Alaska Air Group announces stock repurchase program

Alaska Air Group released that its board of directors approved a stock repurchase program authorizing the company to purchase up to $50 million of its common stock. The new program follows the completion on Feb. 29, 2008, of a program to repurchase $100 million of the company’s outstanding stock. Under the program just completed, the company repurchased 4,113,782 shares, or 10% of the outstanding stock at the start of the program, at an average price of $24.31 per share.