On September 30, 2024, Alaska Air Group, Inc. announced the launch of a private offering of senior secured notes due in 2029 and 2031 by AS Mileage Plan IP Ltd., a wholly-owned subsidiary of the company. The notes, guaranteed by Alaska Airlines, Inc. and AS Mileage Plan Holdings Ltd., are secured by collateral associated with Alaska's customer loyalty program. The proceeds from the offering and a new loyalty term loan facility will be used to fund reserve and collection accounts, with the latter facilitating an intercompany loan to Alaska. This loan will enable Alaska to redeem certain debts, including Hawaiian Airlines' senior secured notes, and support general corporate purposes. The offering is targeted at qualified institutional buyers and is exempt from registration under the Securities Act of 1933. This follows the merger of Alaska Air Group with Hawaiian Airlines, completed on September 18, 2024, as per the agreement dated December 2, 2023. The unaudited pro forma condensed combined financial information reflecting the merger has been filed with the SEC.

On September 30, 2024, Alaska Air Group, Inc. announced the launch of a private offering of senior secured notes due in 2029 and 2031 by AS Mileage Plan IP Ltd., a wholly-owned subsidiary of the company. The notes, guaranteed by Alaska Airlines, Inc. and AS Mileage Plan Holdings Ltd., are secured by collateral associated with Alaska's customer loyalty program. The proceeds from the offering and a new loyalty term loan facility will be used to fund reserve and collection accounts, with the latter facilitating an intercompany loan to Alaska. This loan will enable Alaska to redeem certain debts, including Hawaiian Airlines' senior secured notes, and support general corporate purposes. The offering is targeted at qualified institutional buyers and is exempt from registration under the Securities Act of 1933. This follows the merger of Alaska Air Group with Hawaiian Airlines, completed on September 18, 2024, as per the agreement dated December 2, 2023. The unaudited pro forma condensed combined financial information reflecting the merger has been filed with the SEC.