Why Alaska Air Blasted Higher Today
Shares of Alaska Air Group (NYSE: ALK) rallied as much as 17.9% on Tuesday, before settling into a 13.1% gain as of 12:26 p.m. ET.
Alaska has been the rare outperforming airline stock, up 45% over the past year, with shares receiving another jolt today as the company outlined its medium-term financial targets following the acquisition of Hawaiian Airlines in September.
Alaska released a press release ahead of its 2024 Investor Day today, in which the company outlined how it would benefit from the recent acquisition of Hawaiian Airlines. Alaska acquired Hawaiian in a $1.9 billion all-stock deal back in September, its latest consolidation move following the acquisition of Virgin Airlines back in late 2016.
Source Fool.com
