Alaska Air Group recently confirmed its concerns about the second quarter, revealing in a filing to the US Securities and Exchange Commission that May mainline passenger unit revenue fell 2.3% year-over-year on a 1.8% decline in yield. April passenger RASM had dropped 2.8% from the year-ago month. In addition, the company said advance bookings for June indicate a 1-1.5-point year-over-year drop in load factor.

For the full second quarter, AAG is predicting mainline unit cost to fall 1%-2% from the year-ago period to 10.7-10.8 cents, a slight rise from the 10.6 cents forecast in May. Nonfuel CASM is expected to decline 4%-6% to 7.4-7.5 cents, slightly better than May's guidance. Second-quarter capacity is expected to rise 5% to 6.13 billion ASMs.