Hawaiian Airlines Shareholders to Vote on Alaska Airlines Merger

The proposed merger between Hawaiian Airlines and Alaska Airlines will be put to a shareholder vote in February.

Hawaiian Airlines shareholders will be the ones casting their votes on the matter, which would involve shareholders receiving $18 per share for the Honolulu-based airline, according to a recent SEC filing by the airline. The vote would bring the massive $1.9 billion merger one step closer to reality.

In December, Alaska Air Group announced plans to acquire Hawaiian Holdings, which owns Hawaiian Airlines.

The purchase price offered by Alaska amounts to a 270 percent premium over the airline’s share price as of December 1, the last trading day before the deal was announced.

The devastating 2023 wildfires on Maui and the subsequent pause in tourism to the island, along with rising fuel costs have had a significant impact on Hawaiian Airlines and its share price had fallen 65 percent as of December.

If the two carriers ultimately join forces they would become the nation’s fifth largest airline. But in a rare move for the industry, Alaska Airlines says even after the merger it will continue to operate both brands.

Even with that said, the merger is likely to attract the attention of U.S. antitrust officials, who have promised to crack down on airline consolidation to prevent monopolies and maintain competition.

The Department of Justice filed a lawsuit last year on a similar matter, seeking to block JetBlue Airways’ proposed $3.8 billion acquisition of Spirit Airlines. A judge has not yet ruled on that matter.

If they combine, Alaska and Hawaiian Airlines would be based in Seattle and led by Alaska CEO Ben Minicucci. The two airlines hope to wrap up all merger details over the next 12 to 18 months.

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