Alaska Air Selling Bonds, Loan to Refinance Hawaiian Debt
Alaska Air Group Inc. is selling around $1.25 billion of US high-grade bonds as well as a loan secured by its frequent flyer program, to refinance debt tied to its acquisition...
Hawaiian Holdings, Inc. (Holdings), is a holding company whose primary asset is the sole ownership of all issued and outstanding shares of common stock of Hawaiian Airlines, Inc. (Hawaiian). Hawaiian is engaged in the scheduled air transportation of passengers and cargo amongst the Hawaiian Islands (the interisland routes), between the Hawaiian Islands and certain cities in the United States (the North America routes), and between the Hawaiian Islands and the South Pacific, Australia and Asia (the the International routes). In addition, Hawaiian also operates various charter flights. At December 31, 2011, Hawaiian's fleet consisted of sixteen Boeing 717-200 aircraft for its Neighbor Island routes and sixteen Boeing 767-300 aircraft and five Airbus A330-200 aircraft for its North America, International and charter routes. At December 31, 2011, it operated approximately 187 scheduled flights per day.
Alaska Air Group Inc. is selling around $1.25 billion of US high-grade bonds as well as a loan secured by its frequent flyer program, to refinance debt tied to its acquisition...
Moody’s Ratings cut Alaska Air Group Inc.’s credit grade to junk status after the company said it plans to issue secured debt to refinance borrowings from its acquisition...
US Transportation Secretary Pete Buttigieg discusses details of the US Department of Transportation’s approval of the $1.9 billion merger of Alaska Air and Hawaiian Holdings...
Hawaiian Holdings top line is bolstered by improved air travel demand. Fleet upgrade efforts are commendable. However, high operating costs are a concern.