08:58 AM EDT, 03/12/2024 (MT Newswires) -- Alaska Air Group ( ALK ) said Tuesday it expects an adjusted Q1 net loss of $0.55 to $0.45 per share and a capacity reduction of around 2.5% in available seat miles compared to a year earlier.

In a filing with the Securities Exchange Commission, the company said that the mid-air Jan. 5 door plug blowout aboard an Alaskan Airlines Boeing (BA) 737-9 MAX and subsequent grounding of planes have reduced its profit by at least $150 million.

Despite partial compensation from Boeing ( BA ), the company attributes a loss of approximately $0.30 per share to the grounding, the company said.

For 2024, the company said capacity expectations remain difficult to predict because of uncertainty over the timing of new aircraft deliveries and increased Federal scrutiny on Boeing ( BA ) and its operations.

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