One hurdle has been cleared in Hawaiian
Airlines¡¯ attempt to merge with Alaska Airlines.
And that is approval from its
own stockholders.
The approval is just the first step for
Hawaiian Airlines to be acquired by Alaska. The rest is up to the United States
Department of Justice and other government regulatory agencies.
And we all saw what happened when JetBlue
Airways tried to acquire Spirit Airlines.
A substantial majority of the
holders of Hawaiian¡¯s stock voted in favor of the merger, according to
preliminary results from a
special meeting. Hawaiian will file the final voting results, as tabulated by
an independent inspector of elections, on a Form 8-K with the U.S. Securities
and Exchange Commission.
¡°Stockholder approval of
our transaction with Alaska is an important milestone toward combining our
airlines,¡± said Hawaiian Airlines President and CEO Peter Ingram. ¡°Together, we
will bring stronger competition to the U.S. airline industry, deliver more
value to our guests and the communities that we serve, and provide greater job
opportunities for our employees.¡±
There is still a way to go,
however.
Hawaiian and Alaska expect
to complete the transaction within 12 to 18 months of the announcement of the
transaction, which occurred on December 3, 2023.
Still, this was an
essential step, as one Hawaiian Airlines investor
had filed a lawsuit to block the deal.?
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