Alaska Airlines gets $1.2 billion through loans backed by aircraft

By Devika Patel

Knoxville, Tenn., July 2 – Alaska Airlines has secured nearly $1.2 billion of private loans to secure its financial stability during the Covid-19 recovery period, according to a press release.

Alaska will use 61 of its aircraft as collateral to back the debt. The aircraft will remain encumbered until the debt is repaid, with $966 million to be repaid by Aug. 15, 2027 and $208 million to be repaid by Aug. 15, 2025.

The debt financing will settle on or around July 2.

The airline is based in Seattle.

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