Alaska Airlines is buying Hawaiian Airlines, unless the government stops them. They’re paying more than three times the Hawaiian share price at the time the deal was announced, and the real question is… why? This is a great deal for Hawaiian’s shareholders. Hawaiian Airlines frequent flyers will get more valuable miles out of the deal. There will probably be some reduction in seats flying between the Hawaiian islands, but that’s happening anyway as Southwest Airlines pulls back. Southwest saturated the market. Alaska is picking up planes, pilots, and experience flying to Asia Pacific destinations which the Seattle-based carrier has never done before. It doesn’t do any long haul flying. There just isn’t that much else for Alaska in the deal. A Honolulu hub that has no moat. Mainland – Hawaii flying is highly competitive, with…
