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Alaska Air Group’s ALK subsidiary — Alaska Airlines — announced plans for service expansion as air-travel demand (especially for leisure), which was dampened by the coronavirus crisis, improves gradually. Starting this winter, the airline will start operating seasonal flights from San Francisco, Portland and Palm Springs to destinations across North America.
From Nov 19, Alaska Air will add a new route connecting Palm Springs and Austin (five times a week). Additionally, starting Dec 16, the carrier will launch flights to connect San Francisco and Cancun (weekly). Moreover, flights connecting Tampa to Portland (four times) and New Orleans (three times), respectively, will take to the skies on Dec 16. All these services will end on Apr 18.
We believe that the launch of new service across North America during the holiday season will not only attract travellers, but also recover the carrier from prolonged COVID-19 led crisis. As a result of the anticipated traffic swell, passenger revenues — accounting for bulk of the carrier’s top line — is likely to receive a boost.
Zacks Rank & Stocks to Consider
Alaska Air currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector include Landstar System, Inc. LSTR, Triton International Limited TRTN and Herc Holdings Inc. HRI. Herc Holdings and Landstar sport a Zacks Rank #1 (Strong Buy), while Triton carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and Herc Holdings is projected at 12%, 10% and 42.9%, respectively.
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