Alaska Airlines has announced it will raise half a billion in debt, as the ongoing war in Iran continues to drive up jet fuel prices.
The airline will issue debt securities that mature in 2031, in the wake of jet fuel prices nearly doubling in recent months.
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Join nowThe price of fuel usually forms around a quarter of the operating expense for an airline, and for carriers that are more reliant on imports, the effect is being felt heavily.
Alaskan Airlines will be the third United States-based airline to raise debt in the wake of the war with Iran, joining American Airlines and JetBlue Airways, which raised US$1.4 billion and $500 million, respectively.
