アラスカ航空とハワイアン航空が経営統合。ハワイアン航空のワンワールド加盟か！？JALマイルの利便性アップ！？
JALマイルを貯めている人にはワンワールドの動向が、ANAマイルを貯めている人にはスターアライアンスの動向が、それぞれ非常に重要になります。マイレージは自社マイルで特典航空券が取れるのは自社便だけではなく、同一アライアンス内の特典航空券が取れたりしますからね。加盟航空会社が減ると、特典航空券が取れる航空会社が減少する事を意味しますし、増えると特典航空券が取れる航空会社が増えることを意味しますからね。
ということでJALマイラーは注目のニュースです。
アラスカ航空がハワイアン航空を買収。ブランドはそのままで運航は継続。マイレージは共通化？ハワイアン航空はワンワールド加盟へ？
米国のシアトルを本拠地としているアラスカ航空（ワンワールド加盟）と、ハワイのホノルルを本拠地とする日本人にも馴染みのあるハワイアン航空（アライアンス未加入）が経営統合されることになりました。細かい状況としては、アラスカ航空がハワイアン航空を19億ドルで買収し、ハワイアン航空を傘下に収めたという内容です（統合完了には1年半ほどかかるとのこと）。
統合後もアラスカ航空およびハワイアン航空の名称はそのままで、運航は別々に行うとのことですが、公式リリースを読むとマイレージプログラムは統一？？？する方向のように思えるので、アラスカ航空のマイレージに寄せる形になるのかなと思います。アラスカ航空のマイレージは、バイマイルも可能で、日本人でも馴染みがある人もいると思うので、そのマイレージがハワイアン航空でも使えるというのはいいニュースですね。
そして、そして、気になるのはこれってハワイアン航空もワンワールド加盟となるの？？ってところですね。公式リリースを読むと、
- Both before and after the combination is official, your existing miles will be honored.
- After closing, the two airlines’ loyalty programs will integrate into a shared loyalty program.
- Hawaiian Airlines’ existing customers will enjoy the benefits of the industry’s highest-value customer loyalty program, earning and redeeming miles and receiving elite benefits on the full complement of oneworld Alliance airlines, global lounge access, and companion passes with the Alaska Airlines brand credit card.
- You can continue to earn and redeem frequent flyer benefits and HawaiianMiles on our app and online at www.hawaiianairlines.com.
ワンワールドのコネクションを利用できるようになるという書き方はしているような感じですが、ハワイアン航空そのものがワンワールドに加入することになると明言はされいないような感じの書き方にも思えるのですが、すでにアラスカ航空はワンワールドに加盟しており、その傘下となるハワイアン航空が、アラスカ航空とマイレージプログラムを統一する方向なので、これはハワイアン航空もワンワールドに加盟ということになるのではないでしょうかね。
そうなると、同じワンワールドであるJALとハワイアン航空の結びつきがさらに強くなったりするわけですね。すでに現状でも、JALとハワイアン航空はコードシェアも行っており、JALマイルでハワイアン航空の特典航空券を取ることも可能ですし、自分もJALマイルでハワイアン航空に搭乗したことがあります。
ただ、現状はJALとハワイアン航空が独自に提携しているだけなので（他にもエミレーツ航空やエールフランスなどと独自提携あり）、JALマイルを利用したハワイアン航空の特典航空券は、ハワイアン航空以外の航空会社を含むことができないんですよね。これが、もしワンワールドに加盟することになると、ワンワールド加盟航空会社は、複数混ぜて特典航空券を発券することも可能なので、地方都市から東京までJAL→東京からハワイまではハワイアン航空というような特典航空券も1つの特典航空券で発券が可能になってきます。こうなると、みんな大好きなJALマイルの利便性がかなり向上しますね！！アライアンスの加盟航空会社が増えるというのは、マイレージにも変化あるので重要な情報になってくるんですよね。アラスカ航空＆ハワイアン航空がどうなるのか、JALマイルを貯めながら今後も注目ですね！！
最後に英語にはなりますが、アラスカ航空からプレスリリースを順に記載しておきます。ハワイアン航空のプレスリリースはこちら。
Alaska Airlines and Hawaiian Airlines to Combine,
Expanding Benefits and Choice for Travelers Throughout Hawai‘i and the West Coast
• Combined company to maintain Alaska Airlines’ and Hawaiian Airlines’ strong, high-quality
brands, supported by a single, compelling loyalty offering.
