News
Malaysia confirms debris found in Tanzania is from MH370
![Malaysia confirms debris found in Tanzania is from MH370](https://jetlinemarvel.net/wp-content/uploads/2016/09/ceaffe06-7b37-11e6-aba3-c12eb464ff87_1280x720.jpg)
News summery :
- Malaysia said debris discovered on coast of Tanzania was from MH370
- Malaysia Airlines jet MH370 disappeared in 2014, with 239 people on board
- A search of more than 2 years has turned up few traces of the Boeing 777
According to Reuters Malaysia said on Thursday that a large piece of aircraft debris discovered on the island of Pemba, off the coast of Tanzania, in June, was from the missing Malaysia Airlines jet MH370.
A search of more than two years has turned up few traces of the Boeing 777 aircraft that disappeared in March 2014, with 239 passengers and crew on board, soon after taking off from Kuala Lumpur, the Malaysian capital, bound for Beijing.
The debris, an outboard flap, will be examined further to see if it can yield any insight into the circumstances around the missing plane, Malaysian Transport Minister Liow Tiong Lai said in a statement.
Investigators have previously confirmed a piece of plane debris found on the French island of Reunion in July 2015 as being part of MH370. They are examining several other pieces of debris found in Mozambique, South Africa and Rodrigues Island, a territory of Mauritius.
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Airlines
Alaska Airlines Acquisition of Hawaiian Airlines Reshapes the Air Travel Landscape
![Alaska Airlines' Acquisition of Hawaiian Airlines Reshapes the Air Travel Landscape](https://jetlinemarvel.net/wp-content/uploads/2023/12/ASTF-Air-to-Air-Lock-Ups_FINAL-With-Lock-Up.jpg)
Alaska Air Group, Inc. (NYSE: ALK) and Hawaiian Holdings, Inc. (NASDAQ: HA) jointly announced today the execution of a definitive agreement, signifying Alaska Airlines’ acquisition of Hawaiian Airlines at a cash price of $18.00 per share. The total transaction value stands at approximately $1.9 billion, encompassing Hawaiian Airlines’ net debt of $0.9 billion.
The combination of complementary domestic, international, and cargo networks
This strategic union is poised to open up an array of additional destinations, providing consumers with increased choices in crucial air service options across the Pacific region, Continental United States, and globally.
The transaction is anticipated to establish a robust platform for growth and competition in the U.S., offering enduring employment opportunities, ongoing community investments, and a commitment to environmental stewardship.
Key Points:
- Acquisition Overview:
- Fleet Expansion and Network Reach:
- Creates the fifth-largest U.S. airline with a fleet of 365 narrow and wide-body airplanes.
- Enables access to 138 destinations through combined networks and over 1,200 destinations via the oneworld Alliance.
- Hub Development and Connectivity:
- Honolulu to become a key hub for the combined airline, offering expanded services to the Continental U.S., Asia, and the Pacific.
- Tripling the number of destinations from Hawai‘i to North America, while maintaining robust Neighbor Island service.
- Commitment to Hawai‘i:
- Strong commitment to Hawai‘i, ensuring robust Neighbor Island air service.
- Aiming for a more competitive platform supporting growth, job opportunities, community investment, and environmental stewardship.
- Employee and Union Commitment:
- Commitment to maintaining and growing the union-represented workforce in Hawai‘i.
- Immediate value creation with at least $235 million of expected run-rate synergies.
- Investor Call and Timeline:
- Investor conference call scheduled for today at 5:00 p.m. ET / 2:00 p.m. PT / 12:00 p.m. HT.
- Anticipated closing of the transaction within 12-18 months.
- Strategic and Financial Rationale:
- Complementary networks to enhance competition and provide greater choice for consumers.
- Preservation of both Alaska and Hawaiian Airlines’ brands on a single operating platform.
- Expected to deliver high single-digit earnings accretion for Alaska Airlines within the first two years.
- Community and Sustainability Commitment:
- Focus on growth in union-represented jobs and strong operational presence in Hawai‘i.
- Commitment to environmental stewardship, aligning with Alaska Airlines’ five-part path to net zero by 2040.
- Synergies and Accretion:
- Expected run-rate synergies of at least $235 million.
- Transaction multiple of 0.7 times revenue, approximately one third the average of recent airline transactions.
- Conditions to Close:
- Approval by regulatory authorities and Hawaiian Holdings, Inc. shareholders.
- Expected to close in 12-18 months, with the combined organization based in Seattle under the leadership of Alaska Airlines CEO Ben Minicucci.
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