Shares of Alaska Air Group Inc. jumped as much as 16% on Tuesday after the airline company shared a plan to boost profits by $1 billion by 2027, targeting earnings of at least $10 per share.

The group also unveiled new routes for the coming year, including nonstop flights connecting Seattle to Tokyo Narita Airport in Japan and Seoul Incheon Airport in South Korea. In September, the airliner formally closed the deal to acquire Hawaiian Airlines for $1.9 billion.

The carrier's stock soared 16.12% to sell at $62.92 a piece at 10:22 am ET. Since the beginning of the year, the company stock has grown by 60.25%.