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SEATTLE - Alaska Airlines (ALK), a $5.4 billion carrier currently identified as undervalued according to InvestingPro analysis, announced a new partnership with Philippine Airlines, marking the latter as its first loyalty partner in North America. The airline, which has demonstrated strong revenue growth of 21% over the last twelve months, continues to expand its strategic partnerships. The collaboration enables Alaska Airlines’ guests to book nonstop flights to Manila from Honolulu and other West Coast hubs directly through the Alaska Airlines website and earn Mileage Plan miles for their travel. This strategic move comes as the airline maintains a solid financial position, with InvestingPro data showing attractive valuation metrics and multiple growth indicators. Discover more insights with InvestingPro’s comprehensive research report, part of its coverage of over 1,400 US stocks.
Starting soon, travelers will have the option to redeem Mileage Plan miles for Philippine Airlines flights. The flight options include five nonstop flights a week from Honolulu, three from Seattle, two daily nonstops from Los Angeles, and a daily nonstop from San Francisco. Connections to additional destinations in Asia can be made from Philippine Airlines’ hub in Manila.
Brett Catlin, Alaska Airlines’ Vice President of Loyalty, Alliances, and Sales, expressed excitement over the new partnership, especially as it coincides with the beginning of Asian American, Native Hawaiian, and Pacific Islander Heritage Month. He highlighted the benefits for the Filipino communities in Hawaii, California, and Washington state, who will soon be able to earn Mileage Plan miles on transpacific flights.
The new partnership builds upon an existing relationship with Hawaiian Airlines, offering improvements and expansions to the cooperation between Hawaiian and Philippine Airlines. HawaiianMiles members will soon be able to earn and redeem miles on Philippine Airlines flights, and they can link their HawaiianMiles and Mileage Plan accounts to match their status for elite benefits on either airline.
Philippine Airlines’ Vice President for Marketing, Alvin M. Miranda, emphasized the strategic collaboration’s value to Mabuhay Miles members, citing enhanced network connectivity and flexibility in mileage use.
This partnership makes Philippine Airlines Alaska’s 32nd global partner. When guests book partner flights through Alaska’s website, they will earn 100% of the miles for the distance flown, with a 250% earning rate for business class fares.
Alaska Airlines, Hawaiian Airlines, and Horizon Air are subsidiaries of Alaska Air Group. Alaska is a member of the oneworld Alliance, with Hawaiian scheduled to join in 2026. The partnership extends travel options for guests to over 1,000 worldwide destinations. The information is based on a press release statement from Alaska Airlines.
In other recent news, Alaska Air Group Inc. reported its Q1 2025 earnings, revealing a larger-than-expected loss. The company posted an adjusted net loss of $95 million, with earnings per share (EPS) of -0.77, missing the forecasted -0.71. Revenue came in at $3.1 billion, also falling short of the anticipated $3.18 billion. Despite these challenges, Alaska Air remains optimistic about its long-term growth strategy, with plans to achieve a $10 EPS target by 2027. The company is also accelerating its $1 billion share buyback program, indicating confidence in its future prospects.
Analysts have noted the softening domestic market demand, though Hawaii remains a strong performer for the airline. The integration of Hawaiian Airlines is progressing, with synergies tracking slightly ahead of plan. Alaska Air expects full-year capacity growth of 2-3%, primarily driven by Hawaiian assets. The airline has maintained its focus on expanding loyalty revenue, which saw a 12% year-over-year increase to $550 million. Despite the current economic uncertainties, Alaska Air is committed to navigating these challenges, supported by its strategic initiatives and market presence.
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