February 25, 2024

MediaBizNet

Complete Australian News World

Alaska Airlines buys Hawaiian Airlines in a $1.9 billion deal

Alaska Airlines buys Hawaiian Airlines in a $1.9 billion deal

Alaska Airlines has reached an agreement to buy Hawaiian Airlines, the company announced Sunday.

Alaska Air Group, Inc. will pay. $18 per share – with a deal value of about $1.9 billion – for Hawaiian Holdings, Inc., the parent company of Hawaiian Airlines.

The boards of directors of both companies have approved the deal, which is expected to close within 12 to 18 months, according to a statement issued by the two airlines. The deal still needs approval from US regulators as well as Hawaiian Holdings, Inc.’s shareholders.

Regulatory approval is not a guarantee. Earlier this year, a federal judge ruled JetBlue and American Airlines There was a need to end their partnership, saying the alliance weakened competition and hurt consumers. The Department of Justice is also trying to prevent this JetBlue’s proposed acquisition of Spirit Airlines.

Alaska Air Group has arrived deal in 2016 To buy Virgin America. Alaska Airlines later It dropped the Virgin America name And the slogan.

Under the terms of the new deal between Alaska Airlines and Hawaiian Airlines, the combined organization will be headquartered in Seattle under the leadership of Alaska Airlines CEO Ben Minicucci.

“This combination is an exciting next step in our collective journey to provide a better travel experience for our guests and expand options for travelers on the West Coast and Hawaii,” Minicucci said in a statement.

The airlines said that this move will preserve the two brands and open more travel destinations for travelers. The combined company will offer service to 138 destinations, including non-stop service to 29 major international destinations in the Americas, Asia, Australia and the South Pacific, the statement said.

Earlier this year, travel website The Points Guy posted Alaska Airlines rating As the third best airline in the United States, after Delta Air Lines and United Airlines. Hawaiian Airlines ranked sixth.

READ  Dow futures: Market rally split at tipping point; Tesla creates a new entry