Alaska Airlines plans to increase non-stop flights to Santa Rosa, Sonoma County from Southern California in time for the summer holidays. It also plans for additional flights to Orange County and San Diego to expand its services and presence in the region.
The Alaska Air Group’s (ALK) subsidiary is planning to operate 13 peak departures, including eight daily non-stop flights to southern California airports with a flight to Burbank Airport. According to Brett Catlin, Alaska’s vice president of network and alliances, Sonoma continues to offer a perfect mix of outdoor locales and a vibrant cultural scene.
Catlin stated,” We’re proud to better connect Southern California with Sonoma and look forward to welcoming guests with our award-winning service this summer.”
Guests traveling with the airline will enjoy award-winning service on a dedicated Embraer 175 Jet customized with a three-class cabin. There will be First Class and Premium Class in addition to hundreds of free movies and TV shows for viewing.
Those heading to Sonoma can take advantage of the Wine Flies Free program. The program is designed to make it easier for travelers to bring their favorite bottles of wine from Santa Rosa and Sonoma County.
Alaska Air Group shares are up 33% year to date after a 23% slide in 2020. (See Alaska Air Group stock analysis on TipRanks).
The expansion of service and presence at Santo Rosa/ Sonoma County comes just days after Raymond James’s analyst, Savanthi Syth, affirmed a Buy rating on Alaska Group stock. In a research note to investors, the analyst stated they expect pronounced pent-up demand in Alaska’s markets amid stronger industry revenue momentum.
“Similar to other U.S. airlines, Alaska has seen a significant improvement in demand/bookings beginning in March.[…] Nevertheless, with trends in Hawaii improving and re-opening of West Coast markets likely prior to the summer peak season, we continue to expect pronounced pent-up demand in Alaska’s markets,” said the analyst.
Syth has since reiterated an $85 price target on Alaska Air Group stock, implying 22.6% upside potential to current levels.
Wall Street analysts have a Strong Buy consensus rating on Alaska Air Group based on 10 Buys and 1 Hold rating. The average analyst price target of $85.50 implies 23.32% upside potential to current levels.
Alaska Air Group scores a strong 8 out of 10 on the TipRanks’ Smart Score ranking system which implies that the stock could outperform the broader market.
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