Merger • Aerospace

Alaska Air Group Acquires Hawaiian Airlines

On December 3, 2023, Alaska Air Group acquired aerospace company Hawaiian Airlines for 1.9B USD

Acquisition Context

This is Alaska Air Group’s 3rd transaction in the Aerospace sector.
This is Alaska Air Group’s 2nd largest (disclosed) transaction.
This is Alaska Air Group’s 5th transaction in the United States.
This is Alaska Air Group’s 1st transaction in Hawaii.

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M&A Deal Summary
Date	December 3, 2023
Target	Hawaiian Airlines
Sector	Aerospace
Buyer(s)	Alaska Air Group
Deal Type	Merger
Deal Value	1.9B USD
Advisor(s)	Barclays Investment Bank (Financial) Wilson Sonsini Goodrich & Rosati (Legal)

Target Company

Hawaiian Airlines

Honolulu, Hawaii, United States

Hawaiian Airlines is an airline company that offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaiʻi and 15 U.S. gateway cities. Hawaiian Airlines is based in Honolulu, Hawaii.

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Buyer Overview 1

Buyer

Alaska Air Group

Seattle, Washington, United States

Category	Company
Founded	1932
Sector	Airlines
Employees	29,773
Revenue	11.7B USD (2024)

DESCRIPTION

Entrance to Alaska Airlines' corporate headquarters in Seattle, Washington.

Alaska Air Group is an airline operator, consists of Alaska Airlines, Virgin America, and Horizon Air which collectively serves more than 100 cities across US, Canada, and Mexico. Alaska Air was incorporated in 1932 and is headquartered in Seattle, Washington.

Deal Context for Buyer	#
Overall	5 of 5
Sector: Aerospace	3 of 3
Type: Merger	1 of 1
State: Hawaii	1 of 1
Country: United States	5 of 5
Year: 2023	1 of 1
Size (of disclosed)	2 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2016-04-04	Virgin America Burlingame, California, United States Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.	Buy	$4.0B

DATE

TARGET

DEAL TYPE

VALUE

2016-04-04

Virgin America

Burlingame, California, United States

Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.

Buy

$4.0B

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