On September 18, 2024, Hawaiian Holdings, Inc. (Hawaiian) completed its merger with Alaska Air Group, Inc. (Alaska), and Marlin Acquisition Corp. (Merger Sub), a subsidiary of Alaska, resulting in Hawaiian becoming a wholly owned subsidiary of Alaska. The merger was initially announced on December 2, 2023, and was finalized on the closing date as per the Merger Agreement. Shareholders of Hawaiian's common and preferred stock received $18.00 per share in cash as merger consideration. The transaction, valued at approximately $1.0 billion, was funded by Alaska with cash on hand. Following the merger, Hawaiian notified Nasdaq to suspend trading, withdraw the listing, and deregister the common stock. The leadership changes include the departure of several Hawaiian directors and officers, with Joseph Sprague appointed as CEO and...Show More

On September 18, 2024, Hawaiian Holdings, Inc. (Hawaiian) completed its merger with Alaska Air Group, Inc. (Alaska), and Marlin Acquisition Corp. (Merger Sub), a subsidiary of Alaska, resulting in Hawaiian becoming a wholly owned subsidiary of Alaska. The merger was initially announced on December 2, 2023, and was finalized on the closing date as per the Merger Agreement. Shareholders of Hawaiian's common and preferred stock received $18.00 per share in cash as merger consideration. The transaction, valued at approximately $1.0 billion, was funded by Alaska with cash on hand. Following the merger, Hawaiian notified Nasdaq to suspend trading, withdraw the listing, and deregister the common stock. The leadership changes include the departure of several Hawaiian directors and officers, with Joseph Sprague appointed as CEO and President of Hawaiian. The merger aims to expand destination access for travelers, maintain the distinct brands of both airlines, and establish Honolulu as a second major hub. The integration process will involve securing a single operating certificate from the FAA, with no immediate changes to operations, websites, or loyalty programs. The merger is expected to provide significant benefits to employees, communities, and shareholders, with at least $235 million in run-rate synergies and accretive earnings projected within the first two years.