Alaska Airlines has recently made an exciting announcement regarding its plans to acquire Hawaiian Airlines. This merger brings together two highly respected brands with over 90 years of commitment to their employees, guests, communities, culture, and the environment.
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The strategic rationale behind this transaction is compelling. Alaska Airlines, led by CEO Ben Minicucci, recognizes the dedication of its employees and aims to enhance the overall travel experience. On the other hand, Hawaiian Airlines, under the leadership of CEO Peter Ingram, emphasizes the ability to deliver more for guests, employees, and communities. Together, they believe that by operating on a single platform and offering a unified loyalty program, they can expand travel options, create value for shareholders, and provide an attractive premium for Hawaiian Airlines' shareholders.
One of the key benefits of this merger is the combined network of the airlines. With direct access to 138 destinations, including 29 international markets, and over 1,200 global destinations through the Oneworld Alliance, this partnership opens up a world of possibilities for travelers. Annually, these airlines serve a staggering 54.7 million passengers and generate $13.1 billion in revenue as of September 30, 2023.
It is important to note that this announcement contains forward-looking statements that are protected under securities laws and the Private Securities Litigation Reform Act. While Alaska Air Group and Hawaiian Holdings are working towards completing the transaction, there is no guarantee that it will be finalized. Additionally, various risk factors could impact the outcome, and interested parties are encouraged to review the Annual and Quarterly Reports of both companies for a comprehensive understanding.
Furthermore, Hawaiian Holdings and its directors are actively soliciting proxies from stockholders for the approval of the transaction. A proxy statement will be filed with the SEC, detailing the specifics of the transaction. Directors, except for Mr. Ingram, have received restricted stock unit grants that will vest either before the 2024 annual meeting or a change in control. These grants are also subject to severance and change in control agreements. Detailed information on these equity awards and potential payments can be found in the 2023 proxy statement.
To stay updated on the progress of the transaction, stockholders can access the Transaction Proxy Statement and other relevant documents on the SEC's website or through Hawaiian Holdings' investor relations website. Stockholders need to read these documents for important information regarding the transaction.
Alaska Air Group and Hawaiian Holdings are committed to keeping shareholders informed and are dedicated to providing a seamless and enhanced travel experience for their guests. They look forward to the potential growth and opportunities that this merger will bring, not only for the airlines themselves, but for their employees, guests, and communities as well.
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