Alaska Air Group 's (NYSE: ALK) cash burn increased in September compared to August and is expected to grow higher still in October, but the airline is taking steps to bring down costs to weather the coronavirus crisis.
In a regulatory filing on Tuesday, Alaska Air said September cash burn increased to $117 million as improved cash bookings failed to offset incremental additional flying and increased debt service payments. The company expects to burn through $125 million in October, and that assumes that flight demand will improve slightly during the month.
Image source: Alaska Air Group.
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Alaska Air's Cash Burn Ticks Higher as More Cuts Loom