Another reason not to come here.....
This is only going to get worse as more an more carriers move in on our territory. This is the result when you have a management "team" that is made up of a bunch of pu$$ies who are afraid to take risks.
http://www.forbes.com/feeds/ap/2007/04/09/ap3594498.html
Alaska Air Group Shares Skid
Associated Press 04.09.07, 12:46 PM ET
Shares of
Alaska Air Group Inc., parent of Alaska Airlines and Horizon Air, slumped Monday after a Credit Suisse downgraded it amid concerns of increased competition in Los Angeles.
The Seattle-based company's stock lost $1.59, or 4.1 percent, to $36.99 in midday trading on the New York Stock Exchange. Shares have ranged between $33.60 and $45.85 over the past year.
Credit Suisse analyst Daniel McKenzie downgraded Alaska Air Group (nyse:
ALK -
news -
people ) to "Neutral" from "Outperform" and cut his target price to $49 from $58 in a research report. He wrote that
Delta Air Lines (other-otc:
DALRQ.PK -
news -
people ) Inc. is aggressively building capacity in Los Angeles, affecting 50 percent of the markets Alaska Air Group flies to from Los Angeles International Airport.
Delta is the fourth-largest carrier at the airport, and Alaska is the fifth, according to the analyst. From Los Angeles, Alaska flies to Anchorage, Washington, D.C. and several Mexican destinations, among others.
McKenzie widened his first-quarter loss estimate to a loss of 30 cents per share from a loss of 5 cents per share. Wall Street expects a loss of 20 cents per share, according to an analyst poll by Thomson Financial.
McKenzie said he downgraded Alaska only to a Neutral - and not to "Underperform" - because he sees the company as an attractive buyout target, which should help its stock price.
Go to Skywest or expressjet. Shorter upgrades as well. I feel sorry for our FO's.