Alaska Air Group 1Q2021 cash flow expectation increases

Alaska Air Group reported (15-Mar-2021) 1Q2021 cash flow from operations expectation has increased, as bookings for future travel have shown "strong improvement" in Mar-2021. This cash flow from operations expectation includes expected funds from the CARES Act Payroll Support Program (PSP) grant. If that funding is not received in Mar-2021, guidance will be lower by the amount of the PSP grant funding, or approximately USD200 million.
In Mar-2020, the group entered into a 364 day senior secured term loan agreement which currently has an outstanding balance of USD371 million and is due to mature in full on 25-Mar-2021. It expects to extend the maturity of this agreement into 2022. [more - original PR]