Alaska Air Group Inc (NYSE:ALK)
$ 43.76 -0.1 (-0.23%) Market Cap: 5.55 Bil Enterprise Value: 7.10 Bil PE Ratio: 23.40 PB Ratio: 1.38 GF Score: 86/100
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Q1 2020 Alaska Air Group Inc Earnings Call Transcript

May 05, 2020 / 03:30PM GMT
Release Date Price: $28.97 (+0.70%)
Operator

Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Alaska Air Group first quarter earnings release conference call. Today's call is being recorded and will be accessible for future playback at alaskaair.com. (Operator Instructions)

I'd now like to turn the call over to Alaska Air Group's Director of Investor Relations, and Emily Halverson.

Emily Halverson
Alaska Air Group, Inc. - IR

Thank you, Chris. Good morning. And thank you for joining us for our first quarter 2020 earnings call. This morning, Alaska Air Group reported a first quarter GAAP net loss of $232 million. Excluding onetime costs and mark-to-market adjustments, Air Group reported an adjusted net loss of $102 million. Onetime costs incurred this quarter include approximately $160 million of asset impairment charges that were triggered as a result of the significant decline in demand for air travel and market conditions. These impairments included approximately $145 million of aircraft and aircraft-related parts as

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