Alaska Airlines announced on Tuesday its plans to launch new international routes to Tokyo and Seoul next year as part of its strategy to expand global flight services over the coming years.

As the airline shared the details of these new routes, it also revised its financial forecast for the fourth quarter, predicting a significant increase in profitability. This move is part of a larger initiative to enhance their earnings by $1 billion over a three-year period. The merger with Hawaiian Airlines is expected to foster greater operational efficiencies that could result in savings of at least $500 million by 2027.

In addition to these developments, Alaska Airlines intends to introduce a premium co-branded credit card, a strategy that has proven successful for other airlines in increasing revenue.

Moreover, the airline has committed to a significant $1 billion stock buyback program, which is designed to enhance the value of existing shares for its investors. Shares of Alaska Air Group, based in Seattle, surged by 14% during midday trading following the announcement.

Starting in May, Alaska Airlines will commence flights from Seattle to Tokyo’s Narita International Airport, followed by the introduction of the Seattle-Seoul route in October.

By 2030, the airline aims to operate flights from Seattle to a minimum of twelve international destinations, utilizing larger jets obtained from Hawaiian Airlines in a recent acquisition deal valued at $1 billion plus the assumption of its existing debts.

Alaska Airlines has also raised its earnings expectations for the fourth quarter to between 40 and 50 cents per share, a notable increase from its previous estimate of 20 to 40 cents per share. This revision is attributed to better-than-anticipated booking figures for November and December. Similar positive forecasts were issued last week by both Southwest Airlines and American Airlines, reflecting a strong demand for leisure travel.