• Expands fifth largest U.S. airline to a fleet of 365 narrow and wide body airplanes enabling
guests to reach 138 destinations through our combined networks and more than 1,200
destinations through the oneworld Alliance.
• Honolulu to become a key hub for the combined airline with expanded service for residents of
Hawai‘i to the Continental U.S. and creating new connections to Asia and throughout the Pacific
for travelers across the U.S.
• Commitment to Hawai‘i remains steadfast, including maintaining robust Neighbor Island air
service, and a more competitive platform to support growth, job opportunities for employees,
community investment and environmental stewardship.
• Committed to maintaining and growing union-represented workforce in Hawai‘i.
• Combination will result in immediate value creation with sizable upside. All-cash transaction of
$18 per share offers attractive premium for Hawaiian Airlines shareholders and is expected to be
accretive to Alaska’s earnings within two years post-close with at least $235 million of expected
run-rate synergies.
• Investor conference call scheduled for today at 5:00 p.m. ET / 2:00 p.m. PT / 12:00 p.m. HT.
SEATTLE and HONOLULU, December 3, 2023 – Alaska Air Group, Inc. (NYSE: ALK), and Hawaiian Holdings,
Inc. (NASDAQ: HA) today announced that they have entered into a definitive agreement under which
Alaska Airlines will acquire Hawaiian Airlines for $18.00 per share in cash, for a transaction value of
approximately $1.9 billion, inclusive of $0.9 billion of Hawaiian Airlines net debt. The combined company
will unlock more destinations for consumers and expand choice of critical air service options and access
throughout the Pacific region, Continental United States and globally. The transaction is expected to
enable a stronger platform for growth and competition in the U.S., as well as long-term job opportunities
for employees, continued investment in local communities and environmental stewardship.
As airlines rooted in the 49th and 50th U.S. states, which are uniquely reliant upon air travel, Alaska
Airlines and Hawaiian Airlines share a deep commitment to caring for their employees, guests and
communities. This combination will build on the 90+ year legacies and cultures of these two serviceoriented airlines, preserve both beloved brands on a single operating platform, and protect and grow
union-represented jobs and economic development opportunities in Hawai‘i, with a combined network
that will provide more options and added international connectivity for travelers through airline partners
including, the oneworld Alliance.
“This combination is an exciting next step in our collective journey to provide a better travel experience
for our guests and expand options for West Coast and Hawai‘i travelers,” said Ben Minicucci, Alaska
Airlines CEO. “We have a longstanding and deep respect for Hawaiian Airlines, for their role as a top
employer in Hawai‘i, and for how their brand and people carry the warm culture of aloha around the
globe. Our two airlines are powered by incredible employees, with 90+ year legacies and values
grounded in caring for the special places and people that we serve. I am grateful to the more than
23,000 Alaska Airlines employees who are proud to have served Hawai‘i for over 16 years, and we are
fully committed to investing in the communities of Hawai‘i and maintaining robust Neighbor Island
service that Hawaiian Airlines travelers have come to expect. We look forward to deepening this
stewardship as our airlines come together, while providing unmatched value to customers, employees,
communities and owners.”
“Since 1929, Hawaiian Airlines has been an integral part of life in Hawai‘i, and together with Alaska
Airlines we will be able to deliver more for our guests, employees and the communities that we serve,”
said Peter Ingram, Hawaiian Airlines President and CEO. “In Alaska Airlines, we are joining an airline that
has long served Hawai‘i, and has a complementary network and a shared culture of service. With the
additional scale and resources that this transaction with Alaska Airlines brings, we will be able to
accelerate investments in our guest experience and technology, while maintaining the Hawaiian Airlines
brand. We are also pleased to deliver significant, immediate and compelling value to our shareholders
through this all-cash transaction. Together, Hawaiian Airlines and Alaska Airlines can bring our authentic
brands of hospitality to more of the world while continuing to serve our valued local communities.”
