Alaska Air has agreed to acquire Hawaiian Airlines for $1.9 billion, which includes $900 million of Hawaiian Airlines net debt, the companies said on Sunday, in the latest example of consolidation among US airlines.
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 years with no anticipated material impact on long-term balance sheet metrics.
