Alaska Air Group (ALK) said Wednesday it has completed its $1.9 billion acquisition of Hawaiian Holdings (HA).
Alaska Air said it plans to work towards a single operating certificate for both subsidiaries, Alaska Airlines and Hawaiian Airlines, with the Federal Aviation Administration but will maintain separate brands and operations in the meantime.
Alaska Air said Joe Sprague, previously its regional president of Hawaii and Pacific, will serve as CEO of Hawaiian Airlines until the FAA grants a single operating certificate.
The acquisition is expected to generate $235 million in synergies and high single-digit earnings accretion within the first two years, Alaska Air said.
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