Alaska Air and IAM tentatively agree on new five-year contract Alaska Airlines and the International Association of Machinists and Aerospace Workers have reached tentative agreement on a new five-year contract for the carrier's 2,500 clerical, office and passenger service employees. The proposed contract includes pay raises and job security provisions, among other improvements.
Alaska Air upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Alaska Air to Neutral and increased its price target to $78 from $75. The firm believes the worst is behind Alaska Air as competitive capacity adds in Seattle are declining. Credit Suisse expects the company to buyback up to 8% of its market cap in 2015 and said Alaska Air has the best balance between growth, cost controls, and shareholder returns while maintaining an investment grade balance sheet.