Alaska Air to cut 200 jobs, warns of potential $700 million annual loss

Alaska Air Group is preparing to eliminate around 200 non-contract positions amid rising fuel costs. Chief Executive Ben Minicucci indicated potential losses of USD 700 million if current conditions persist. These cuts will affect less than 1 per cent of the airline's approximately 32,500 employees across Washington and Hawaii. Employees impacted will remain on payroll until the end of December. The company aims to regain financial discipline following disproportionate growth in overhead expenses.