Alaska Air (ALK) Operating Expenses (2009 - 2026)
Alaska Air's Operating Expenses came in at $4.23 billion for Q2 2026, up 23.5% from $3.43 billion a year earlier and up 18.3% from the prior quarter.
Powered by 
Analysis
Alaska Air (ALK) Operating Expenses (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Alaska Air reported Operating Expenses of $14.99 billion, up 15.7% year-over-year; for FY2025, it came in at $13.94 billion, up 24.8% from FY2024.
- Operating Expenses has increased in each of the last five years, with a five-year compound annual growth rate of 21.1% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $11.17 billion in FY2024 (+11.3%), $10.03 billion in FY2023 (+4.8%), $9.58 billion in FY2022 (+74.4%) and $5.49 billion in FY2021 (+2.8%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q2 2009.
- Year-over-year, Operating Expenses has increased for 11 consecutive quarters, with growth averaging 22.4% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2022 (growth of 152.7%), and the weakest in Q3 2023 (a decline of 5.0%).
- Business Quant data shows ALK's Operating Expenses at $3.58 billion (Q1 2026), $3.56 billion (Q4 2025) and $3.62 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 171.63 Bn | 166.16 Bn | - | 4.10 Bn |
| 2 | Csx | 89.86 Bn | 86.06 Bn | - | 2.43 Bn |
| 3 | United Parcel Service | 84.68 Bn | 61.58 Bn | - | 21.90 Bn |
| 4 | Canadian Pacific Kansas City | 77.92 Bn | 76.94 Bn | - | 1.95 Bn |
| 5 | Norfolk Southern | 73.47 Bn | 68.11 Bn | - | 2.34 Bn |
| 6 | Fedex | 71.66 Bn | 37.60 Bn | - | 23.46 Bn |
| 7 | Delta Air Lines | 50.99 Bn | 33.17 Bn | - | 18.73 Bn |
| 8 | Old Dominion Freight Line | 39.40 Bn | 38.66 Bn | - | 1.09 Bn |
| 9 | United Airlines Holdings | 32.59 Bn | -23.79 Bn | - | 16.58 Bn |
| 10 | Alaska Air | 3.90 Bn | -3.92 Bn | - | 4.23 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.23 Bn |
| Mar 31, 2026 | 3.58 Bn |
| Dec 31, 2025 | 3.56 Bn |
| Sep 30, 2025 | 3.62 Bn |
| Jun 30, 2025 | 3.43 Bn |
| Mar 31, 2025 | 3.33 Bn |
| Dec 31, 2024 | 3.46 Bn |
| Sep 30, 2024 | 2.73 Bn |
| Jun 30, 2024 | 2.58 Bn |
| Mar 31, 2024 | 2.40 Bn |
| Dec 31, 2023 | 2.52 Bn |
| Sep 30, 2023 | 2.63 Bn |
| Jun 30, 2023 | 2.50 Bn |
| Mar 31, 2023 | 2.38 Bn |
| Dec 31, 2022 | 2.46 Bn |
| Sep 30, 2022 | 2.77 Bn |
| Jun 30, 2022 | 2.47 Bn |
| Mar 31, 2022 | 1.88 Bn |
| Dec 31, 2021 | 1.86 Bn |
| Sep 30, 2021 | 1.70 Bn |
API Access
Alaska Air Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ALK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ALK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ALK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();