Alaska Airlines to acquire Hawaiian Airlines for $1.9 billion

Alaska Air Group has reached a deal to acquire Hawaiian Airlines for $1.9 billion, the companies announced Sunday.

Alaska will reportedly acquire Hawaiian at $18 per share and take on $900 million of the carrier’s debt.

“What we saw here was a unique opportunity in time at the valuation that we saw Hawaiian at,” said Alaska Airlines CFO Shane Tacket. 

The parties went on to say they expect the merger to go through in between 12 and 18 months.