Alaska Airlines Expands International Network with New Routes to Tokyo, Seoul

Alaska Airlines will launch flights to Tokyo and Seoul next year as part of its strategy to expand international operations, the airline announced Tuesday.

The new routes come alongside an upgraded fourth-quarter financial outlook and a broader plan to increase profits by $1 billion over the next three years.

The airline expects to save at least $500 million by 2027 through efficiencies gained from its recent merger with Hawaiian Airlines. Additionally, Alaska plans to launch a new premium co-branded credit card, aiming to tap into the profitability other carriers have seen with similar initiatives.

As part of its growth strategy, the airline also announced a $1 billion stock buyback program, a move designed to increase the value of existing shares. Following these announcements, shares of Alaska Air Group, based in Seattle, surged 14% during midday trading.

Flights between Seattle and Tokyo’s Narita International Airport will begin in May, while service to Seoul will follow in October. The airline also revealed its goal to serve at least a dozen international destinations from Seattle by 2030, utilizing large jets from Hawaiian Airlines, which it acquired this year for $1 billion, including assumed debt.

Alaska Airlines raised its fourth-quarter earnings forecast to 40 to 50 cents per share, up from a previous estimate of 20 to 40 cents, citing stronger-than-expected holiday bookings. This aligns with similar optimistic forecasts from Southwest Airlines and American Airlines, driven by high demand for leisure travel.