Alaska Air Group's stock surged 5.21% during intraday trading on Friday, reversing earlier pre-market losses. The significant upward movement follows the company's latest financial results and major strategic announcements.

The airline reported better-than-expected fourth-quarter earnings with adjusted EPS of 43 cents, significantly surpassing both company guidance of 10 cents and analyst consensus estimates of 12 cents. Despite a slight revenue miss, the company demonstrated strong operational performance with corporate travel increasing 9% year-over-year and diverse revenue streams showing robust growth, including premium revenue up 7%, cargo revenue up 22%, and loyalty revenue up 12%.

Investors responded positively to Alaska Air's massive fleet expansion plans, which include the largest-ever order of 105 Boeing 737-10 jets and five Boeing 787 aircraft, with options for 35 additional 737-10s. The company also highlighted strong early January 2026 bookings with several record days, driving first-quarter managed corporate revenues 20% higher year-over-year. Analyst support from Barclays, which maintained a Buy rating with a $70 price target, further contributed to the bullish sentiment.