Alaska Air Group
37 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.
Customers
Suppliers
Boeing
depends onnamed as a riskBoeing has significant production constraints for the B737 and B787 aircraft, as well as regulatory delays for certain B737 aircraft.Risk factors (Item 1A)
Partners and platforms
American Airlines
depends on · approximately 5% of our total operating revenuenamed as a riskOur airlines are parties to marketing agreements with a number of domestic and international air carriers, or “partners,” including an expanded relationship with American Airlines and other oneworld carriers.Risk factors (Item 1A)
Also named by DAL
Travel agencies and Global Distribution Systems
depends on · 26%In 2025, 74% of our total sales were conducted direct to customer with the remaining 26% through traditional and online travel agencies.Business (Item 1)
Bank of America
earns fromnamed as a riskAlaska offers three co-branded credit cards issued by Bank of America N.A.: the Atmos Rewards Ascent Visa Signature, the Atmos Rewards Summit Visa Infinite, and the Atmos Rewards Visa Signature Business.Business (Item 1)
oneworld alliance
depends onnamed as a riskAlaska's membership in the oneworld global alliance may limit options to bring non-oneworld carrier partners into the Atmos Rewards program.Risk factors (Item 1A)
Air traffic control
depends onnamed as a riskAdditionally, we rely on the FAA and its systems for critical aspects of flight operations.Risk factors (Item 1A)
Barclays
earns fromTwo other co-branded card products are also available for Atmos Rewards members, the Hawaiian Airlines Barclays' World Elite Mastercard and the Bank of Hawai'i Visa debit card, which provide additional earning opportunities and program benefits.Business (Item 1)
SkyWest
depends onRegional - includes scheduled air transportation of passengers on Horizon and a third-party carrier (SkyWest) on Embraer E175 (E175) aircraft throughout the western region of North America.Business (Item 1)
Other companies
Hawaiian Airlines acquisition integration
named as a riskWe may be unable to integrate Hawaiian’s business with ours successfully and realize the anticipated benefits of the acquisition, which could negatively impact our stock price and our future business and financial results.Risk factors (Item 1A)
Competitors
Delta Air Lines
competes with · Approximately 78% of our capacity to and from Seattlenamed as a riskApproximately 78% of our capacity to and from Seattle competes with Delta.Business (Item 1)
Also named by AXP
United Airlines
competes withnamed as a riskIn addition to Delta, Southwest Airlines and United Airlines are significant competitors in the state of Hawai'i and on the West Coast.Business (Item 1)
Also named by DAL
Southwest Airlines
competes withnamed as a riskIn addition to Delta, Southwest Airlines and United Airlines are significant competitors in the state of Hawai'i and on the West Coast.Business (Item 1)
Places
Hawaii
concentrated in · $600 millionnamed as a riskDue to the concentration of our flights in the Pacific Northwest, Alaska, and Hawai'i, we believe a large portion of our operation is more susceptible to adverse weather conditions and natural disasters than other carriers with networks that cover a larger geographic area.Risk factors (Item 1A)
West Coast
concentrated in · 78%named as a riskOur strategy involves a high concentration of our business in key West Coast markets.Risk factors (Item 1A)
California
subject tonamed as a riskIn recent years, the airline industry has experienced an increase in litigation over the application of state and local employment laws, particularly in California.Risk factors (Item 1A)
Also named by A, AAON, AFRM, ALLY, AN, ARE, AVAV, AWK and 88 more
Washington
subject tonamed as a riskNew employee health and welfare initiatives with employer-funded costs, specifically those impacting Washington state, could disproportionately increase our cost structure as compared to our competitors.Risk factors (Item 1A)
Seattle
concentrated innamed as a riskA significant portion of our flights occur to and from our stations in Seattle, Honolulu, Portland, and California.Risk factors (Item 1A)
Also named by ARE
Pacific Northwest
concentrated innamed as a riskIn certain geographies such as the Pacific Northwest, Alaska, and Hawai'i, we may be more susceptible to adverse weather conditions than some of our competitors who have different network exposures.Business (Item 1)
