Alaska Air Reports 23% Revenue Jump, Business Travel Bounces Back

Alaska Air Group has reported a record $3.8 billion revenue for Q3 2025, representing a strong 23 percent year-over-year increase.

The Revenue per Available Seat Mile (RASM) grew 1.4 percent, signaling continued travel demand.

Business travel, which had shown signs of softening earlier in the year, rebounded sharply, rising 8 percent compared with Q3 2024.

Premium products and ancillary revenue also performed strongly, with premium cabin sales up 5 percent and cash generated from the loyalty program increasing 8 percent.

CEO Ben Minicucci praised the team for successfully integrating Alaska and Hawaiian Airlines ahead of schedule. To build on that success, the company rolled out Atmos Rewards, a joint loyalty program combining Alaska’s Mileage Plan and HawaiianMiles, and Atmos for Business, a new self-managed business travel loyalty program.

For the next quarter, Alaska anticipates moderate growth in unit revenue and a 2–3 percent expansion in capacity, although operating costs may increase slightly.

Alaska’s record performance puts it in line with other strong industry results. For example, Delta Air Lines posted a record $15.2 billion in revenue during the same period, one of the best quarters in its history.

Photo by Stas Bezukh on Unsplash