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Alaska Air Cuts Profit Outlook As Fuel Costs Jump And IT Outage Hits

Alaska Air Group Inc. (NYSE:ALK) said Monday it expects third-quarter adjusted earnings per share to come in at the low end of its prior 1.00to1.00 to 1.40 forecast, as higher fuel prices and operational issues weighed on results. Refinery disruptions on the West Coast lifted the airline’s expected fuel cost to 2.50to2.50 to 2.55 per gallon, above its earlier estimate of about $2.45. Weather, air traffic control delays, and a July IT outage added expenses, with the outage alone projected to trim about 10 cents per ...