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Alaska Air ekes out small profit, says merger with Virgin on track

“And the airline group said the merger between Alaska Airlines and Virgin America is on track” writes Seattle Times Aerospace for seattletimes.com. Alaska Air Group reported a small first quarter profit Monday of $4 million, or 3 cents a share, on revenue of $1.8 billion.Alaska Air reported a small first quarter profit Monday of 3 cents a share, a better result than management had forecast at the end of 2017, when it predicted a first-quarter loss. Source: seattletimes.com Share This:

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News Oil 

Battle brews over fund that feeds Alaskans’ yearly oil check

“Now, with their options for filling the deficit dwindling, lawmakers may have no choice but to use Alaska Permanent Fund earnings to help pay the state’s bills” writes Becky Bohrer for sun-sentinel.com. Fund earnings, by one estimate, could total around $16 billion by the end of this fiscal year, though lawmakers are eyeing only a fraction of that.They reached an all-time high of $2,072 in 2015 — totaling more than an extra $10,000 for a family of five — before state leaders started contemplating some use of fund earnings for…

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News Oil 

Alaska senator says opening of Arctic refuge could start next year

“Sullivan said Interior Department officials are visiting the refuge, known as ANWR, in Alaska this week to scope opportunities for energy exploration” writes Josh Siegel for washingtonexaminer.com. Under the tax law, the Interior Department must hold the first lease sale by 2021 and another by 2024, with at least 400,000 acres available each time.Republicans last year were successful in achieving their long-pursued goal to allow energy exploration in the area as part of their tax overhaul legislation. Source: washingtonexaminer.com Share This:

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News Oil 

Alaska, other oil states fight budget deficits for fiscal year 2019

“The state’s proposed capital budget for fiscal 2019 is $150 million, down from nearly $2 billion in fiscal 2013, a drop of more than 90 percent” writes Midwest Communications Inc for 95kqds.com. However, Fitch said on Jan. 25 that while oil prices and production have edged higher, states seem to be tempering their revenue and price forecasts.Oklahoma’s challenges stem from a combination of low oil prices and extensive one-time actions from the legislature, said Marcy Block, an analyst at Fitch Ratings.NEW YORK (Reuters) – More than three years after the…

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Alaska Air shares fall as results meet Wall Street expectations

“Shares in Alaska Air Group, parent company of Alaska Airlines, fell sharply Thursday morning despite a fourth-quarter earnings report in line with Wall Street expectations” writes Seattle Times Aerosapce for seattletimes.com. Alaska’s year-end results were as expected but investors are nervous about airlines’ growth plans, and Alaska has its own challenges.Alaska reported a net profit for the fourth quarter of $367 million, or $2.97 per diluted share. Comparing the results in 2017 of the enlarged Alaska Air Group with the combined results of the separate airlines in 2016, profit before…

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Markets News 

Monday Memo: Starbucks, Alaska Air, F5 earnings; Davos economic forum

“THURSDAY: Starbucks releases its fiscal first-quarter earnings after the market closes” writes The Seattle Times for seattletimes.com. WEDNESDAY: F5 Networks will announce its fiscal first-quarter earnings after the market closes. … The National Association of Realtors releases existing home sales for December.Store closings forced by the hurricanes in Texas and Florida were one factor, but growth also slowed in the all-important China market. … Alaska Air Group reports its fourth-quarter and full year earnings. Source: seattletimes.com Share This:

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