Alaska Air Gr (NYSE:ALK) Stock, Quote.Headers.trade-ideas

Alaska Air Gr

Alaska Air Group Inc operates two airlines, Alaska and Horizon in three operating segments. The Mainline segment includes scheduled air transportation on Alaska's Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, and Costa Rica. The Regional segment includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the U.S. and Canada under capacity purchase agreements (CPA). The Horizon segment includes the capacity sold to Alaska under a CPA. It earns revenues from Passenger tickets, including ticket breakage and net of taxes and fees, Passenger ancillary and Mileage Plan passenger revenue.

Alaska Air Group

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Alaska Air Group has made a bold move, significantly raising its adjusted earnings per share forecast for the third quarter, now projecting a range of $2.15 to $2.25—well above the analyst consensus estimate of $1.60 and the earlier range of $1.40 to $1.60.

Alaska Air Boosts Q3 Earnings Forecast Amid Solid Summer Travel Surge

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Boeing reportedly delays 737 MAX production milestone by 6 months, signaling challenges in ramping up production. Union workers dissatisfied ahead of crucial vote.

Boeing&#39;s 737 MAX Production Faces New Delays: Report

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An Alaska Airlines flight returned to Seattle due to engine trouble. The Boeing 737-700 plane left for Oakland but had to turn around after an hour.

Boeing 737 Aircraft Experiences Engine Trouble During Alaska Airlines Flight, Forced To Turn Around

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Alaska Airlines CEO Says Boeing Strike Unlikely To Significantly Impact Carrier Unless Prolonged; Notes Significant Improvement At Boeing, Expects 737 MAX 10 Deliveries By Mid-2026

Alaska Airlines Completes Acquisition Of Hawaiian Airlines, Expanding Access To 141 Direct Destinations And Over 1,200 Global Destinations, While Maintaining Both Brands And Offering Free Mile Transfers Between Loyalty Programs

Now that final clearance has been received from regulators, Alaska Airlines can close the transaction and shift focus to obtaining a single operating certificate from the Federal Aviation Administration (FAA).&nbsp;
When the combination was announced, it was shared that Hawaiian Airlines President and CEO&nbsp;Peter Ingram&nbsp;would step down from his role following the transaction close. Current Alaska Airlines regional president of Hawai&#39;i/Pacific,&nbsp;Joe Sprague, will be named chief executive officer of Hawaiian Airlines.
In this role, Sprague will be responsible for leading all aspects of Hawaiian Airlines&#39; operations until the FAA grants&nbsp;Alaska&nbsp;a single operating certificate.

Management

Alaska Air Reveals Interim Honolulu Leadership Team Will Lead The Hawaiian Airlines Operation

<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0005" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0005">https://www.regulations.gov/document/DOT-OST-2024-0084-0005</a>
<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0005" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0005">https://www.regulations.gov/document/DOT-OST-2024-0084-0005</a>

U.S. Department Of Transportation Grants Alaska Airlines And Hawaiian Airlines Temporary Exemption For Common Ownership Under Alaska Air Group, Pending Final Decision On Route Authority Transfer

In the preceding three months, 5 analysts have released ratings for Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $53.2, along with a high estimate of $70.00 and a low estimate of $41.00. Highlighting a 1.12% decrease, the current average has fallen from the previous average price target of $53.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1726246823_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Alaska Air Gr's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Didora</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$55.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Helane Becker</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$52.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Stephen Trent</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$48.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Ravi Shanker</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$70.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Christopher Danely</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$41.00</td>
<td>$42.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Alaska Air Gr. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Alaska Air Gr compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Alaska Air Gr's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Alaska Air Gr's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Alaska Air Gr analyst ratings.</a>
<h2>Discovering Alaska Air Gr: A Closer Look</h2>
Alaska Air Group Inc operates two airlines, Alaska and Horizon in three operating segments. The Mainline segment includes scheduled air transportation on Alaska's Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, and Costa Rica. The Regional segment includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the U.S. and Canada under capacity purchase agreements (CPA). The Horizon segment includes the capacity sold to Alaska under a CPA. It earns revenues from Passenger tickets, including ticket breakage and net of taxes and fees, Passenger ancillary and Mileage Plan passenger revenue.
<h3>Breaking Down Alaska Air Gr's Financial Performance</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, Alaska Air Gr showcased positive performance, achieving a revenue growth rate of 2.08% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Alaska Air Gr's net margin is impressive, surpassing industry averages. With a net margin of 7.59%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 5.36%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Alaska Air Gr's ROA excels beyond industry benchmarks, reaching 1.46%. This signifies efficient management of assets and strong financial health.
Debt Management: Alaska Air Gr's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.92.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Expert Outlook: Alaska Air Gr Through The Eyes Of 5 Analysts

B of A Securities analyst Andrew Didora maintains Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy and raises the price target from $50 to $55.

