Sept 12 (Reuters) - Alaska Air Group ( ALK ) raised its
third-quarter profit forecast on Thursday, benefiting from
strong summer travel demand and re-bookings from passengers
stranded due to flight cancellations caused by a global cyber
outage in July.
The cyber outage caused by a software update from
cybersecurity firm CrowdStrike ( CRWD ) forced multiple airlines
to halt flight operations while leaving thousands of passengers
stranded across the nation.
However, it also benefited airlines who were not heavily
impacted and led to a flurry of re-bookings from affected
travelers.
Alaska Air's ( ALK ) shares were up 1.6% in premarket trading.
Major U.S. carriers have also experienced strong demand
throughout the summer travel season that has helped them boost
revenues.
Last week, peer JetBlue raised its third-quarter revenue
forecast, citing a benefit from outage-related re-bookings.
Alaska Air ( ALK ) now expects its current-quarter profit per share
to be in the range of $2.15 to $2.25, compared with the
airline's previous forecast of $1.40 to $1.60.
The airline also forecast lower fuel costs for the quarter
through September owing to moderating prices of jet fuel.