Alaska Air to raise $500 million through debt offering
Alaska Air is raising $500 million in debt to bolster liquidity as the Iran war drives up fuel costs. The carrier now follows rivals in tapping debt markets.
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ALASKA AIR GROUP INC will raise $500 million through a five-year debt offering to bolster liquidity. The move follows a surge in jet fuel prices after Iran closed the Strait of Hormuz. Rising energy costs are eroding margins for West Coast airlines reliant on limited local refining capacity.
Alaska Air announced the plan on midday May 6. The carrier will issue debt securities that mature in 2031.
