Posted Dec 4, 2023, 5:53 AM
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Join Date: Jan 2009
Posts: 8,123
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Not directly PDX related, but it does have an impact. Alaska is by far the largest operator at PDX, and the combined Alaska/Hawaiian group would operate 100% of the flights between Portland and Hawaii.
Quote:
Alaska Airlines to buy smaller rival Hawaiian for $1.9 billion
Alaska Airlines said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal, including debt, putting it on track for a potential clash with a Biden administration that has shown wariness about higher fares in the industry.
The combined company would maintain both airlines’ brands, an unusual move in an industry where waves of acquisitions have led to four big brands dominating the U.S. market. On Sunday, the companies said Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86 after losing just over half its value in the year so far.
Officials from both companies called the deal a chance to combine two carriers with few overlapping routes, which they said would create a stronger company to compete with the nation’s Big Four: American Airlines, Delta Air Lines, Southwest Airlines and United Airlines. It would also create a “clear leader” in the lucrative, $8 billion Hawaiian market, Alaska CEO Ben Minicucci said in a conference call with investors.
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...continues at the Oregonian.
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