Alaska Air Group reported that, as of March 30, 2026, the Q1 adjusted loss per share is expected to be between ($2.00) and ($1.50) due to increased fuel costs and external disruptions, despite strong bookings and demand trends. The company anticipates an average economic fuel price of $2.90 to $3.00 per gallon, impacted by a surge in refining margins, which have increased by approximately 400%.