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Alaska Airlines (ALK) to Benefit From New Route: Here's How
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Alaska Air Group, Inc. (ALK - Free Report) recently announced the addition of a new route to its existing operational routes. The company plans to provide non-stop flights between Everett and Anchorage, starting from Nov 30, 2022. Tickets for the newest route have been made available on alaskaair.com.
Brett Catlin, vice president of network and alliances for Alaska Airlines, stated, "We listened to our guests who live and work from north of Seattle to the Canadian border. They told us one of their top requests is a nonstop flight between Everett and Anchorage."
The new nonstop from Everett will be operated by Alaska Airlines sister airline Horizon Air. With this, Anchorage becomes the farthest destination to be served and the first route to fly north from Everett.
Further, Horizon has started operating a new 74,000 square foot hangar and maintenance facility on the Paine Field property this year, aimed at accommodating up to four E175 aircraft at a time. Horizon Air offers the majority of Alaska Airlines’ service at Paine Field with the Embraer 175 jet.
With its regularly scheduled service launched in March 2019, the company has taken nearly 1.3 million guests to and from Paine Field-Snohomish County Airport.
Alaska Airlines plans to fly to nine destinations — Anchorage, Boise, Las Vegas, Orange County, Palm Springs, Phoenix, San Diego, San Francisco and Spokane — from Everett this fall and winter.
Apart from the improving demand for leisure travel, we believe the need to connect workers and businesses, from the fishing industry to aviation, in the two regions has inspired Alaska to start this new route. This newly launched route should help Alaska Airlines witness a surge in passenger numbers.
Some better-ranked stocks in the broader Zacks Transportation sector that investors can consider are GATX Corporation (GATX - Free Report) ,Triton International Limited and Teekay Tankers Ltd. (TNK - Free Report) ,each carrying a Zacks Rank #2 (Buy).
GATX Corporation has an expected earnings growth rate of 17.8% for the current year. GATX delivered a trailing four-quarter earnings surprise of 28.9%, on average.
The Zacks Consensus Estimate for GATX’s current-year earnings has improved 2.1% over the past 90 days. Shares of GATX have gained 7.9% over the past year.
Triton has an expected earnings growth rate of 22.4% for the current year. TRTN delivered a trailing four-quarter earnings surprise of 7.5%, on average. TRTN has a long-term expected growth rate of 10%.
The Zacks Consensus Estimate for TRTN’s current-year earnings has improved 4.2% over the past 90 days. Shares of TRTN have increased 20.9% over the past year.
Teekay Tankers has an expected earnings growth rate of 140.1% for the current year. TNK delivered a trailing four-quarter earnings surprise of 46.1%, on average. TNK has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved more than 100% over the past 90 days. Shares of TNK have soared 120.3% over the past year.
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Alaska Airlines (ALK) to Benefit From New Route: Here's How
Alaska Air Group, Inc. (ALK - Free Report) recently announced the addition of a new route to its existing operational routes. The company plans to provide non-stop flights between Everett and Anchorage, starting from Nov 30, 2022. Tickets for the newest route have been made available on alaskaair.com.
Brett Catlin, vice president of network and alliances for Alaska Airlines, stated, "We listened to our guests who live and work from north of Seattle to the Canadian border. They told us one of their top requests is a nonstop flight between Everett and Anchorage."
The new nonstop from Everett will be operated by Alaska Airlines sister airline Horizon Air. With this, Anchorage becomes the farthest destination to be served and the first route to fly north from Everett.
Further, Horizon has started operating a new 74,000 square foot hangar and maintenance facility on the Paine Field property this year, aimed at accommodating up to four E175 aircraft at a time. Horizon Air offers the majority of Alaska Airlines’ service at Paine Field with the Embraer 175 jet.
With its regularly scheduled service launched in March 2019, the company has taken nearly 1.3 million guests to and from Paine Field-Snohomish County Airport.
Alaska Airlines plans to fly to nine destinations — Anchorage, Boise, Las Vegas, Orange County, Palm Springs, Phoenix, San Diego, San Francisco and Spokane — from Everett this fall and winter.
Alaska Air Group, Inc. Price
Alaska Air Group, Inc. price | Alaska Air Group, Inc. Quote
Zacks Rank and Stocks to Consider
Currently, Alaska Airlines carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Transportation sector that investors can consider are GATX Corporation (GATX - Free Report) , Triton International Limited and Teekay Tankers Ltd. (TNK - Free Report) , each carrying a Zacks Rank #2 (Buy).
GATX Corporation has an expected earnings growth rate of 17.8% for the current year. GATX delivered a trailing four-quarter earnings surprise of 28.9%, on average.
The Zacks Consensus Estimate for GATX’s current-year earnings has improved 2.1% over the past 90 days. Shares of GATX have gained 7.9% over the past year.
Triton has an expected earnings growth rate of 22.4% for the current year. TRTN delivered a trailing four-quarter earnings surprise of 7.5%, on average. TRTN has a long-term expected growth rate of 10%.
The Zacks Consensus Estimate for TRTN’s current-year earnings has improved 4.2% over the past 90 days. Shares of TRTN have increased 20.9% over the past year.
Teekay Tankers has an expected earnings growth rate of 140.1% for the current year. TNK delivered a trailing four-quarter earnings surprise of 46.1%, on average. TNK has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved more than 100% over the past 90 days. Shares of TNK have soared 120.3% over the past year.