Alaska Air Group, Inc (NYSE:ALK) reported first-quarter 2024 total operating revenue growth of 2% year-over-year to $2.232 billion, beating the consensus of $2.19 billion. Adjusted EPS stood at $(0.92), down from $(0.62) a year ago, beating the consensus of $(1.05). The airline stated that its first quarter operation and results were significantly impacted by Flight 1282 in January and the Boeing 737-9 MAX grounding, which extended into February. Alaska Air received $162 million in initial cash compensation from Boeing to address the financial damages incurred. Revenue passengers declined 1% Y/Y, traffic was flat, capacity fell 2% Y/Y, and load factor expanded from 79.9% to 81.1%. Economic fuel cost per gallon for the quarter declined by 10% Y/Y to $3.08. During the quarter, ALK inked an agreement to purchase Hawaiian Airlines for $18 per share and ratified a five-year collective bargaining ...