Alaska Airlines completes Hawaiian Airlines acquisition

• For example, JetBlue was blocked from buying Spirit Airlines for $3.7 billion, and also from a strategic partnership with American Airlines.
• Alaska's deal for Hawaiian, however, received sign-off from both the Justice and Transportation Departments.

Details: Alaska, the fifth-largest U.S. carrier, paid $18 per share, representing a whopping 270% premium over the closing price for Hawaiian shares before the deal was announced last December.

• Alaska also assumed $900 million in Hawaiian Airlines debt, which is included in the $1.9 billion purchase price.

The bottom line: This was viewed as something of a lifeline for Hawaiian, whose shares tumbled due to new competition from Southwest Airlines and residual effects of the pandemic.