EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

The Company has five qualified defined-benefit pension plans. Four plans are the responsibility of Alaska Airlines, covering salaried employees, pilots, clerical, office, passenger service employees, mechanics, and related craft employees. One plan is the responsibility of Hawaiian Airlines, covering eligible pilots. All plans are closed to new entrants. Hawaiian also sponsors four defined benefit postretirement medical and life insurance plans and a separate plan to administer pilots disability benefits that is accounted for as a qualified plan.

Net periodic benefit costs for qualified plans include the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2024		2023		2024		2023
Service cost	$	7	$	8	$	21	$	22
Pension expense included in Wages and benefits	7		8		21		22
Interest cost	28		27		82		81
Expected return on assets	(33)		(28)		(97)		(85)
Recognized actuarial loss	4		5		13		17
Pension expense included in Non-operating Income (Expense)	$	(1)	$	4	$	(2)	$	13