Hawaiian Airlines’ stock is being de-listed on the NASDAQ. The combined organization now trades under the ticker ALK on the New York Stock Exchange.
Joe Sprague, previously Alaska Airlines’ regional president of Hawai‘i/Pacific and president of Horizon Air, will serve as Hawaiian Airlines CEO until the Federal Aviation Administration grants a single operating certificate.
“We are truly honored to join forces with Hawaiian Airlines and its ninety-five-year history,” says Sprague. “We have much to learn from our new colleagues. I know we will be stronger together as we offer greater access and benefits both to Hawai‘i residents and guests visiting the Islands.”
The boards of both parent companies, Alaska Air Group and Hawaiian Holdings, approved the deal last December. The cash transaction worth $18 per share includes $900 million of Hawaiian Airlines net debt. Regulatory approval occurred more swiftly than the twelve months originally anticipated.
Alaska Airlines has about 23,000 employees worldwide, about 2,000 of them in its namesake state. That makes the company the 11th-largest private sector employer in Alaska. Hawaiian Airlines, in business since 1929, is among the largest employers in its home state.
Minicucci says, “Among Alaska, Hawaiian, and Horizon Air, we have more than 230 years of history flying guests and serving communities. I know we will build on that legacy and become stronger together—providing the excellent operation guests have come to expect, expanding options to seamlessly travel nearly anywhere in the world, and securing the financial stability and value that inspires investment.”