Complementary Networks and Greater Choice for Alaska Airlines and Hawaiian Airlines’ Combined
54.7 million Annual Passengers
The combination of complementary domestic, international, and cargo networks is positioned to
enhance competition and expand choice for consumers on the West Coast and throughout the Hawaiian
Islands through:
• Preserving outstanding brands: The combined airline will maintain both industry-leading Alaska
Airlines and Hawaiian Airlines brands while integrating into a single operating platform, enabling
the remarkable service and hospitality of each to be enjoyed by passengers with continued
excellence in operational reliability, trust and guest satisfaction for which both companies have
been consistently recognized.
• An enhanced product offering for a wide range of consumers: The combination preserves and
expands high-quality, best-in-class product offerings with price points to make air travel
accessible to a wide range of consumers across a range of cabin classes, including greater choice
between Alaska Airlines’ high-value, low-fare options and Hawaiian Airlines’ international and
long-haul product on par with network carriers.
• Complementary networks expand travel options: Passengers traveling throughout the
Continental U.S., U.S. West Coast and across the Pacific will benefit from more choice and
increased connectivity across both airlines’ networks, with service to 138 destinations including
non-stop service to 29 top international destinations in the Americas, Asia, Australia and the
South Pacific, and combined access to over 1,200 destinations through the oneworld Alliance.
• Expanded service for Hawai‘i: For Hawai‘i residents, the combination will expand service and
convenience by tripling the number of destinations throughout North America that can be
reached nonstop or one stop from the Islands, while maintaining robust Neighbor Island service
and increasing air cargo capacity.
• Strategic Honolulu hub: Honolulu will become a key Alaska Airlines hub, enabling greater
international connectivity for West Coast travelers throughout the Asia-Pacific region with onestop service through Hawai‘i.
• Increased loyalty program benefits: The transaction will connect Hawaiian Airlines’ loyalty
members with enhanced benefits through an industry-leading loyalty program for the combined
airline, including the ability to earn and redeem miles on 29 global partners and receive elite
benefits on the full complement of oneworld Alliance airlines, expanded global lounge access
and benefits of the combined program’s co-brand credit card.
Delivering Substantial Benefits for Employees and Communities in Hawai‘i
As one of Hawai‘i’s largest employers, Hawaiian Airlines has a long legacy of commitment to its
employees, who shaped the company over its 94-year history, and to local communities, culture, and the
natural environment. As an integrated company, Alaska Airlines and Hawaiian Airlines will continue this
stewardship and maintain a strong presence and investment in Hawai‘i. The combined company will
drive:
• Growth in union-represented jobs: Maintain and grow union-represented jobs in Hawai‘i,
including preserving pilot, flight attendant, and maintenance bases in Honolulu and airport
operations and cargo throughout the state.
• Strong operational presence: Maintain a strong operations presence with local leadership and a
regional headquarters in Hawai‘i to support the combined airlines’ network.
• Opportunities for employees: Provide more opportunities for career advancement, competitive
pay and benefits, and geographic mobility for employees.
• Expansion of workforce development initiatives: Continue and expand access to workforce
development initiatives, including Hawaiian Airlines’ partnership with the Honolulu Community
College Aeronautics Maintenance Technology Program and Alaska Airlines’ Ascend Pilot
Academy among others, to support future jobs and career opportunities in Hawai‘i and beyond.
• Investment in local communities: Continue to invest in Hawai‘i communities, combining and
expanding the two airlines’ commitments, and work with local communities and government to
build a vibrant future for Hawai‘i.
• Perpetuation of culture: Committed to promoting regenerative tourism in the Hawaiian Islands
and investing in Hawaiian language and culture, continuing and building upon Hawaiian Airlines’
existing programs.
