WASHINGTON (dpa-AFX) - Alaska Air Group, Inc. (ALK) said, as a result of
revised accounting treatment, the company's first quarter adjusted loss per
share will not include the Boeing compensation, and is expected to be
approximately in a range of loss of $1.15 to a loss of $1.05. This reflects
approximately $0.95 cents of lost earnings due to Flight 1282 and the 737-9 MAX
grounding lost profits, the company noted. Previous adjusted loss per share
guidance was a range of $0.55 to $0.45.

The company's prior investor update indicated its expectation that the
remuneration for lost profits would be taken into earnings. However, the company
has revised planned accounting treatment following further analysis of Generally
Accepted Accounting Principles and precedent transactions of a similar nature
within the industry.

Air Group said its first quarter operation and results were significantly
impacted by Flight 1282 in January and the Boeing 737-9 MAX grounding which
extended into February. Absent these factors, first quarter adjusted pretax
profit would have improved approximately 80% over first quarter of 2023, versus
pre-grounding expectations of a 30% improvement.

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