Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal with debt

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The deal also includes $900 million in Hawaiian debt, which the airlines said brings the acquisition’s total value to $1.9 billion


Alaska Air Group said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt.


The combined company would keep both airlines’ brands, which call the 49th and 50th states their homes. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86. The deal also includes $900 million in Hawaiian debt, which the airlines said brings the acquisition’s total value to $1.9 billion.


The deal still needs approval from the boards of both companies, as well as from the shareholders of Hawaiian Holdings. It will also need the blessing of U.S. regulators, which have shown resistance to more consolidation within the airline industry out of fear it could lead to higher fares.


The companies expect the deal to close in 12 to 18 months.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Dec 04 2023 | 07:19 AM IST

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