Alaska Air Group cut its full-year profit outlook on Thursday on rising labor expenses, as airlines draw up costly contracts to retain employees.
Major U.S. airlines are already feeling the pinch from higher fuel prices, putting a dampener on their outlooks.
Washington State-based Alaska Air said it is moderating capacity growth for the next two quarters to make it more in line with pre-pandemic levels. It expects capacity growth through February 2024 to be up less than 3% over 2019 levels.
