Benzinga | Aug 16, 2021 03:31PM EDT

Alaska Airlines Continues Fleet Optimization, Adds 12 Boeing 737-9 Aircraft

* Alaska Air Group, Inc. (NYSE:ALK) has accelerated its fleet growth by exercising options early on 12 Boeing (NYSE:BA) 737-9 aircraft.

* The option aircraft are now firm commitments for 2023 and 2024, bringing Alaska's total firm 737-9 order to 93 aircraft, five of which are currently in service.

* Alaska announced a restructuring agreement with Boeing in December 2020 to acquire 68 737-9 aircraft between 2021 and 2024, with options for another 52 deliveries between 2023 and 2026.

* The airline has exercised 25 of the options, including 13 planes in May. As part of this transaction, Alaska will add 25 options to backfill the ones that have been exercised.

* Price Action: ALK shares are trading lower by 0.35% at $56.41, and BA is down 2.21% at $229.34 on the last check Monday.