Thursday May 30, 11:37 pm Eastern Time
Alaska Air: Will Grow 9% In 2002, Horizon Air To Grow 12%
FAIRBANKS , Alaska -(Dow Jones)- Alaska Air Group Inc. expects its Alaska Airlines to "grow" 9% in 2002, and its Horizon Air to "grow" 12% for the year.
A company spokesman wasn't immediately available to clarify the growth projection.
In a press release Thursday, the airline also said it will exercise options with Boeing Co. (NYSE: BA - News) for two next-generation Boeing 737s, each worth about $50 million including engines and spare parts.
The airplanes are scheduled for delivery in 2003.
In addition, Alaska Air changed a previous order with Boeing for a 120-seat Boeing 737-700 to a 172-seat Boeing 737-900.
With existing orders and the conversion of options, the airline's fleet will total 109 airplanes by the end of 2003, seven more than the current level.
Alaska Air also said its shareholders approved at the annual meeting a proposal for a long-term incentive equity plan for key employees and officers and an employee stock purchase plan. Also approved was a shareholder proposal to implement simple majority voting