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

By Reuters News

CHICAGO, Oct 30 (Reuters) - Alaska Air Group ALK.N 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.

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