Alaska Air Group is a U.S. airline holding company operating two passenger airline brands: Alaska Airlines and Hawaiian Airlines. Alaska Airlines is the fourth largest U.S. carrier by system size, with a domestic network concentrated on the West Coast and hubs in Seattle, Portland, Anchorage, Los Angeles, San Diego, and San Francisco. Hawaiian Airlines, acquired in September 2024, serves routes to, from, and within Hawaii, along with select Pacific international routes. Alaska Air Group also operates Horizon Air, a regional carrier that feeds passengers into the Alaska network under capacity purchase agreements. The combined carrier transported roughly 47 million revenue passengers in 2025. Alaska sells primarily direct through its own websites and apps, and is a member of the oneworld global airline alliance. Revenue is roughly 90% passenger-driven, with the loyalty program contributing ~16% of total revenue via co-branded credit card agreements with Bank of America and partner redemptions. Fuel represents ~21% of total operating expenses. Management is executing a multi-year growth plan called "Alaska Accelerate," targeting $1B in incremental pre-tax profit by 2027, built around integrating the Hawaiian acquisition, expanding premium seating across the narrowbody fleet, growing the Atmos Rewards loyalty program, and launching international long-haul routes out of Seattle. Alaska holds over 50% market share in the Hawaii corridor and argues it maintains a ~15% cost advantage over legacy carriers.