Shares of Alaska Air Group Inc. /zigman2/quotes/200972303/composite ALK +0.76% were indicated down close to 1% in premarket trading Friday, after the air carrier provided traffic and revenue expectations for the month of August. The company said it expects total revenue for the month to be down 70% to 75% from a year ago, after a 73% decline in July. The current FactSet consensus for third-quarter revenue of $776 million implies a 67.5% decline. The company said it expects August load factor of 40% to 45%, compared with July load factor of 54%. Capacity is expected to be down 50% from a year ago, compared with the July decline of 63%, while traffic is expected to be down 70% to 75% after being down 74% in July. The company expects revenue passengers of 1.2 million to 1.3 million for the month, up from 1.14 million in July. Cash burn in July was $175 million, which increased from June because of slowing ticket sales and the timing of certain payroll cycles, partially offset by lower debt service. Cash burn is expected to decline to "less than $125 million" in August, primarily because of ticket sales. "The public health and economic crises resulting from the outbreak of COVID-19 has had an unprecedented impact on our business. We are uncertain what shape the recovery will take, and we are continuously monitoring trends in demand to determine our capacity decisions as the situation unfolds," the company said in a statement. The stock has dropped 44.2% year to date through Thursday, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT -0.17% has slipped 0.1% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% has lost 2.3%.