Becoming an Even More Sustainable Combined Airline
Alaska Airlines is committed to building upon both Alaska Airlines’ and Hawaiian Airlines’ strong
commitments to environmental stewardship, including Alaska Airlines’ five-part path to net zero by 2040
and sustainability goals in areas of carbon emissions and fuel efficiency, waste, and healthy ecosystems.
In 2022, Alaska Airlines made its largest Boeing fleet order in its 90-year history, focused on the Boeing
737-MAX aircraft, which are 25% more fuel-efficient on a seat-by-seat basis than the aircraft they
replace, and continued to expand use of route optimization software to help dispatchers develop routes
that save fuel, time, and emissions. Both airlines are actively working to advance the market for
sustainable aviation fuel (SAF) in their respective geographies. These climate-focused efforts will
continue, including continued investment in local sourcing.
Compelling Strategic and Financial Rationale, Generating Outsized Value Creation
The combination fits strategically with Alaska Airlines’ sustained focus on expanding options for West
Coast travelers and creates an important new platform to further enhance Alaska Airlines’ above
industry-average organic growth. The transaction is designed to deliver attractive value creation for
Alaska Airlines’ shareholders while providing a compelling premium for Hawaiian Airlines shareholders.
• All-cash transaction of $18.00 per share for a total equity value of $1.0 billion provides a
compelling premium for Hawaiian Airlines shareholders.
• Transaction multiple of 0.7 times revenue, approximately one third the average of recent airline
transactions.
• Approximately $235 million of expected run-rate synergies reflect a conservative estimate of the
transaction’s synergy potential; these exclude other identified upside opportunities that could be
realized.
• Expected to generate high single digit earnings accretion for Alaska Airlines within the first two
years (high-teens three+ years) post-close and mid-teens ROIC by year three, excluding
integration costs, with returns above Alaska Airlines’ cost of capital.
• No anticipated material impact on long-term balance sheet metrics, with return to target
leverage levels expected within 24 months.
Conditions to Close
The transaction agreement has been approved by both boards. The acquisition is conditioned on
required regulatory approvals, approval by Hawaiian Holdings, Inc. shareholders (which is expected to be
sought in the first quarter of 2024), and other customary closing conditions. It is expected to close in 12-
18 months. The combined organization will be based in Seattle under the leadership of Alaska Airlines
CEO Ben Minicucci. A dedicated leadership team will be established to focus on integration planning.
Advisors
BofA Securities and PJT Partners are serving as financial advisors and O’Melveny & Myers LLP is serving
as legal advisor to Alaska Airlines. Barclays is serving as financial advisor and Wilson Sonsini Goodrich &
Rosati, Professional Corporation is serving as legal advisor to Hawaiian Airlines.
Microsite and Multimedia Assets
Additional information about the transaction is available at a new joint website at
localcareglobalreach.com and investor materials can also be found at investor.alaskaair.com and
news.alaskaair.com.
INVESTOR CONFERENCE CALL AND PRESS CONFERENCE
Alaska Airlines and Hawaiian Airlines executives will discuss the transaction on a conference call. An
investor presentation about the transaction will be referenced on the conference call and is being posted
on the joint website referenced above.
Alaska Airlines and Hawaiian Airlines will be joined by local leaders at a joint press conference in
Honolulu today, December 3, 2023, at 3:00 p.m. Hawai‘i Standard time.
About Alaska Airlines
Alaska Airlines and our regional partners serve more than 120 destinations across the United States,
Belize, Canada, Costa Rica and Mexico with new service to the Bahamas and Guatemala beginning in
December. We strive to be the most caring airline with award-winning customer service and an industryleading loyalty program. As a member of the oneworld Alliance, and with our additional global partners,
our guests can travel to more than 1,200 destinations on 29 airlines while earning and redeeming miles
on flights to locations around the world. Learn more about Alaska at news.alaskaair.com and follow
@alaskaairnews for news and stories. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air
Group.
About Hawaiian Airlines
Now in its 95th year of continuous service, Hawaiian is Hawaiʻi’s biggest and longest-serving airline.
