Transportation
Alaska Air Forecasts Worse-Than-Expected Profit Amid Fare Fight
- Third-quarter, full-year outlooks below Wall Street estimates
- Airline joins bigger rivals battered by deep price cuts
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Alaska Air Group Inc. forecast a third-quarter profit below Wall Street’s expectations, joining other US carriers whose bottom lines are being hit by deep fare discounts.
Adjusted earnings will be $1.40 to $1.60 a share, the airline said in a statement Wednesday that also included second-quarter financial results. Analysts had expected $2.06 on average for the period, according to estimates compiled by Bloomberg.