Alaska Air Forecasts Worse-Than-Expected Profit Amid Fare Fight

Alaska Air Group Inc. forecast a third-quarter profit below Wall Street’s expectations, joining other US carriers whose bottom lines are being hit by deep fare discounts.

Adjusted earnings will be $1.40 to $1.60 a share, the airline said in a statement Wednesday that also included second-quarter financial results. Analysts had expected $2.06 on average for the period, according to estimates compiled by Bloomberg.

Alaska follows larger rivals including United Airlines Holdings Inc. and Delta Air Lines Inc. that have said extensive price cuts have eroded revenue and expected profits during a summer in which a record 270 million people are ...