Alaska Air stock falls after departures from Seattle hub are cut by 20%

alaska-air-stock-falls-after-departures-from-seattle-hub-are-cut-by-20%

Shares of Alaska Air Group Inc. ALK, +0.53% fell 0.8% in premarket trading Wednesday, after the air carrier said overnight that it will cut departures from Seattle by about 20%, as it continues to be feel the impact of severe winter weather and staffing shortages related to COVID-19. The company said decision to cut capacity, to allow for additional time to de-ice its planes, comes after 170 flights were canceled on Tuesday. “We deeply apologize for the inconvenience this winter storm has on our guests and employees and are working hard to return to the level of service you know and expect from us, while operating safely,” said Chief Operating Officer Constance von Muehlen. Among other air carriers, shares of American Airlines Group Inc. AAL, +2.04% fell 0.4% in the premarket, United Airlines Holdings Inc. UAL, +1.55% shed 0.6% and Delta Air Lines Inc. DAL, +1.62% slid 0.6%. Meanwhile, futures ES00, -0.04% for the S&P 500 SPX, -0.10% inched up less than 0.1% ahead of the open.

Source: Marketwatch

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