Alaska Air profits fall because of costs related to Virgin America takeover
The parent company of Seattle-based Alaska Airlines reported a quarterly profit Thursday, although earnings were dragged down by the costs of its plans to buy Virgin America Inc.
Alaska Air Group (NYSE: ALK) wrote off $22 million in the third quarter for merger-related costs, according to the company's earnings report.
Alaska is buying Virgin America for $2.6 billion to get a bigger share of the lucrative California flying market and Virgin's landing slots on the East Coast. The deal is being reviewed...