Summary by Futu AI
Alaska Air Group, Inc. has successfully obtained an interim exemption from the U.S. Department of Transportation (DOT) on September 17, 2024, for its planned merger with Hawaiian Holdings, Inc. This regulatory milestone follows the December 2, 2023, announcement of the merger agreement between Alaska Air Group, Inc., Hawaiian Holdings, Inc., and Marlin Acquisition Corp., a wholly owned subsidiary of Alaska. The merger, which is expected to close on or about September 18, 2024, will result in Hawaiian Holdings becoming a wholly owned subsidiary of Alaska Air Group. The completion of the merger is contingent upon the satisfaction or waiver of remaining conditions. The companies have cautioned that there are no guarantees the merger will be finalized, acknowledging potential risks and uncertainties that could impact the merger's outcome, including regulatory, legislative, and economic developments.