Home Airlines Alaska Air snaps up Virgin America

Alaska Air snaps up Virgin America

0
SHARE

Virgin America to be bought for $2.6 billion
There has been some excitement in the aviation world this week, as two of the most liked airlines in the US aim to merge into a single carrier, Skift reports.
Alaska emerged as the winner, beating rival JetBlue Airways after several days of speculation as to who would buy Virgin America. It will pay $2.6 billion, or $57 per share, in cash.
Combined with Virgin’s debt and aircraft operating leases of around $1.4 billion, the ultimate value of the deal is $4 billion. The Virgin brand is likely to give way to Alaska’s brand, but this is not definite.
The purchase gives west-coast carrier Alaska Air access to important east-coast airports in Washington DC and New York. It will have 1,200 daily departures, making it the country’s fifth largest airline.
Skift

LEAVE A REPLY

Please enter your comment!
Please enter your name here