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Alaska Air Group ALK Passenger Services — Revenue recognized

Other product segments

Loyalty program other
-$51M

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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$5.66B-9.1%
Enterprise value$10.83B-8.2%
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:ContractWithCustomerLiabilityRevenueRecognized.

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)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Total Deferred Revenue balance at January 1$3,433$3,256
Loyalty points and companion certificate redemption - Passenger revenue(311)(307)
Loyalty points redeemed on partner airlines - Loyalty program other revenue(51)(49)
Increase in liability for loyalty points issued410414
Total Deferred Revenue balance at March 31$3,481$3,314

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FAQ

What is Alaska Air Group's passenger services — revenue recognized?
Alaska Air Group (ALK) reported passenger services — revenue recognized of -$311M in Q1 2026.
How has Alaska Air Group's passenger services — revenue recognized changed year-over-year?
Alaska Air Group's passenger services — revenue recognized decreased by 1.3% year-over-year, from -$307M to -$311M.
What is the long-term trend for Alaska Air Group's passenger services — revenue recognized?
Over 4 years (2021 to 2025), Alaska Air Group's passenger services — revenue recognized has grown at a 20.5% compound annual growth rate (CAGR), from -$639M to -$1.35B.
What does passenger services — revenue recognized mean?
This metric represents the total revenue recognized from ancillary passenger-related services, such as baggage fees, seat selection charges, and other onboard amenities. It reflects the company's ability to monetize secondary service offerings beyond base airfare. Investors use this to evaluate the performance and growth of non-ticket revenue streams within the airline's service portfolio.

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