Alaska Air Group Inc. (NYSE:ALK) has requested a nationwide ground stop for all its mainline aircraft, the U.S. Federal Aviation Administration (FAA) status page reported on Sunday.
Check out the current price of ALK stock here.
What Happened: According to Reuters, all destinations were affected by the ground stop for Alaska’s mainline fleet.
Neither Alaska Airlines nor the FAA immediately responded to Benzinga‘s requests for comment outside of regular business hours.
A message on the airline’s website read, "We are experiencing issues with our IT systems. We apologize for the inconvenience and are working to resolve the issues.”
The Seattle-based airline also said there would be residual impacts to its operations throughout the evening, without providing more details.
Why It Matters: The disclosure of Alaska’s IT issues coincides with warnings from Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Palo Alto Networks Inc. (NASDAQ:PANW) about the “Scattered Spider” hacking group’s targeting of the aviation sector.
A hack disrupted some IT systems at Hawaiian Airlines, an Alaska Air Group company, in June. Alaska Air Group stated it was still calculating the financial impact, reported Reuters.
Price Action: Shares of Alaska Air ended 0.28% lower on Friday in after-hours trading. It was down 17.34% on a year-to-date basis and up 37.23% over the past year.
Benzinga Edge Stock Rankings shows that ALK had a stronger price trend over the short, medium, and long term. Its momentum ranking was decent, and its value ranking was moderate at the 55.45th percentile. The details of other metrics are available here.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, ended lower on Friday. The SPY was down 0.07% at $627.58, while the QQQ advanced 0.09% to $561.26, according to Benzinga Pro data.
On Monday, the futures of the S&P 500, Nasdaq 100, and Dow Jones indices were higher.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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