Alaska Air to Buy Virgin Amer­ica for over $2b

The Economic Times - - Around The World -

New YorK: Alaska Air Group is near­ing a deal to ac­quire Virgin Amer­ica, the ninth-largest US air­line by pas­sen­ger traf­fic, for more than $2 bil­lion, hav­ing out­bid Jet­Blue Air­ways, peo­ple familiar with the mat­ter said on Satur­day. The ac­qui­si­tion would her­ald the first US com­mer­cial air­line merger since US Air­ways and Amer­i­can Air­lines com­bined in 2013 to form the world’s largest car­rier. It would boost the size of Alaska Air’s home mar­ket by al­low­ing it to ex­pand into lu­cra­tive hubs such as San Fran­cisco and Los An­ge­les. Alaska Air is set to pay be­tween $56 and $58 per share to ac­quire Virgin Amer­ica. Reuters

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