Alaska Airlines buys back stocks worth $18 million

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Despite a net loss of $142 million, Alaska Airlines still repurchased $18 million of its own stock

Despite reporting a net loss of $142 million in Q1 2023, Seattle-based Alaska Airlines repurchased $18 million worth of its own stocks.

The airline finished the three-month period ending on March 31, 2023 with $2.4 billion in unrestricted cash and marketable securities, and plans to spend a total of $100 million to repurchase its own stock throughout the year.

Alaska Airlines retired 15 Airbus A320 aircraft during the quarter, while its regional affiliate, Horizon Air, phased out 12 De Havilland Canada DHC Dash 8-400 aircraft. Boeing delivered six Boeing 737 MAX-9 aircraft to Alaska Airlines in Q1 2023, bringing its total 737 MAX-9 fleet count to 43 aircraft. The carrier expects to achieve an adjusted pre-tax margin of 14% to 17% in Q2 2023.

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