Alaska Air Group (ALK) Announces Stock Repurchase Program of Up To $50 Million
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Alaska Air Group, Inc. (NYSE: ALK) announced that its board of directors approved a stock repurchase program authorizing the company to buy up to $50 million of its common stock.
"This program allows us to enhance shareholder value through the repurchase of outstanding shares while preserving our strong cash balance," said Bill Ayer, the company's chairman and chief executive officer. "Even after the repurchase, Air Group will continue to have the best liquidity position among major U.S. airlines. Today's decision is consistent with the company's practice of repurchasing shares opportunistically and underscores our commitment to provide a reasonable return to investors."
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