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The Department of Justice will not challenge Alaska's proposed deal to acquire Hawaiian, a key milestone in the merger effort. The airlines still need other regulatory approvals before closing.
Shares of Hawaiian Airlines parent Hawaiian Holdings (HA) dropped in intraday trading Monday on concerns the Department of Justice (DOJ) may move to block Alaska Air Group's (ALK) $1.9 billion purchase of the carrier.
Hawaiian Electric raised the prospect of bankruptcy in its quarterly report. The company recently reached an expensive settlement agreement over the August 2023 wildfires.
Shares of Hawaiian Holdings (HA) surged 6% in intraday trading Wednesday after the Hawaiian Airlines parent agreed to extend the U.S. Department of Justice's review period of its proposed acquisition by Alaska Air Group (ALK).
A U.S. judge has dismissed a lawsuit that sought to block Alaska Airlines' plan to buy Hawaiian Airlines for $1.9 billion, a deal the consumer plaintiffs said would cut routes and raise prices.
The rise in operating expenses does not bode well for Hawaiian Holdings (HA). Elevated labor and fuel costs hurt the company's bottom line.
Shares of Hawaiian Electric Industries (HE), or HEI, sank Monday after the utility operator warned it may not be able to continue operations because of the potential inability to pay the money required from the legal settlement reached related to the massive 2023 wildfire in Maui, blamed in part on its Hawaiian Electric unit.
U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Monday.
Hawaiian Electric raised a going concern risk in its earnings report because it doesn't yet have a financing plan in place for the $1.99 billion settlement with Maui wildfire victims.
Hawaiian's largest utility said on Friday it had agreed to pay roughly half of a more than $4 billion legal settlement that will compensate victims of last year's deadly Maui wildfires.