12 Best Aviation Stocks to Buy According to Hedge Funds

6. Alaska Air Group Inc. (NYSE:ALK)

Number of Hedge Fund Holders: 28

Revenue Growth Rate (year-over-year): 8.09% 

Alaska Air Group, Inc. (NYSE:ALK) has three operating segments and two airlines: Horizon and Alaska. The Mainline portion provides scheduled air service for passengers and freight throughout the United States, as well as parts of Mexico and Costa Rica, using Alaska’s Boeing and Airbus jet aircraft. The Regional segment consists of scheduled passenger air transportation provided by Horizon and other third-party carriers under capacity purchase agreements on a shorter-distance network throughout the United States and Canada. The capacity sold to Alaska under a CPA is included in the Horizon category. In addition to ticket breakage and net of taxes and fees, it also generates revenue from passenger supplementary services and Mileage Plan passengers. With a noteworthy YTD return of more than 64%, it is among the best airline stocks.

Alaska Air Group, Inc. (NYSE:ALK)’s revenue rose 8.21% YoY in the third quarter of 2024 as a result of strong booking trends, especially in the Pacific Northwest and Latin America, and resurgent corporate demand that led to close-in booking yield gains. Premium revenue outperformed, with first and premium class revenue increasing by 10% and 8% year on year, respectively, because of increased premium seating capacity.

Ken Griffin’s Citadel Investment Group was the largest stakeholder in the company from among the funds in Insider Monkey’s database. It owns 3.15 million shares worth $142.35 million as of Q3.