Alaska to acquire Hawaiian Airlines to boost cargo operations

Alaska Airlines will acquire Honolulu-headquartered Hawaiian Airlines in a deal that in part aims to boost the cargo businesses of both airlines. Alaska Air Group and Hawaiian Holdings have entered into a definitive agreement for the acquisition. Both brands will remain separate. The deal is for $18.00 per share in cash and has a transaction value of approximately $1.9bn, said Alaska Airlines in a press release. The combined company aims to expand the choice of passenger and cargo service options and access throughout the Pacific region, continental US and globally. “The combination of complementary domestic, international, and cargo networks is positioned to enhance competition and expand choice for consumers on the West Coast and throughout the Hawaiian Islands,” said Alaska Airlines. The company further noted: “For Hawaii residents, the combination will expand service and convenience by tripling the number of destinations throughout North America that can be reached nonstop or one stop from the Islands, while maintaining robust Neighbor Island service and increasing air cargo capacity.”