The US Department of Justice (DOJ) is taking another 10 days to review Alaska Air Group’s proposed acquisition of Hawaiian Holdings, with the airlines now agreeing not to close their planned deal before the period ends on 15 August.
The carriers had previously agreed not to close their combination until sometime after 5 August, when a 90-day “review period” by the DOJ’s antitrust division was to expire.
But on 30 July both airlines say in securities filings they have now agreed to give the DOJ another 10 days.
“On July 29, 2024, Alaska and Hawaiian agreed with the DOJ to extend the review period until” 00:01 US eastern time on 15 August, says Alaska’s filing.
“Our airlines have mutually agreed with the DOJ on a brief extension of the formal review period,” Seattle-based Alaska says in a statement. “We continue to believe this combination will enable a stronger platform for growth and competition in the United States, long-term job opportunity for employees and continued investment in local communities and environmental stewardship.”
“We will continue to cooperate with the DOJ in this review process,” Alaska adds.
Hawaiian declines to comment.
On 2 December, Alaska, which operates Alaska Airlines, reached an agreement to acquire Hawaiian, parent to Hawaiian Airlines, for $1 billion. Alaska said it plans to assume $900 million of Hawaiian’s debt through the deal and that it intends to maintain the Hawaiian brand after closing.
The proposed deal kicked off a review by the DOJ’s antitrust division, which has recently taken a hard stance against other airline partnerships. In recent years, the DOJ succeeded in federal lawsuits that blocked two other deals: JetBlue Airway’s proposed acquisition of Spirit Airlines and American Airlines’ partnership in the Northeast USA with JetBlue.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66dd3bda5dc44bf88af3612aea77cdb5&url=https%3A%2F%2Fwww.flightglobal.com%2Fstrategy%2Fus-doj-extends-alaska-hawaiian-antitrust-review%2F159410.article&c=13097396306416234183&mkt=en-us
Author :
Publish date : 2024-07-29 13:00:00
Copyright for syndicated content belongs to the linked Source.
