Alaska Air Group completed the acquisition of Hawaiian Holdings on September 18, the company announced, “marking the beginning of a partnership” that will maintain the Alaska Airlines, Hawaiian Airlines, and Horizon Air brands as separate entities.
Following the acquisition, Alaska Air Group paid approximately USD1 billion to Hawaiian's shareholders and other equity holders, funding the merger with cash on hand. Additionally, it guaranteed the USD900 million in payment obligations of Hawaiian Airlines. The US Department of Transportation had given its consent to the USD1.9 billion merger on September 17.
Hawaiian Airlines’ stock was delisted and ceased trading on the NASDAQ on September 18. The combined company will continue to trade on the New York Stock Exchange under the ticker 'ALK'.
As part of the merger process, Alaska Air Group appointed Joe Sprague, previously Alaska’s regional president of Hawai’i/Pacific and president of Horizon Air, as the new chief executive of Hawaiian Airlines until the US Federal Aviation Administration (FAA) grants a single operating certificate.
In the meantime, while both airlines work to secure this certificate, they will “continue to operate as separate carriers with no immediate changes to operations and will maintain separate websites, reservation systems, and loyalty programs until the integration process concludes,” Alaska said in a statement.
Alaska Air Group also announced that Honolulu has become a new base for the company and the second largest behind Seattle Tacoma International. The other hubs - Los Angeles International, San Francisco, Portland International, San Diego International, and Anchorage Ted Stevens - will continue to exist. The combined airlines will offer nearly 1,500 daily flights to 141 destinations, including 29 international markets, plus an expanded network through the Oneworld alliance. They will operate a fleet of around 350 aircraft and employ over 33,000 people.
