Alaska Air Acquired Richard Branson’s Virgin America For Over $2 billion: Sources
Alaska Air Group Inc is nearing a deal to acquire Virgin America Inc, the ninth-largest U.S. airline by passenger traffic, for more than $2 billion, having outbid JetBlue Airways Corp (JBLU.O), people familiar with the matter said on Saturday.
The acquisition would herald the first U.S. 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, the people said.
A deal could be announced as early as Monday, the people added, asking not to be identified because the agreement had not yet been finalized. A...