Also named by RYN
Hazards
Hawaiian Airlines cybersecurity incident
named as a riskIn June 2025, Hawaiian Airlines identified a cybersecurity incident affecting certain information technology systems.Risk factors (Item 1A)
Commodities and inputs
Crude oil
exposed to its price · approximately $27 million of raw fuel expense annuallynamed as a riskA $1 per barrel change in the price of oil equates to approximately $27 million of raw fuel expense annually based on 2025 consumption levels.Market risk (Item 7A)
Also named by AESI, APA, ARLP, BDX, CFR, CL, CLMT, COP and 48 more
Japanese Yen
exposed to its price · approximately $35 millionnamed as a riskWe estimate that a 10% depreciation or appreciation in the U.S. dollar, relative to the Japanese Yen, Australian Dollar, Canadian Dollar, and Mexican Peso would result in a change in annual pretax income or loss of approximately $35 million.Market risk (Item 7A)
Also named by ABBV, ABT, ACN, ADBE, AMAT, AMKR, BMY, COO and 24 more
Jet fuel
exposed to its price · $2,879named as a riskOur business and financial results are highly impacted by the price and the availability of aircraft fuel.Business (Item 1)
Sustainable aviation fuel (SAF)
depends onnamed as a riskWhile SAF technologies and market development have advanced in recent years, limited supply and high cost of SAF continue to constrain widespread adoption.Business (Item 1)
U.S. West Coast jet fuel
exposed to its pricenamed as a riskDue to our concentration on the West Coast, the price of jet fuel may have a disproportionate impact on our operating results compared to other carriers which may have operations that span a larger geographic area.Risk factors (Item 1A)
Singapore jet fuel
exposed to its priceAir Group primarily purchases its fuel based on U.S. West Coast and Singapore jet fuel prices.Business (Item 1)
Regulators
Transportation Security Administration (TSA)
subject to · $5.60 per one-way tripUnder TSA authority, we are required to collect a September 11 Security Fee of $5.60 per one-way trip from passengers and remit that sum to the government to fund aviation security measures.Business (Item 1)
Also named by BKH, CHRW, CP, CSX, DAL, EXC, EXPD, FDX and 13 more
Federal Aviation Administration (FAA)
subject tonamed as a riskThe FAA will periodically issue directives or other regulations regarding maintenance or operation of aircraft, which could result in temporary groundings, delays, or adjustments to operations and consequently could negatively impact our financial results.Risk factors (Item 1A)
Also named by ACHR, AIR, AMT, AVAV, BA, BRK/B, CCI, CW and 27 more
National Mediation Board
subject tonamed as a riskUnder the Railway Labor Act, the National Mediation Board has exclusive authority to resolve representation disputes arising out of airline mergers.Risk factors (Item 1A)
Laws and programs
Railway Labor Act
subject to · 81% of Air Group employeesnamed as a riskOur relations with U.S. labor organizations representing our employees are governed by the Railway Labor Act (RLA).Business (Item 1)
Atmos Rewards
earns from · approximately 16% of Air Group's total revenue in 2025Loyalty program revenue, including that in the Passenger revenue line item in the consolidated statements of operations, represented approximately 16% of Air Group's total revenue in 2025.Business (Item 1)
EU General Data Protection Regulation (GDPR)
subject tonamed as a riskWith our operations to Europe beginning in 2026, we will be subject to the European Union's General Data Protection Regulation, which imposes strict information security requirements and the potential for substantial non-compliance penalties.Risk factors (Item 1A)
Also named by ACN, ADSK, AIG, AMG, ANET, APG, AXON, BAX and 61 more
McCaskill-Bond Act
subject tonamed as a riskThe process for integrating labor groups in an airline merger is governed by a combination of the Railway Labor Act, the McCaskill-Bond Act, and where applicable, the existing provisions of our collective bargaining agreements (“CBAs”) and internal union policies.Risk factors (Item 1A)
CORSIA
subject toThe mechanism to comply with this commitment internationally is through the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which is a global, market-based measure that allows for eligible emissions offsets or the use of CORSIA-eligible sustainable aviation fuel to mitigate the growth emissions.Business (Item 1)