Seemingly out of nowhere, on December 3, 2023, Alaska Airlines, or rather its parent company, Alaska Air Group, announced that it would acquire Hawaiian Airlines, or rather its parent company, Hawaiian Holdings, in a transaction valued at $1.9 billion, including $900 million of the latter’s debt. At the time, Alaska Airlines and Hawaiian Airlines had a domestic passenger market share of 5.5% and 1.3%, respectively, with the combined company being the fourth largest domestic carrier in the US.
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