BRIEF-Alaska Air Group Inc - Planning Assumption Is For Our Q4 Capacity To Be Down Approximately 40%

Oct 13 (Reuters) - Alaska Air Group Inc (ALK):

* ALASKA AIR GROUP INC (ALK) - PLANNING ASSUMPTION IS FOR OUR Q4 CAPACITY TO BE DOWN APPROXIMATELY 40%

* ALASKA AIR GROUP INC (ALK) - CAPACITY REDUCTIONS ARE EXPECTED TO CONTINUE INTO 2021 AND WE HAVE BEGUN TO RIGHT-SIZE OUR WORKFORCE

* ALASKA AIR GROUP (ALK) - EARLY-OUT, INCENTIVE LEAVE, NON-UNION MANAGEMENT REDUCTIONS WILL RESULT IN ONE-TIME COST OF ABOUT $320 MILLION, TO BE RECORDED IN Q3

* ALASKA AIR GROUP INC (ALK) - MITIGATION PROGRAMS WERE ACCEPTED BY MORE THAN 4,000 EMPLOYEES

* ALASKA AIR GROUP INC (ALK) - SEPTEMBER CASH BURN WAS APPROXIMATELY $117 MILLION

* ALASKA AIR GROUP INC (ALK) - EXPECT OCTOBER CASH BURN WILL BE APPROXIMATELY $125 MILLION

* ALASKA AIR GROUP INC (ALK) - SEES OCTOBER 2020 TOTAL REVENUE DOWN ABOUT 65%

* ALASKA AIR GROUP INC (ALK) - EFFECTIVE OCT 1, 2020, ABOUT 400 EMPLOYEES, PRIMARILY FLIGHT ATTENDANTS, WERE PLACED ON AN INVOLUNTARY FURLOUGH

* ALASKA AIR GROUP INC (ALK) - AS OF OCTOBER 9, 2020, AIR GROUP HAD CASH AND SHORT-TERM INVESTMENTS OF ABOUT $3.6 BILLION

* ALASKA AIR GROUP INC (ALK) - BASED ON CURRENT CAPACITY AND NETWORK EXPECTATIONS, ANTICIPATE RECALLING MANY OF FURLOUGHED EMPLOYEES BY END OF YEAR

* ALASKA AIR GROUP INC (ALK) - EXPECTED OCT REVENUE PASSENGERS DOWN 60-65%

* ALASKA AIR GROUP (ALK) - EARLY-OUT, INCENTIVE LEAVE AND NON-UNION MANAGEMENT REDUCTIONS WILL RESULT IN ONE-TIME COST OF ABOUT $320 MILLION

* ALASKA AIR GROUP INC (ALK) - SEES OCTOBER 2020 PASSENGER LOAD FACTOR ABOUT 45% TO 50%

* ALASKA AIR GROUP INC (ALK) - ONE-TIME COST OF ABOUT $320 MILLION WILL BE RECORDED IN Q3

* ALASKA AIR GROUP INC (ALK) - SEES OCTOBER 2020 ASMS YEAR-OVER-YEAR DOWN ABOUT 45% Source text for Eikon: [ID: https://bit.ly/3k0Zm36] Further company coverage:

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