Alaska Air forecasts second-quarter profit above estimates on strong travel demand

- Alaska Air Group forecast a better-than-expected profit for the current quarter on Thursday, driven by strong travel demand and expectations for a strong summer season .

The Seattle, Washington-based airline would have reported an adjusted profit of about $5 million for the quarter, absent the groundings of its MAX 9 jets.To address the financial damages, Alaska Air received $162 million in initial cash compensation from Boeing, which has been excluded from its first-quarter results.

"Thanks to thoughtful capacity planning, network optimization, and diligent cost control, we are well positioned to carry our strong performance into the second quarter and beyond," CEO Ben Minicucci said. Net Worth for Baby Boomers: How To Tell Whether You’re Poor, Middle Class, Upper Middle Class or Rich

-- Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.

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Boeing Alaska Air Summer Season

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