阿拉斯加航空 2026年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-8957 ALASKA AIR GROUP, INC. 91-1292054 (I.R.S. Employer Identification No.) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to besubmitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit and post such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of theExchangeAct. If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.):Yes☐No☒ The registrant had 111,428,978 common shares, par value $0.01, outstanding at April30, 2026. This document is also available on our website at https://investor.alaskaair.com. ALASKA AIR GROUP,INC.FORM 10-Q FOR THE QUARTER ENDED MARCH31, 2026 TABLE OF CONTENTS PART I.FINANCIAL INFORMATION4ITEM 1.CONDENSED CONSOLIDATED FINANCIAL STATEMENTS4NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS10ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESULTS OF OPERATIONS19ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK29ITEM 4.CONTROLS AND PROCEDURES30PART II.OTHER INFORMATION31ITEM 1.LEGAL PROCEEDINGS31ITEM 1A.RISK FACTORS31ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS31ITEM 3.DEFAULTS UPON SENIOR SECURITIES31ITEM 4.MINE SAFETY DISCLOSURES31ITEM 5.OTHER INFORMATION31ITEM 6.EXHIBITS32SIGNATURES33 As used in this Form 10-Q, the terms “Air Group,” the “Company,” “our,” “we,” and "us" refer to Alaska Air Group, Inc. andits subsidiaries, unless the context indicates otherwise. Alaska Airlines, Inc., Hawaiian Holdings, Inc., and Horizon AirIndustries, Inc. are referred to as “Alaska," "Hawaiian," and “Horizon” and together as our “airlines.” CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS In addition to historical information, this Quarterly Report on Form 10-Q contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and thePrivate Securities Litigation Reform Act of 1995. Forward-looking statements are those that predict or describe future events or trendsand that do not relate solely to historical matters. Forward-looking statements involve risks and uncertainties that could cause actualresults to differ materially from historical experience or the Company’s present expectations. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known andunknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statementsare based on the information currently available to us and speak only as of the date on which this report was filed with the SEC. Otherthan as required by law, we expressly disclaim any obligation to issue any updates or revisions to our forward-looking statements, evenif subsequent events cause our expectations to change regarding the matters discussed in those statements. For a discussion of risksand uncertainties that may cause our forward-looking statements to differ materially, see Item 1A. "Risk Factors” within theCompany’s Annual Report on Form 10-K for the year ended December31, 2025. Some of these risks include competition; labor costs,relations, and availability; general economic conditions; increases in operating costs, including fuel; uncertainties regarding the abilityto successfully integrate operations following the acquisition of Hawaiian Holdings, Inc., and the ability to realize anticipated costsavings, synergies, or growth from the acquisition; inability to meet cost reduction and other strategic goals; seasonal fluctuations