Alaska Air Unveils Long-Ferm Forecast, Fleet Transition Plan - Alaska Air Gr (NYSE:ALK), Bank of America (NYSE:BAC)

Alaska Air Group Inc. ALK, the parent company of Alaska Airlines Inc. and Horizon Air Industries Inc, provided updates on its long-term growth strategy.
Alaska plans to grow an average of 4-8% per year through 2025, in part by investing in the depth of its network.
The company plans to accelerate the transition of its fleet of 300+ aircraft to all Boeing Co BA 737 for its mainline operations and all Embraer SA ERJ E175 jets for regional by the end of 2023.
The company is also converting two passenger 737-800s to freighters, bringing the total freighter fleet to five.
Related: Alaska Airlines Offers Flight Attendants Double Pay To Ease Staffing Shortage: CNBC
The company announced infrastructure improvements for four main hubs, Seattle, Portland, San Francisco, and Los Angeles. It expects the investments to total $2.3 billion in infrastructure upgrades.
Alaska Air also extended its co-branded credit card agreement with Bank Of America Corp BAC through 2030. The companies intend to announce additional benefits in the second half of 2022 to elevate their loyalty program for cardholders.
Also Read: Alaska Air Reports Q4 Results, EPS Misses Street View
FY22 Outlook: Alaska Air expects capacity to be up 1% to 3%, CASM ex-fuel up 3% - 5%, and capital expenditures of $1.6 billion - $1.7 billion.
Price Action: ALK shares are trading higher by 3.01% at $55.75 on the last check Thursday.