Alaska Air Group, Inc. ALK announced that it is collaborating with climate-tech company CHOOSE to provide passengers options to reduce their travel-related carbon emissions. Guests can purchase sustainable aviation fuel (SAF) credits or support nature-based climate projects.
Guests can choose between SAF credits or from certified nature-based projects in geographies where the airline flies, such as Doyon Native Community Forest Project, Freres Biochar, The Guatemalan Conservation Coast and more. ALK rewards guests who purchase a certain amount of SAF credits with Elite Qualifying Miles (EQMs). This is part of the airline's year-end elite status promotions.
Alaska Air Mileage Plan members can earn 500 EQMs for every $100 spent on SAF credits. The offer is valid through December 31, 2023. There is a maximum of 5,000 EQMs that can be earned.
This move is in-line with the airline's efforts to go green by reducing its greenhouse gas emissions, without relying on traditional carbon offsets.
Recently, in-line with this SAF related news, United Airlines Holdings UAL announced plans to invest $15 million in carbon-capture technology firm, Svante. This is the latest environment-friendly investment from the new United Airlines Ventures Sustainable Flight Fund.
ALK currently carries Zacks Rank #5 (Strong Sell).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for current-year earnings has jumped 32.6% in the past 60 days.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
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