Posted on 12/03/2023 1:45:01 PM PST by DFG
Alaska Airlines has entered an agreement to acquire Hawaiian Airlines for $1.9 billion, including $900 million of the carrier's net debt.
According to Sunday's announcement, Alaska Airlines will acquire Hawaiian Airlines for $18 per share in cash.
The airlines say the deal will unlock more destinations throughout the Pacific region, continental United States and globally.
The deal is expected to generate high single-digit earnings accretion for Alaska Airlines within the first two years with no anticipated material impact on long-term balance sheet metrics.
'This combination is an exciting next step in our collective journey to provide a better travel experience for our guests and expand options for West Coast and Hawai'i travelers,' said Ben Minicucci, Alaska Airlines CEO.
He added: 'We have a longstanding and deep respect for Hawaiian Airlines, for their role as a top employer in Hawai‘i, and for how their brand and people carry the warm culture of aloha around the globe.'
The combined organization will be based in Seattle under Minicucci's leadership, and Honolulu will become a key Alaska Airlines hub.
A press release announcing the deal touts a 'stronger platform for growth and competition in the U.S.' as well as 'long-term job opportunities for employees, continued investment in local communities and environmental stewardship.'
The combination of domestic, international and cargo networks is poised to expand choice for the carriers' combined 54.7 million annual passengers.
(Excerpt) Read more at dailymail.co.uk ...
I got to “ride the slide” on a Hawaiian Airlines 757.
It was....an experience.
they will lose all of the investment.
With the new name of ALOHAARP AIR, they're sure to generate a lot of suspicion.
The 'tell' will be any changes to the weather patterns. If only their competitors are affected by sudden, severe storms, that'd be a red flag.
They bought out their competition buying Aloha Airlines.
Flown Hawaiian for mainland travel a few times, but hate going through Honolulu. Seem to catch some bug every time. Been using Southwest and American to avoid Honolulu and shorten the over water flight time.
not a horrible airline, but i hope Alaska opens up new stop choices. A non-stop from the big island to Arizona would be great.
Yes, still do. I returned after being away for 10 years - college and military service. I have experienced the saying, “you can never return home”.
Alaska Air to buy peer Hawaiian for $1.9 billion
https://www.reuters.com/markets/deals/alaska-air-buy-hawaiian-airlines-19-bln-2023-12-03/
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