Hawaiian offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between
Hawaiʻi and 15 U.S. gateway cities – more than any other airline – as well as service connecting Honolulu
and American Samoa, Australia, Cook Islands, Japan, New Zealand, South Korea and Tahiti.
Consumer surveys by Condé Nast Traveler and TripAdvisor have placed Hawaiian among the top of all
domestic airlines serving Hawaiʻi. The carrier was named Hawaiʻi’s best employer by Forbes in 2022 and
has topped Travel + Leisure’s World’s Best list as the No. 1 U.S. airline for the past two years. Hawaiian
has also led all U.S. carriers in on-time performance for 18 consecutive years (2004-2021) as reported by
the U.S. Department of Transportation.
The airline is committed to connecting people with aloha. As Hawai’i’s hometown airline, Hawaiian
encourages guests to Travel Pono and experience the islands safely and respectfully.
Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA). Additional information is
available at HawaiianAirlines.com. Follow Hawaiian’s Twitter updates (@HawaiianAir), become a fan on
Facebook (Hawaiian Airlines), and follow us on Instagram (hawaiianairlines). For career postings and
updates, follow Hawaiian’s LinkedIn page.
Forward-Looking Statements
This communication contains forward-looking statements subject to the safe harbor protection provided
by the federal securities laws, including statements relating to the expected timing of the closing of the
pending acquisition (the “Transaction”) of Hawaiian Holdings Inc. (“Hawaiian Holdings”) by Alaska Air
Group, Inc. (“Alaska Air Group”); considerations taken into account by Alaska Air Group’s and Hawaiian
Holdings’ Boards of Directors in approving the Transaction; and expectations for Alaska Air Group and
Hawaiian Holdings following the closing of the Transaction. There can be no assurance that the
Transaction will in fact be consummated. Risks and uncertainties that could cause actual results to differ
materially from those indicated in the forward-looking statements include: the possibility that Hawaiian
Holdings shareholders may not approve the adoption of the merger agreement; the risk that a condition
to closing of the Transaction may not be satisfied (or waived); the ability of each party to consummate
the Transaction; that either party may terminate the merger agreement or that the closing of the
Transaction might be delayed or not occur at all; possible disruption related to the Transaction to Alaska
Air Group’s or Hawaiian Holding’s current plans or operations, including through the loss of customers
and employees; the diversion of management time and attention from ongoing business operations and
opportunities; the response of competitors to the Transaction; a failure to (or delay in) receiving the
required regulatory clearances for the Transaction; uncertainties regarding Alaska Air Group’s ability to
successfully integrate the operations of Hawaiian Holdings and Alaska Air Group and the time and cost to
do so; the outcome of any legal proceedings that could be instituted against Hawaiian Holdings, Alaska
Air Group or others relating to the Transaction; Alaska Air Group’s ability to realize anticipated cost
savings, synergies or growth from the Transaction in the timeframe expected or at all; legislative,
regulatory and economic developments affecting the business of Alaska Air Group and Hawaiian
Holdings; general economic conditions including those associated with pandemic recovery; the
possibility and severity of catastrophic events, including but not limited to, pandemics, natural disasters,
acts of terrorism or outbreak of war or hostilities; and other risks and uncertainties detailed in periodic
reports that Alaska Air Group and Hawaiian Holdings file with the Securities and Exchange Commission
(“SEC”). All forward-looking statements in this communication are based on information available to
Alaska Air Group and Hawaiian Holdings as of the date of this communication. Alaska Air Group and
Hawaiian Holdings each expressly disclaim any obligation to publicly update or revise the forwardlooking statements, except as required by law.
Additional Information and Where to Find It
Hawaiian Holdings, its directors and certain executive officers are participants in the solicitation of
proxies from stockholders in connection with the Transaction. Hawaiian Holdings plans to file a proxy
statement (the “Transaction Proxy Statement”) with the SEC in connection with the solicitation of
proxies to approve the Transaction.