Price Target

B of A Securities Maintains Buy on Alaska Air Gr, Raises Price Target to $55

TD Cowen analyst Helane Becker maintains Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy and raises the price target from $51 to $52.

TD Cowen Maintains Buy on Alaska Air Gr, Raises Price Target to $52

Alaska Airlines Plane In Nashville Aborted Takeoff To Prevent Potential Runway Collision, No Injuries Reported

Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) shares are<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> trading higher on Thursday in the premarket session.</a>
Alaska Air Group has made a bold move, significantly raising its adjusted earnings per share forecast for the entire third quarter, now projecting a range of $2.15 to $2.25—well above the analyst consensus estimate of $1.60 and the <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">earlier range of $1.40 to $1.60</a>.
The announcement was made in an<a href="https://www.sec.gov/Archives/edgar/data/766421/000076642124000054/ex99109122024investorupdate.htm" target="_blank" rel="noreferrer noopener"> exchange filing</a>. Revenue available per seat mile for the third quarter is expected to be up 2%, compared with the prior view of flat to positive.
According to Alaska Air Group, the summer travel season saw strong demand, with the airline operating a record schedule and achieving a 99.3% completion rate quarter-to-date.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40828733/nasdaq-s-p-500-set-for-modest-gains-as-investors-eye-august-inflation-data-and-ecb-rate-decision" rel="noreferrer noopener"> Nasdaq, S&amp;P 500 Set For Modest Gains As Investors Eye August Inflation Data And ECB Rate Decision</a>
While capacity held steady as anticipated, revenue exceeded expectations, partly fueled by a surge in July due to CrowdStrike Holdings <a href="https://www.benzinga.com/markets/equities/24/08/40279069/delta-bleeds-money-after-tech-disaster-pursues-legal-claims-against-crowdstrike-and-microsoft">disruptions across the industry</a> and a strong performance in August and September.
With unit revenue making a positive turn in August and continuing its robust momentum into September, the company now projects a 2% year-over-year increase in total unit revenue for the third quarter of 2024.
Additionally, moderating crude oil and West Coast refining margins have led the company to lower its economic fuel cost expectations to $2.60 to $2.70 per gallon for the quarter (prior view: $2.85 to $2.95).&nbsp;
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, ALK stock has lost over 1% in the past year. Investors can gain exposure to the stock via&nbsp;Renaissance IPO ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPO#NYSE">IPO</a>) and&nbsp;ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>).
Price Action: ALK shares are trading higher by 4.33% to $41.20 premarket at last check Thursday.
Photo Courtesy: Robin Guess On Shutterstock.com
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Alaska Air shares are trading higher after the company raised its Q3 adjusted EPS guidance, reflecting improved revenue and fuel cost outlook.

While capacity remains in line with prior expectations, revenue has performed better than anticipated driven by additional revenue in July related to CrowdStrike disruptions across the industry and stronger performance in August and September.
As previously expected, unit revenue inflected positively in August, and with continued strength into September, it now expect total unit revenue to be up approximately 2% y/y in Q3 2024.
Additionally, moderating crude oil and West Coast refining margins have led us to lower economic fuel cost expectations to $2.60 to $2.70 per gallon for the quarter.
As a result of the improved revenue and fuel cost outlook, it raised adjusted EPS for Q3 2024, which now expect to be between $2.15 and $2.25.

