Alaska Air posts multimillion-dollar quarter loss

Alaska Air Group has reported a net loss of $431 million for the third quarter 2020 compared to net income of $322 million in the year-ago period. Excluding payroll support program wage offsets, special items and mark-to-market fuel hedge accounting adjustments, the loss was £399 million. Special items this quarter include $121 million of asset impairment charges relating to permanently parked aircraft. Total revenue was down 71% for the quarter, although this is an 11 point improvement over the last quarter Alaska Air has $3.8 billion in unrestricted cash and marketable securities as of Sept. 30, 2020 and total liquidity