March 16, 2020 / 4:19 PM / 23 days ago

BRIEF-Alaska Air Group Says Will Immediately Reduce Capacity For April By At Least 10% From Original Expectations

March 16 (Reuters) - Alaska Air Group Inc:

* ALASKA AIR GROUP INC - WILL IMMEDIATELY REDUCE CAPACITY FOR APRIL BY AT LEAST 10% AND MAY BY AT LEAST 15% FROM ORIGINAL EXPECTATIONS

* ALASKA AIR GROUP INC - WILL MONITOR DEMAND & WILL CONTINUE TO REDUCE CAPACITY ON A ROLLING 15 DAY BASIS AS NEEDED

* ALASKA AIR GROUP - WILL SUSPEND AT LEAST $300 MILLION OF OUR CAPITAL SPENDING

* ALASKA AIR GROUP - PURSUING ADDITIONAL BORROWING OF ABOUT $500 MILLION

* ALASKA AIR GROUP INC - EFFECTIVE MARCH 7, 2020 BRAD TILDEN, CEO AND BEN MINICUCCI, PRESIDENT HAVE REDUCED THEIR BASE SALARIES TO ZERO

* ALASKA AIR GROUP INC - WILL SUSPEND SHARE REPURCHASES

* ALASKA AIR GROUP - WILL FREEZE HIRING ACROSS CO EXCEPT TO FILL ESSENTIAL FRONT LINE & MANAGEMENT ROLES

* ALASKA AIR GROUP INC - ON MARCH 10, 2020 EXPECTED TO REDUCE CAPACITY IN MAY 2020 BY APPROXIMATELY 3%

* ALASKA AIR - ANTICIPATE NEEDING TO EXERCISE FURTHER DISCRETIONARY CHANGES, COST REDUCTION MEASURES, EXPECT TO MAKE DECISIONS OVER NEXT SEVERAL WEEKS Source text : (bit.ly/3aZ8RLd) Further company coverage:

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