SEATTLE (AP) — Alaska Airlines announced on Sunday that it has reached an agreement to acquire Hawaiian Airlines in a $1.9 billion deal, which includes debt. This move could potentially lead to a clash with the Biden administration, as they are concerned about increased fares in the industry.
The merged company will retain the brands of both airlines, which are deeply rooted in the 49th and 50th states of the nation. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed at $4.86 on Friday, having lost over half of its value so far this year.
The deal also encompasses $900 million in Hawaiian debt, bringing the total value of the acquisition to $1.9 billion.
The combined airline will be headquartered in Seattle, with Ben Minicucci, CEO of Alaska Airlines, leading the company. It will join the oneworld Alliance, which includes American Airlines, British Airways, and Cathay Pacific. Additionally, the merger will combine the two networks, providing enhanced connectivity to 138 destinations for passengers traveling within the continental United States and across the Pacific,…
2023-12-03 15:22:15
Source from finance.yahoo.com
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