Corporate TravelCorporate travel increased +8% in 3Q25, a strong acceleration from down low-single digits in 2Q25.
Hawaiian IntegrationThe integration with Hawaiian Airlines is progressing ahead of schedule, potentially adding $1B in incremental profit.
Long-term OutlookSeveral issues that have impacted ALK's 2025 are one-time and unlikely to repeat in 2026, setting it up well to drive significant earnings acceleration next year and into 2027.