Alaska Airlines to Acquire Hawaiian Airlines
Posted on 12/03/2023
Alaska Airlines (Alaska Air Group, Inc.) inked a deal to entered an agreement to acquire Hawaiian Airlines (Hawaiian Holdings, Inc.) for US$ 1.9 billion, including US$ 900 million of the airline’s net debt. The transaction has been approved by both boards, the companies said in a news release this morning. The airlines say the deal will unlock more destinations throughout the Pacific region, continental United States and globally. U.S. airline carriers have steadily consolidated over the year. Honolulu will become a key hub for the combined airlines. It is expected to close in 12-18 months, the companies said.
BofA and PJT advised Alaska Airlines, along with O’Melveny & Myers. Barclays and Wilson Sonsini advised Hawaiian Airlines.