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Alaska Air Group ALK Air traffic liability — Deferred Revenue

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Other financials

Income statement

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Revenue$4.1B+9.7%
Operating income-$168.0M-161%
Net income-$76.0M-144%
EPS (diluted)-$0.68-148%

Balance sheet

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Cash & equivalents$1.1B+32.8%
Total debt$6.2B-2.2%
Total equity$3.7B-6.9%
Total assets$21.2B+6.8%

Cash flow

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Operating cash flow$185.0M-50.8%
CapEx-$185.0M-315%
Free cash flow--100%

Valuation

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Market cap$5.58B-7.5%
Enterprise value$10.75B-7.4%
P/S0.4×-0.1×

Profitability

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Operating margin-1.5%-5.2pp
Net margin-1.2%-3.5pp
FCF margin4.2%-4.3pp

Returns & leverage

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Return on equity-4.6%-12.3pp
Debt / equity1.7×+0.1×
Current ratio0.5×0.0×

Where this comes from

Reported directly by Alaska Air Group in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The source filing: Alaska Air Group’s 10-Q, filed May 7, 2026.

Filed
May 6, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000766421-26-000021
(in millions, except share amounts)March 31, 2026December 31, 2025
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable$409$324
Accrued wages, vacation and payroll taxes657881
Air traffic liability2,3781,689
Other accrued liabilities1,1211,055
Deferred revenue1,7811,722
Current portion of long-term debt and finance leases498721
Current portion of operating lease liabilities212197

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Alaska Air Group's air traffic liability — deferred revenue?
Alaska Air Group (ALK) reported air traffic liability — deferred revenue of $2.38B in Q1 2026.
What does air traffic liability — deferred revenue mean?
This metric represents the total value of passenger ticket sales for which the air transportation service has not yet been provided. It functions as a liability on the balance sheet, reflecting cash received in advance that will be recognized as revenue once the flight is completed. Monitoring this balance provides insight into future revenue visibility and the underlying demand for upcoming travel bookings.

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