Alaska Airlines 2024 forecast tops estimates after loss from Boeing Max grounding [Video]

Alaska Airlines forecast second-quarter and full-year earnings well ahead of estimates on Thursday with executives predicting a strong peak travel season, despite a first-quarter loss stemming from a midair blowout of a door plug on a nearly new Boeing 737 Max 9 in January.

Alaska received $162 million from Boeing for the Jan. 5 accident, which caused the Federal Aviation Administration to briefly ground the planes. Alaska said it expects additional compensation from the manufacturer.

The Seattle-based carrier lost $132 million, or $1.05 a share in the first quarter, down from a net loss of $142 million, or $1.11 a share a year earlier. 

The accident has added additional regulator scrutiny on Boeing and slowed its deliveries of new Max planes, of which Alaska is a major customer. Alaska CEO Ben Minicucci stood by Boeing on Thursday’s earnings call but reiterated that he expects Boeing to fall short on its airplane delivery plan to the carrier this year.

“We remain committed …