Hawaiian Air shareholders approve acquisition, marking ‘important milestone’
HONOLULU (HawaiiNewsNow) - Hawaiian Holdings shareholders on Friday voted to approve the merger agreement with Alaska Air Group, bringing it one step closer to combining the two airlines.
Hawaiian made the announcement in a press release on Friday.
“Stockholder approval of our transaction with Alaska is an important milestone toward combining our airlines,” said Hawaiian Airlines President and CEO Peter Ingram, in a statement.
“Together, we will bring stronger competition to the U.S. airline industry, deliver more value to our guests and the communities that we serve, and provide greater job opportunities for our employees.”
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The two airlines announced the $1.9 billion deal back on Dec. 3, 2023.
Under the merger deal, Alaska Airlines will acquire Hawaiian Airlines for $18 per share for a transaction value that includes $900 million of Hawaiian Airlines’ net debt.
The transaction still remains subject to receipt of required regulatory approvals, along with other customary closing conditions, Hawaiian said, and is expected to be completed within 12 to 18 months from the date of the announcement.
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