Hawaiian Holdings announced Friday that its stockholders voted in favor of the merger agreement with Alaska Air Group.
“A substantial majority of the holders of Hawaiian’s stock voted in favor of the merger,” according to a news release from Hawaiian Airlines.
An independent inspector will tally the final votes and Hawaiian will submit them on a Form 8-K to the U.S. Securities and Exchange Commission.
“Stockholder approval of our transaction with Alaska is an important milestone toward combining our airlines,” said Hawaiian Airlines CEO Peter Ingram in a statement. “Together, we will bring stronger competition to the U.S. airline industry, deliver more value to our guests and the communities that we serve, and provide greater job opportunities for our employees.”
In December, the two airlines announced an agreement in which Alaska will gain Hawaiian for $18 per share in cash for a total value of $1.9 billion. At the time, the boards of both companies had approved the deal, but it still needed approval from the shareholders of Hawaiian Holdings.
Next, the airlines will seek approval for the deal from U.S. regulators, which have resisted more airline consolidation out of concern it could lead to higher fares. Last month, a federal judge agreed with the Biden administration and blocked the $3.8 billion JetBlue-Spirit Airlines merger.
Hawaiian and Alaska estimate the time to complete their merger will be within 18 months of the initial announcement, which would be June 2025.
Michelle Broder Van Dyke covers the Hawaiian Islands for Spectrum News Hawaii. Email her at michelle.brodervandyke@charter.com.