Alaska Air Group Raises Q3 Adj EPS Outlook From $1.40 - $1.60 To $2.15 - $2.25 (Est $1.60)

Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) reportedly informed suppliers of a six-month delay in a key production milestone for its 737 MAX.
The new target is to reach a monthly output of 42 jets by March 2025, compared to the previous goal of September 2024, signaling challenges in ramping up production of its best-selling aircraft, reported Reuters.
As per the report, while the master schedule serves as a demand signal, it is not an official production target.
In July, CFO Brian West told Reuters, &#8220;On the master schedule, we continue to make adjustments as needed and manage supplier by supplier based on inventory levels.&#8221;
&#8220;Our objective remains to keep the supply chain paced ahead of final assembly to support stability.&#8221;
The mid-air incident in January, involving a&nbsp;door panel blowing off, has had a <a target="_blank" href="https://www.benzinga.com/news/24/07/39818420/boeings-737-max-crisis-ripple-effects-disrupt-airlines-suppliers" rel="noreferrer noopener">domino effect on all aspects of the aviation industry.</a>
In August, Boeing announced plans to implement design changes aimed at preventing future <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40212583/boeing-says-it-has-a-design-change-that-will-prevent-plane-doors-from-flying-out-mid-air-like-wh" rel="noreferrer noopener">mid-air cabin panel blowouts</a>.
Notably, Boeing stated earlier that the 737 programs gradually increased production in the second quarter and planned to increase production to <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40066164/boeings-q2-earnings-huge-revenue-decline-lower-deliveries-names-former-aerospace-industries-associa" rel="noreferrer noopener">38 per month by year-end</a>.
Recently, a tentative labor agreement between Boeing and one of its largest unions has left many workers <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40784605/boeing-labor-deal-sparks-anger-among-union-workers-ahead-of-crucial-vote-theyre-angry" rel="noreferrer noopener">dissatisfied ahead of a crucial vote</a>.
Jon Holden, president of IAM District 751 and lead negotiator, noted that workers are frustrated, seeking higher wage increases and improved pensions. Union members will vote on the deal Thursday, with the possibility of a strike still looming.
Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are down 0.26% at $162.49 premarket at the last check Tuesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Boeing's 737 MAX Production Faces New Delays: Report

Citigroup analyst Stephen Trent maintains Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy and lowers the price target from $51 to $48.

Citigroup Maintains Buy on Alaska Air Gr, Lowers Price Target to $48

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U.S. Department of Transportation Says U.S. Airlines Have Canceled 1.6% Of Flights This Year, Below Pre-Pandemic Levels As Summer Travel Hits New Record

"On August 27, 2024, Robert Rivkin, Senior Vice President and Chief Legal Officer of United Airlines (United), spoke with Deputy General Counsel Brian Stansbury. Mr. Rivkin expressed concerns regarding the potential impact of a merger between Alaska Airlines and Hawaiian Airlines on the cooperation agreements between United and Hawaiian Airlines. He noted that United has interline, codeshare, special prorate, and loyalty agreements with Hawaiian Airlines."
<a href="https://www.regulations.gov/document/DOT-OST-2024-0084-0003" title="https://www.regulations.gov/document/DOT-OST-2024-0084-0003">https://www.regulations.gov/document/DOT-OST-2024-0084-0003</a>

Legal

United Airlines Petitioning Department Of Transportation To Block Alaska Air/ Hawaiian Deal

An Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) flight headed for Oakland, California, from Seattle was forced<a href="https://www.benzinga.com/markets/equities/24/08/40571260/boeing-sees-strong-demand-for-planes-in-china-expects-fleet-to-double-by-2043"> to turn around </a>Sunday afternoon after the aircraft — made by The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) — reportedly experienced engine trouble.
What Happened: The Boeing 737-700 airplane left Seattle-Tacoma International Airport at 12:24 Pacific Day Light Time for Alaska Airlines Flight 1240 but flew back to the airport in just over an hour due to the #1 engine on the plane&#8217;s left side shutting down, Fox Business News <a href="https://www.foxbusiness.com/economy/alaska-airlines-boeing-flight-returns-airport-following-engine-issue">reported</a>.
&nbsp;&#8220;We worked to take care of our guests and accommodate their travel to Oakland yesterday afternoon, and we apologize for the inconvenience,&#8221; Alaska Airlines statement read.
Boeing did not immediately respond to Benzinga&#8217;s request for further comment.
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A different aircraft got passengers to Oakland later in the evening, according to flight tracking website FlightAware.&nbsp;
Why It Matters: Boeing has been under intense scrutiny <a href="https://www.benzinga.com/markets/equities/24/05/39009464/boeings-employee-speak-up-on-safety-quality-soar-500-after-737-max-incident-whats-the-benefit">over the safety of its aircraft</a>.
The company is also <a href="https://www.benzinga.com/markets/equities/24/06/39470596/boeing-offers-to-acquire-spirit-aerosystems-in-35-per-share-deal-funded-mostly-by-stock-report">seeking to acquire</a> Spirit AeroSystems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>).
Alaska Airlines, meanwhile, is in the process of trying to merge with Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>).
Alaska Airlines was in the news earlier this year when a Boeing 737-9 MAX door plug blowout occurred during one of their flights in January.&nbsp;
Earlier this summer, the National Traffic Safety Board criticized Boeing for sharing details of the probe into the plug malfunction during a press conference by Elizabeth Lund, senior vice president of quality for Boeing commercial airplanes. 
Price Action: Boeing declined 0.37% to $172.84 by Tuesday&#8217;s mid-afternoon trading, while exchange-traded funds that hold the stock went up for the most part.
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<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEFN#NYSE">DEFN</a>) rose 0.58%</li>
<li>Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>) slid 0.09%</li>
<li>First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>) went up 0.13%</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) edged up 0.18%</li>
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Guests can book their next hotel room or vacation rental through Stays by Alaska Vacations and experience Alaska's award-winning loyalty program while saving money
SEATTLE, Aug. 20, 2024 /PRNewswire/ -- Alaska Airlines is teaming up with Expedia Group to introduce <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236144-1&amp;h=2478062952&amp;u=https%3A%2F%2Fwww.alaskaair.com%2Fcontent%2Fdeals%2Fstays&amp;a=Stays+by+Alaska+Vacations">Stays by Alaska Vacations</a>, a platform where guests can explore exclusive deals on more than 900,000 unique hotel and vacation rental properties, all while earning and redeeming miles through Alaska's industry-leading loyalty program.

EXPE

Alaska Airlines Partners With Expedia Group To Launch Stays By Alaska Vacations

U.S. Transportation Department Spokesman Says Reviewing Alaska Airlines, Hawaiian Airlines Application To Operate Jointly

Boeing Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading lower premarket Tuesday. The U.S. Federal Aviation Administration (FAA) reportedly disclosed that inspections of Boeing 787 Dreamliners will be required.
This decision follows a March incident in which a LATAM Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTM#NYSE">LTM</a>) plane experienced a sudden mid-air dive, injuring over 50 passengers, reported Reuters.
The FAA stated that the likely cause of the dive was the uncommanded movement of the captain&#8217;s seat, which led to the autopilot&#8217;s disconnection.
The agency has received five reports of similar issues with the captain and first officer seats on 787s, with two incidents still under investigation. The FAA&#8217;s airworthiness directive affects 158 U.S.-registered and 737 airplanes globally.
The directive mandates that airlines inspect the captain&#8217;s and first officer&#8217;s seats on 787-7, 787-9, and 787-10 models within 30 days for missing or cracked rocker switch caps or cracked switch cover assemblies, per the report.
The FAA warned that uncommanded horizontal movement of an occupied seat could lead to a rapid descent of the airplane, posing a serious risk of injury to passengers and crew.
Separately, Boeing announced it had halted test flights on its 777-9 awaiting certification after identifying a component between the engine and airplane structure that failed during a maintenance check.
The report further added that the FAA confirmed that Boeing had discovered the damaged component after a 777-9 flight test last week.
This month, the head of the National Transportation Safety Board (NTSB) stated that the mid-air emergency involving&nbsp;Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) Boeing 737 MAX 9 was entirely avoidable, as Boeing should have addressed <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40245022/ntsb-calls-out-boeing-for-safety-lapses-faa-steps-up-scrutiny" rel="noreferrer noopener">unauthorized production work earlier</a>.
Also, Boeing announced plans to make design alterations aimed at preventing future<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40212583/boeing-says-it-has-a-design-change-that-will-prevent-plane-doors-from-flying-out-mid-air-like-wh" rel="noreferrer noopener"> mid-air cabin panel blowouts</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are down 0.97% at $177.89 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Tada Images On Shutterstock.com
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40427830/ula-owners-in-talks-to-sell-spacex-rival-to-sierra-space-report" target="_blank" rel="noreferrer noopener">ULA Owners In Talks To Sell SpaceX Rival To Sierra Space: Report</a></li>
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