Published: Tuesday, June 14, 2011
Alaska Air's board approves stock buyback
SEATTLE -- Alaska Air Group Inc. said Monday that its board approved the repurchase of up to $50 million in company stock.
The parent of Alaska Airlines said it would finance the buyback with cash on hand.
The company said it has repurchased 7.5 million shares for nearly $212 million over the past four years.
Before Monday, Alaska shares had fallen 12 percent since hitting a 52-week high of $70.07 in mid-May. In afternoon trading, they rose $1.27, or 2.1 percent, to $62.82.
The parent of Alaska Airlines said it would finance the buyback with cash on hand.
The company said it has repurchased 7.5 million shares for nearly $212 million over the past four years.
Before Monday, Alaska shares had fallen 12 percent since hitting a 52-week high of $70.07 in mid-May. In afternoon trading, they rose $1.27, or 2.1 percent, to $62.82.
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