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Airline Stocks Drop After Alaska Air Group Update


Passengers have returned to the airways en masse in 2023, which has led to strong performance in airline stocks. It looks like Tuesday’s trading will be a bumpier ride.

Alaska Air Group said Tuesday morning it earned $3 per share on an adjusted basis in the second quarter. That topped analyst expectations of $2.71 per share, according to FactSet.

Other details were less encouraging: the airline said it expects third-quarter revenue growth of 0 to 3% from a year earlier. The top line grew 7% in the second quarter.

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