Bid/Ask: Alaska Air snags Virgin; Cucinelli cultures up its workers

$2.6b

Alaska Air Group books Virgin America. Alaska Air bested Jet Blue in a feverish bidding war, as both companies maneuvered to lock up Virgin’s lucrative routes in California and Mexico. The tieup will create the No. 5 U.S. airline by traffic, so it’s expected to draw close scrutiny from antitrust officials. Virgin has won praise for its cabin perks since its 2007 launch, but it didn’t turn a profit until 2013.