Alaska Air to resume share repurchases in 2023

Alaska Air Group said Tuesday it plans to resume share repurchases early next year as carriers see a rebound in travel demand globally. As part of the federal COVID-19 relief package, carriers were prohibited from buying back their shares. The ban, however, had expired on Sept. 30. Demand for air travel, which slumped during the pandemic, has roared back, helping carriers post their strongest earnings in three years. Alaska, whose repurchases next year are expected to range from $75m to $100m, said its demand outlook for the rest of the current quarter remains strong despite a modest softening in corporate travel bookings. The repurchase plan comes months after aviation unions said that carriers should invest in their workers and fix operational issues, before resuming share buybacks.<br/>