Alaska Air subsidiary's apply for CARES Act payroll grants, sees 'sizable' capacity cuts coming [MarketWatch]
Alaska Air Group, Inc. (ALK)
Last alaska air group, inc. earnings: 1/28 04:01 pm
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Source: MarketWatch
Alaska Air Group Inc. disclosed Monday that its Alaska Airlines Inc. and Horizon Air Industries Inc. wholly-owned subsidiaries have applied for payroll grants under the Coronavirus Aid, Relief and Economic Security (CARES) Act. The air carrier said a ground services subsidiary of Alaska Airlines, McGee Air Services Inc., has also applied for payroll support grants. "Given the uncertainty about when demand may bottom out and when a recovery may begin, the CARES Act payroll support grants will be critical as we weather the challenging months ahead," Alaska Air said in a statement. The company said it has cut capacity by 80% in April an dMay as demand has dropped in the wake of the COVID-19 pandemic. The company said it will update capacity reductions for June at a later date, but based on current trends, "sizable cuts will be necessary for the coming months." The stock surged 8.1% in afternoon trading. It has shed 61% over the past three months, while the Dow Jones Transportation Averag
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News
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ALK
Earnings
- 10/24/25 - Miss
ALK
Sec Filings
- 12/3/25 - Form 8-K
- 11/6/25 - Form 10-Q
- 11/5/25 - Form 4
- ALK's page on the SEC website