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Alaska Air Group (ALK) Subsidiary to Cease Havana Operations
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Alaska Air Group Inc.’s (ALK - Free Report) wholly-owned subsidiary, Alaska Airlines, has announced that it will discontinue service between Los Angeles and Havana, Cuba, primarily due to soft demand.
Around 80% of the passengers to Havana visited the place for people-to-people educational travel on U.S. allowance. However, President Donald Trump’s recent changes to U.S. policy have discarded such allowances. Coupled with a severe drop in demand since August, the airline was driven to take such a step.
The last plane on the Los Angeles-Havana route will ply on Jan 22, 2018. The carrier will redeploy the Boeing 737 aircraft, used to serve Havana, on the Seattle-Orange County, CA route where demand is higher.
With this move, the carrier joins other U.S. airlines, which are either reducing flights to Cuba or terminating the service entirely. Spirit Airlines (SAVE - Free Report) , Frontier Airlines and Silver Airways have also ceased services to this destination. Moreover, the likes of American Airlines Group (AAL - Free Report) and JetBlue Airways (JBLU - Free Report) have trimmed their services to the nation.
This Zacks Rank #5 (Strong Sell) company began the Los Angeles-Havana flight on Jan 5, 2017. The carrier has launched 44 new routes so far this year and the numbers are expected to increase as per forecasts. The company expects growth of 7.2% this year. For 2018, the airline aims to add capacity in the existing markets and achieve approximately 8% network growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The airline's travelers with bookings to Havana post Jan 22 will be rebooked on another airline free of cost. Conversely, they may be offered a full refund.
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Alaska Air Group (ALK) Subsidiary to Cease Havana Operations
Alaska Air Group Inc.’s (ALK - Free Report) wholly-owned subsidiary, Alaska Airlines, has announced that it will discontinue service between Los Angeles and Havana, Cuba, primarily due to soft demand.
Around 80% of the passengers to Havana visited the place for people-to-people educational travel on U.S. allowance. However, President Donald Trump’s recent changes to U.S. policy have discarded such allowances. Coupled with a severe drop in demand since August, the airline was driven to take such a step.
The last plane on the Los Angeles-Havana route will ply on Jan 22, 2018. The carrier will redeploy the Boeing 737 aircraft, used to serve Havana, on the Seattle-Orange County, CA route where demand is higher.
With this move, the carrier joins other U.S. airlines, which are either reducing flights to Cuba or terminating the service entirely. Spirit Airlines (SAVE - Free Report) , Frontier Airlines and Silver Airways have also ceased services to this destination. Moreover, the likes of American Airlines Group (AAL - Free Report) and JetBlue Airways (JBLU - Free Report) have trimmed their services to the nation.
Alaska Air Group, Inc. Price
Alaska Air Group, Inc. Price | Alaska Air Group, Inc. Quote
This Zacks Rank #5 (Strong Sell) company began the Los Angeles-Havana flight on Jan 5, 2017. The carrier has launched 44 new routes so far this year and the numbers are expected to increase as per forecasts. The company expects growth of 7.2% this year. For 2018, the airline aims to add capacity in the existing markets and achieve approximately 8% network growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The airline's travelers with bookings to Havana post Jan 22 will be rebooked on another airline free of cost. Conversely, they may be offered a full refund.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>