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Alaska Air Group (ALK) Q1 2020 earnings Infographic

laska Air Group Q1 2020 earnings

Days after Warren Buffett announced that he had ditched his holding in airline stocks, Alaska Air Group (NYSE: ALK) reported it’s first-quarter financial results.

ALK stock rose 6% immediately after the announcement as the company posted narrower losses than expected. The stock has plunged 53% in the trailing 12 months.

“The impacts of COVID-19 on our business have been unprecedented. Demand deterioration began in February, and in March cancellations overwhelmed new bookings. Today demand remains over 90% below normal levels,” the company said in a statement.

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