Item 8.01 (Other Events): Alaska Air Group experienced an IT outage on October 23, 2025 that temporarily halted ground operations for Alaska and Horizon airlines The ground stop was subsequently lifted, but the company is still addressing operational impacts from the disruption The company's planned third quarter conference call for October 24, 2025 was canceled due to the IT outage At the time…

Our analysis rates this filing CAUTIOUS. The elevated concern level reflects significant operational disruption from the IT systems failure, creating material uncertainty about potential financial consequences. The inability to quantify the impact, combined with an increasing risk trend and…

Concern level: HIGH (6.5/10). Key factors: Unexpected IT systems outage causing operational disruption; Ground stop for Alaska and Horizon airlines; Management unable to estimate financial impact of IT incident.

Notable risk changes: Unexpected IT systems outage causing operational disruption; Canceled quarterly conference call suggests significant internal uncertainty; Potential for material financial impact from ground stop and system failures.

The model predicts ALK will underperform the S&P 500 by about 0.0% over 30 days (model confidence 50%). This is model analysis for research, not investment advice.