Alaska air group sees june total revenue down about 80%

Alaska air group inc - demand deterioration began abruptly in march 2020 and continued through april 2020.alaska air group - in may, early signs of recovery began to emerge, passenger traffic began to increase with fewer cancellations,increase in new bookings.alaska air group inc - q2 demand remains significantly below historic levels.alaska air group - expect to moderate our capacity cuts into july and august to approximately down 60% and down 50% from prior-year levels.alaska air group inc - q3 demand is also expected to be significantly adversely impacted.alaska air group - also reduced planned capital expenditures by nearly $600 million to under $175 million for 2020.alaska air group inc - reduced monthly cash burn rate from $400 million at end of march, to $206 million in april, and $165 million in may.alaska air group inc - to date, over 6,000 employees have taken voluntary leave.alaska air group - cash burn in june 2020 is expected to be about $150 million.alaska air group inc - reduced planned capital expenditures by nearly $600 million to under $175 million for 2020.alaska air group inc - as of june 19, 2020, air group had cash and short-term investments of about $2.7 billion.alaska air group - remain focused on reducing monthly cash burn to zero by end of 2020.alaska air group - cash burn rates in may benefited from a 230% improvement in gross cash passenger ticket sales.
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