UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Date of earliest event reported)
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
| (Commission File Number) | (IRS Employer Identification No.) | |||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
(206 ) 392-5040
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Ticker Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
This document is also available on our website at http://investor.alaskaair.com.
ITEM 8.01. Other Items
On August 16, 2021, Alaska Airlines Inc., (Alaska) announced it will exercise 12 Boeing 737-9 MAX options with deliveries in 2023 and 2024. Additionally, Alaska announced an additional 25 options available for exercise, with deliveries in 2025 and 2026.
The Company has issued a press release regarding this fleet activity. The press release is attached as Exhibit 99.1.
ITEM 9.01 Financial Statements and Other Exhibits
(d) Exhibits.
| ALK Press Release dated August 16, 2021 | ||||||||
| 104 | Cover Page Interactive Data File - embedded within the Inline XBRL Document | |||||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ALASKA AIR GROUP, INC.
Registrant
Date: August 16, 2021
/s/ CHRISTOPHER M. BERRY
Christopher M. Berry
Vice President, Finance and Controller
Aug. 16, 2021
Contact:
Media Relations
(206) 304-0008
newsroom@alaskaair.com
Alaska Airlines continues fleet optimization with 12 additional Boeing 737-9 aircraft
Options exercised for deliveries in 2023 and 2024 further
enhance airline’s financial and sustainability outlook
SEATTLE — Alaska Airlines announced today it is accelerating its fleet growth by exercising options early on 12 Boeing 737-9 aircraft. The option aircraft are now firm commitments for 2023 and 2024. This additional commitment brings Alaska’s total firm 737-9 order to 93 aircraft, five of which are currently in service.
Alaska announced a restructured agreement with Boeing in December 2020 to acquire 68 737-9 aircraft between 2021 to 2024, with options for another 52 deliveries between 2023 and 2026. This year, the airline has exercised 25 of the options, including 13 planes in May. As part of this transaction, Alaska will add 25 options to backfill the ones that have been exercised.
“We are excited to accelerate Alaska’s growth, building on our solid financial foundation that enabled us to weather the pandemic,” said Nat Pieper, Alaska Airlines senior vice president of fleet, finance and alliances. “These aircraft are a prudent, long-term investment in our business that we can make while simultaneously maintaining our strong balance sheet.”
| Deliveries | 2021 | 2022 | 2023 | 2024 | TOTAL | ||||||||||||
| Original Firm Order | 12 | 31 | 13 | 12 | 68 | ||||||||||||
| May Option Exercise | - | - | 9 | 4 | 13 | ||||||||||||
| August Option Exercise | - | - | 10 | 2 | 12 | ||||||||||||
| TOTAL | 12 | 31 | 32 | 18 | 93 | ||||||||||||
“Boeing continues to be a terrific partner for Alaska. We began flying our first 737-9s this past spring, and we’re extremely pleased with the operational, financial and environmental performance of the aircraft,” said Pieper. “The planes are exceeding our expectations – from how quiet the engines run to the greater range they provide – and our guests love them.”
Alaska’s 737-9s are configured to carry 178 guests with 16 First Class seats and 24 Premium Class seats, which provide the most premium legroom of any other U.S. airline.
As more travelers take to the skies, Alaska remains committed to Next-Level Care for our guests and employees by implementing more than 100 ways to maintain the highest standard of safety – from clean planes to clean air in the cabin (with hospital-grade air filtration systems). For everyone’s safety on board, Alaska continues to enforce the federally mandated mask policy, even for those who are fully vaccinated.
On board, our guests will enjoy the amazing customer service we’re known for. We’ve recently expanded food and beverage service on our flights, adding more West Coast inspired meals in First Class like Guajillo Chile-Lime Salad with ancient grains, and additional fresh food items throughout the cabin that can be pre-ordered before departure up to two weeks before departure. Guests can relax and get in a vacation state-of-mind with free craft beer, West Coast wines and cocktails in First Class and Premium Class, which are also available for purchase in the main cabin.
Guests can stay connected with inflight internet or satellite Wi-Fi available on most flights. For entertainment, kick back and select from more than 1,000 movies and TV shows that can be streamed to your own personal service for free. From mid-September through mid-October, we’ll be celebrating Latinx content and creators with special entertainment selections.
Alaska is the newest member of the oneworld global alliance. With oneworld and our additional airline partners, guests can fly to as many as 1,000 destinations around the world. Flyers can also earn and redeem miles with our highly-acclaimed Mileage Plan program to fly on more than 20 oneworld and airline partners.
About Alaska Airlines
Alaska Airlines and its regional partners serve more than 120 destinations across the United States and to Mexico, Canada and Costa Rica. The airline emphasizes Next-Level Care for its guests, along with providing low fares, award-winning customer service and sustainability efforts. Alaska is a member of oneworld. With the global alliance and the airline's additional partners, guests can travel to more than 1,000 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about our climate impact goals at blog.alaskaair.com. Read about Alaska Airlines at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).
Alaska Airlines and its regional partners serve more than 120 destinations across the United States and to Mexico, Canada and Costa Rica. The airline emphasizes Next-Level Care for its guests, along with providing low fares, award-winning customer service and sustainability efforts. Alaska is a member of oneworld. With the global alliance and the airline's additional partners, guests can travel to more than 1,000 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about our climate impact goals at blog.alaskaair.com. Read about Alaska Airlines at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).