Daniel W. Akins, Wendy A. Beck, Earl E. Fry, Lawrence S. Hershfield, C. Jayne Hrdlicka, Peter R. Ingram,
Michael E. McNamara, Crystal K. Rose, Mark D. Schneider, Craig E. Vosburg, Duane E. Woerth and
Richard N. Zwern, all of whom are members of Hawaiian Holdings’ board of directors, and Shannon L.
Okinaka, Hawaiian Holdings’ chief financial officer, are participants in Hawaiian Holdings’ solicitation.
None of such participants owns in excess of one percent of Hawaiian Holdings’ common stock.
Additional information regarding such participants, including their direct or indirect interests, by security
holdings or otherwise, will be included in the Transaction Proxy Statement and other relevant
documents to be filed with the SEC in connection with the Transaction. Please refer to the information
relating to the foregoing (other than for Messrs. Akins and Woerth) under the caption “Security
Ownership of Certain Beneficial Owners and Management” in Hawaiian Holdings’ definitive proxy
statement for its 2023 annual meeting of stockholders (the “2023 Proxy Statement”), which was filed
with the SEC on April 5, 2023 and is available at
https://www.sec.gov/ix?doc=/Archives/edgar/data/1172222/000117222223000022/ha20230405.htm#i2d8a68908cc64c37bbeca80e509abb72_31. Since the filing of the 2023 Proxy Statement,
(a) each director (other than Mr. Ingram) received a grant of 13,990 restricted stock units that will vest
upon the earlier of (i) the day prior to Hawaiian Holdings’ 2024 annual meeting of stockholders or (ii) a
change in control of Hawaiian Holdings; (b) Mr. Ingram received a grant of 163,755 restricted stock units;
and (c) Ms. Okinaka received a grant of 57,314 restricted stock units. In the Transaction, equity awards
held by Mr. Ingram and Ms. Okinaka will be treated in accordance with their respective severance and
change in control agreements. As of December 1, 2023, Mr. Ingram beneficially owns 340,964 shares and
Ms. Okinaka beneficially owns 86,903 shares. The 2023 proxy statement, under the caption “Executive
Compensation—Potential Payments Upon Termination or Change in Control,” contains certain illustrative
information on the payments that may be owed to Mr. Ingram and Ms. Okinaka in a change of control of
Hawaiian Holdings. As of December 1, 2023, (a) Mr. Woerth beneficially owns 37,389 shares and (b)Mr.
Akins beneficially owns no shares. Mr. Akins received a grant of 13,990 restricted stock units that will
vest upon the earlier of (a) the day prior to Hawaiian Holdings’ 2024 annual meeting of stockholders or
(b) a change of control.
Promptly after filing the definitive Transaction Proxy Statement with the SEC, Hawaiian Holdings will mail
the definitive Transaction Proxy Statement and a WHITE proxy card to each stockholder entitled to vote
at the special meeting to consider the Transaction. STOCKHOLDERS ARE URGED TO READ THE
TRANSACTION PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND
ANY OTHER RELEVANT DOCUMENTS THAT HAWAIIAN HOLDINGS WILL FILE WITH THE SEC WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may
obtain, free of charge, the preliminary and definitive versions of the Transaction Proxy Statement, any
amendments or supplements thereto, and any other relevant documents filed by Hawaiian Holdings
with the SEC in connection with the Transaction at the SEC’s website (http://www.sec.gov). Copies of
Hawaiian Holdings’ definitive Transaction Proxy Statement, any amendments or supplements thereto,
and any other relevant documents filed by Hawaiian Holdings with the SEC in connection with the
Transaction will also be available, free of charge, at Hawaiian Holdings’ investor relations website
(https://newsroom.hawaiianairlines.com/investor-relations), or by writing to Hawaiian Holdings Inc.,
Attention: Investor Relations, P.O. Box 30008, Honolulu, HI 96820.
Media Contacts
newsroom@alaskaair.com
206-304-0008
News@hawaiianair.com
808-391-5728
アラスカ航空とハワイアン航空が統合することになりますよ！！！