Saturday, June 13, 2009

Alaska Airlines board to buy back millions in stock

A plan to repurchase $50 million worth of Alaska Air Group stock was approved by the airline holding group’s board, the company announced Friday. Alaska Air Group is the SeaTac-based holding company for Alaska Airlines and Horizon Air. The repurchases will come from cash on hand. Bill Ayer, the airline’s chairman, said the program will reward stockholders without threatening the airline’s cash situation. Stock buyback programs are designed to enhance stock prices by reducing the number of public shares outstanding