Alaska Air buys Virgin America for $2.6 billion | Money CNN


There’s going to be a little less competition among airlines following a big takeover announced Monday.

Alaska Air Group has agreed to buy Virgin America for $2.6 billion, the airlines said. Alaska Air (ALK) said it will pay $57 per share, sending Virgin America (VA) stock soaring 40%. Including debt and aircraft leases, the transaction is worth about $4 billion.

The combined airline will have 1,200 daily departures, 280 aircraft, and hubs in Seattle, San Francisco, Los Angeles, Anchorage, Alaska, and Portland, Oregon.

Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s