Alaska Airlines increasing flights; stock price sags

Posted: Tuesday, September 18, 2001

SEATTLE -- Alaska Airlines said today it was flying about 75 percent of its normally scheduled flights and hopes to increase service to 80-85 percent within the next few weeks.

It wasn't clear when -- or if -- the Seattle-based carrier would return to its full schedule.

Bill Ayer, the carrier's president and chief operating officer, said the company would evaluate the prospect of "long-term adjustments" later.

Alaska Airlines spokesman Jack Walsh said it was too early to know if people would really shy away from air travel on the West Coast, where Alaska primarily flies, and whether the company would have to make cutbacks or order layoffs.

Shares in Alaska Air Group, the parent company of Alaska Airlines and Horizon Air, fell nearly 30 percent in Monday's stock trading. Other airlines lost as much as 40 percent of their stock value.

In midday trading Tuesday, shares in Alaska were down 50 cents, at $21.18. on the New York Stock Exchange.

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