On June 11, Alaska Air Group fell 8.09% in regular trading, trading at $41.43/share, with trading volume of $70.82 million. The decline was driven by the International Air Transport Association (IATA) sharply cutting its global airline industry profit forecast.

IATA now expects the global airline industry to post net profit of just $23 billion this year, far below the prior estimate of approximately $41 billion. The association projects global aviation fuel expenditures will surge to approximately $350 billion, up nearly 39% year-over-year. IATA Director General Walsh cited sharply rising jet fuel prices and the impact of regional conflicts on Gulf carriers as key factors behind the downgrade, even as passenger demand remains resilient and industry revenue is projected to exceed $1.1 trillion for the first time.

Alaska Air's CFO had previously stated that higher Q2 ticket prices would offset most fuel cost increases, but acknowledged that West Coast refining margins remain a more challenging issue than crude oil prices. The company indicated it needs greater fuel price stability before resuming financial guidance, potentially at its Q2 earnings call. Enterprise bookings were reported up 20-30% year-over-year over the next 90 days, and summer passenger volumes are expected to reach record highs.

Within the Airlines sector, the overall sector declined broadly. Among individual stocks, American Airlines down 4.86%, United Airlines down 6.49%, Delta Air Lines down 5.44%, Joby Aviation down 3.29%, Southwest Airlines down 4.40%.

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