Shares of Alaska Air Group Inc. rose 1.4% in premarket trading Thursday, after the air carrier detailed its 2022 outlook for capacity and capital expenditures ahead of its investor day. The company said its 2022 outlook, as detailed in its fourth-quarter results reported in late-January, includes expectations for capacity to rise 1% to 3% from pre-pandemic 2019 levels and for capex of $1.6 billion to $1.7 billion. The company said it expects its network to grow an average of 4% to 8% per share through 2025. Separately, the company said it extended its co-branded credit card agreement with Bank of America Corp. through 2030. Alaska Air’s stock has gained 2.1% over the past three months through Wednesday, while the U.S. Global Jets ETF has declined 5.2% and the S&P 500 has lost 5.7%.
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