Alaska Air to buy Hawaiian Airlines for $1.9 bln (updated)

Hawaiian Holdings

03/12/2023 19:21

(Adds details form the press release)
       Dec 3 (Reuters) - Alaska Air  ALK.N  said on Sunday that
it has entered an agreement to acquire Hawaiian Airlines  HA.O 
for $1.9 billion, which includes $0.9 billion of Hawaiian
Airlines net debt. 
        Alaska Airlines will acquire Hawaiian Airlines for
$18.00 per share in cash, the two companies said, adding that
the transaction will unlock more destinations and expand access
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
year, it said. 
  
        The combined organization will be based in Seattle under
the leadership of Alaska Airlines CEO Ben Minicucci.     
  
    
    
    

 (Reporting by Akanksha Khushi in Bengaluru; editing by Diane
Craft)
 ((Akanksha.Khushi@thomsonreuters.com;))