Gates’ Investment Firm Buys Alaska Air Stake
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Microsoft Corp. Chairman Bill Gates’ personal investment firm has taken a 5.3% stake in Alaska Air Group.
Cascade Investment, an investment firm with Gates as its sole investor, disclosed holding 1.4 million common shares of Seattle-based Alaska Airlines in a Securities and Exchange Commission filing.
The stock (ALK) rose on the news, adding 63 cents to $22.31 on the New York Stock Exchange.
In January, an Alaska Airlines jetliner crashed into the ocean near Los Angeles, killing 88 people on board. The jet was found to have a damaged jackscrew, which helps move the plane’s horizontal stabilizer.
The company’s stock has been beaten down 36% year to date.
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