Alaska Air Group Inc. reported a pretax profit, excluding special items and other adjustments, of $411.0 million for the first nine months of 2025, down from $592.0 million for the same period in 2024. The decrease of $181.0 million was mainly due to a $365.0 million increase in non-fuel operating expenses, primarily from higher wages and variable costs. This was partially offset by $189.0 million in lower fuel costs. For the third quarter of 2025, Alaska Airlines reported a pretax profit, excluding special items and other adjustments, of $187.0 million, compared to $351.0 million in the third quarter of 2024, with the decline attributed to increased non-fuel operating expenses and reduced revenue from lower traffic, partially offset by lower fuel costs. During the period, Alaska Air Group sold 12 B737-900 aircraft, recognizing a gain of $57.0 million. Cash provided by operating activities was $1.1 billion in the first nine months of 2025. The company stated its liquidity position is sufficient to meet needs for the next 12 months.