50 SKY SHADES - World aviation news

Alaska Air Nears Deal to Acquire Virgin America

Download: Printable PDF Date: 03 Apr 2016 02:22 categories:
Publisher:
Alaska Air Nears Deal to Acquire Virgin America - Airlines publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes Airline: Alaska Airlines
Source: Fortune

It could be a $2 billion deal.

Alaska Air has emerged as the likely winner of an auction for Virgin America , The Wall Street Journalreported on Saturday, citing people familiar with the matter.

The offer was set to beat a rival bid by JetBlue Airways 0.99% , the people said, according to theJournal.

Alaska Air is expected to pay upwards of $2 billion for Virgin America 0.91% , which currently has a market value of about $1.5 billion, following a surge sparked by recent news that the company was in play, it reported one of the people as saying.

There is no guarantee Alaska Air  -0.01%  will clinch the deal, but if it does, an announcement could come Monday, the Journal quoted its sources as saying.

Virgin America has received takeover bids from JetBlue and Alaska Air as the U.S. budget airline backed by British billionaire Richard Branson explores a sale, a person familiar told Reuters last week.

Asian airlines have also expressed interest in buying Virgin America, although they would have to partner with a U.S. bidder under foreign ownership rules governing U.S. airlines.

Virgin America is 54%-owned by Branson’s Virgin Group and New York-based Cyrus Capital Partners, the Journal said.

 



Loading comments for Alaska Air Nears Deal to Acquire Virgin America...


Recommended

Report reveals least accurate airlines in 2017

Up to 20% of European flights are ruined by a cancelation or delay, but according to OAG, those travelling with airBaltic are 90% safe. Latvian carrier seems to be the exception to the rule, as the ma...

Impressive start to the year - successful Bombardier Global maintenance by Jet MS

Jet Maintenance Solutions (Jet MS), a global provider of integrated aircraft maintenance, repair and overhaul solutions for business and regional aviation, kicked off 2018 with an implemented maintena...

The A350-1000 spreads its wings on a globe-trotting demonstration tour

Twelve stopovers in three weeks provides high visibility for the latest A350 XWB jetliner version Airbus’ flight test A350-1000 jetliner is back home after a demonstration tour to Middle East...

Bell Helicopter rebrands to “BELL”, reflecting expanded vision for the future

INDUSTRY LEADER IN ADVANCED TECHNOLOGY AND INNOVATION MODERNIZES ITS IDENTITY Bell Helicopter, a Textron Inc. company and major global aircraft manufacturer, revealed it has rebranded to...