Alaska Airlines Faces $150 Million Loss as Boeing 737 Max 9 Grounding Continues. CEO, "More Than Frustrated and Disappointed, I Am Angry."
Alaska Airlines said the weekslong grounding of the Boeing 737 Max 9 due to safety inspections will cost the airline $150 million. Late last week, the FAA approved new inspection instructions for the 737 Max, which will allow it to return to service. Alaska Airlines plans to resume flights with the plane starting this Friday and complete the return to service in early February. For the full year 2024, Alaska Airlines forecasts lower earnings per share between $3 and 5 due to the financial impact of the grounding. The airline also reduced its planned capacity growth.
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00:00 It's Benzinga and here's what's on the block. Alaska Airlines said the weeks-long grounding
00:04 of the Boeing 737 MAX 9 due to safety inspections will cost the airline $150 million. Late last
00:10 week, the FAA approved new inspection instructions for the 737 MAX, which will allow it to return to
00:15 service. Alaska Airlines plans to resume flights with the plane starting this Friday and complete
00:20 the return to service in early February. For the full year 2024, Alaska Airlines forecast lower
00:25 earnings per share between $3 to $5 due to the financial impact of the grounding. The airline
00:30 also reduced its planned capacity growth. Alaska and United Airlines CEOs have expressed frustration
00:35 with Boeing over the incident and grounding. Alaska's CEO said he is more than frustrated
00:39 and disappointed, he is angry. For all things money, visit Benzinga.com.