Alaska Air to cut 200 jobs as fuel costs threaten $700 million annual loss

CHICAGO, Oct 30 (Reuters) – Alaska Air Group said ​on Friday it ‌would cut about 200 non-contract jobs as soaring fuel ‌prices ​and ⁠geopolitical challenges put ⁠significant financial pressure on its business.

The airline could ​lose as much as $700 million ⁠this ⁠year if current ​conditions persist, its ​first adjusted pre-tax loss ‌outside the pandemic since 2003, Chief Executive ⁠Ben Minicucci said in a memo to ⁠employees ‌reviewed by ⁠Reuters.

The layoffs represent ​less ‌than 1% ​of the ⁠company’s roughly 32,500 employees.

(Reporting by Rajesh Kumar Singh; Editing by Tom ​Hogue)