4-Dec-2023 12:59 PM

Alaska Airlines enters agreement for acquisition of Hawaiian Airlines

Alaska Air Group and Hawaiian Airlines entered (03-Dec-2023) a definitive agreement under which Alaska Airlines will acquire Hawaiian Airlines for USD18 per share in cash for a transaction value of approximately USD1.9 billion. Features of the acquisition will include:

  • The combined airline will maintain both Alaska Air and Hawaiian Air brands while integrating into a single operating platform;
  • The combined organisation will be based in Seattle under the leadership of Alaska Airlines CEO Ben Minicucci;
  • The airline will serve 138 destinations with a fleet of 365 aircraft;
  • Honolulu will become a "key" Alaska Airlines hub;
  • The company will maintain and grow union represented jobs in Hawaii, including preserving pilot, flight attendant, and maintenance bases in Honolulu and airport operations and cargo throughout the state;
  • No anticipated material impact on long term balance sheet metrics with return to target leverage levels expected within 24 months.

Hawaiian Airlines president and CEO Peter Ingram said: "In Alaska Airlines, we are joining an airline that has long served Hawaii, and has a complementary network and a shared culture of service. With the additional scale and resources that this transaction with Alaska Airlines brings, we will be able to accelerate investments in our guest experience and technology, while maintaining the Hawaiian Airlines brand". The acquisition is conditioned on required regulatory approvals, approval by Hawaiian Holdings shareholders and other customary closing conditions, with closing expected between Dec-2024 and Jun-2025. [more - original PR - Alaska Airlines] [more - original PR - Hawaiian Airlines]

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