Airline shares fall after Alaska Air Group update


Passengers have returned en masse to the airways in 2023, leading to strong performance in airline stocks. It looks like Tuesday’s trade will be a bumpier ride.

Alaska Air Group said Tuesday morning that it earned $3 per share on an adjusted basis in the second quarter. That topped analysts’ expectations of $2.71 a share, according to FactSet.

Other details were less encouraging: the airline said it expects third-quarter revenue growth of 0 to 3% from a year earlier. The top line grew 7% in the second quarter.

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