Alaska Air Targets 50% Hawaii Interisland Cargo Share, $750M Cargo Revenue by 2030

Alaska Air Group (NYSE: ALK) aims to capture 50% of Hawaii's interisland cargo market, up from 6%, and grow cargo revenue to $750 million by 2030, executives said Wednesday at an investor event. The Seattle-based carrier plans dedicated intra-Hawaii freighter service from Honolulu using four leased Boeing 737-800 converted freighters announced in late July, painted in Hawaiian Air Cargo livery. Cargo revenue rose 57% to $549 million in 2025 following the September 2024 Hawaiian Airlines merger, and reached $316 million in the first half of 2026, on pace to exceed $600 million. Cargo generates up to 20% of flight revenue on transpacific routes at margins twice the system average, said cargo vice president Ian Morgan. Alaska, which serves five international destinations, will add Paris and Athens in 2027 and targets 15 by 2030. CFO Shane Tackett said the company is two-thirds toward its $1 billion incremental profit and $10 EPS targets by end-2027, citing fuel prices, inflation and Hawaii flooding as headwinds.