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HA had a market cap that dwindled down to just $251M. $178M Net Book value. The airline never was able to turn the corner after covid. Fuel costs, lingering travel restrictions, the volcano fires.... LUV direct flights locally pushed in on them here. Yet Alaska is offering them $18/share in cash or $1.9B including assumption of debts. HA closed Friday at $4.86/share. Alaska defended the price as cheap by airline standards.
Alaska (was) worth $5.1B. Looks like they have the cash to do the deal already.
Ya, I'm in Hawaii. It was quite a surprise. I like both when I have to fly. I hate to fly. Years ago I did not hate it so much. I suppose I prefer Alaska, between the two. Aloha Airlines is defunct, which left just HA as a home-grown airline. I think The Hawaiian LABEL will still be used? This will open up Alaska to the big, wide Pacific and the southern hemisphere. Years ago, when Russia first opened up, there were flights to Vladivostok, but no more.
HA could never make much money. The old joke: how to become a millionaire? Start as a billionaire, then invest in airlines. The HA share price is in the toilet, ya. Still I won't buy shares in any airline.
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