Alaska Air Group Inc. has agreed to buy Hawaiian Holdings Inc., its rival, for a total of $1.9 billion in combined cash and debt.
![Alaska Airlines acquires Hawaiian Holdings, expanding network and market position in Hawaii's premium flights. PHOTO: Alaska Air](https://krugmaninsights.com/wp-content/uploads/2023/12/ASTF-Air-to-Air-Lock-Ups_FINAL-With-Lock-Up.webp)
This move challenges the Biden administration’s strict position on corporate mergers, which has already hindered one partnership between airlines.
Under the terms of the deal, Alaskan Air will pay $18 per share in cash, including approximately