CHICAGO, Oct 20 (Reuters) – Alaska Air Group on Tuesday forecast a bigger-than-expected fourth-quarter loss as soaring fuel costs continued to squeeze its profits despite strong travel demand and higher fares. The carrier expects an adjusted loss of $2 to $2.50 per share for the quarter, compared with analysts’ average estimate of a loss of […]
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Alaska Air forecasts bigger-than-expected fourth-quarter loss on soaring fuel costs
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CHICAGO, Oct 20 (Reuters) – Alaska Air Group on Tuesday forecast a bigger-than-expected fourth-quarter loss as soaring fuel costs continued to squeeze its profits despite strong travel demand and higher fares.
The carrier expects an adjusted loss of $2 to $2.50 per share for the quarter, compared with analysts’ average estimate of a loss of $1.04 per share, according to data compiled by LSEG.
(Reporting by Rajesh Kumar Singh; Editing by Chris Reese)