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Alaska Air books 2nd-quarter profit on hedging (USA Today)
Alaska Air Group on Thursday said its second-quarter profit rose 37% despite rising fuel prices, as it accounted for fuel hedges that will close in future quarters. The operator of Alaska Airlines and Horizon Air also said it will cut capacity, and suggested job losses are coming in the fall.

Alaska swings to loss, plans capacity cuts in fall (USA Today)
Alaska Air Group, parent of Alaska Airlines, swung to a quarterly loss Thursday on higher fuel costs and said it plans to cut mainline capacity later this year and again in 2009.

Delta signs maintenance deal with Alaska Air (AP via Yahoo! Finance)
Delta Air Lines Inc. will provide engine overhaul and repair services for Alaska Airlines in a seven-year, $200 million deal between the two carriers.

Southwest, Alaska Post Profits on Hedges; Shares Fall on Oil (Bloomberg.com)
July 24 (Bloomberg) -- Southwest Airlines Co. , the biggest discount carrier, and Alaska Air Group Inc. said second-quarter net income rose as they benefited from contracts locking in lower fuel prices in advance.

Alaska Airlines tightens frequent-flier program (AP via Yahoo! Finance)
Alaska Air Group Inc. will tighten the rules on its frequent-flier program, including a new $25 fee to use miles on other airlines.

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