Hawaiian Holdings extends antitrust review; shares rise

Hawaiian Airlines parent agrees to extend the review period regarding its merger with Alaska Air Group

Shares of Hawaiian Holdings rose Wednesday after the company said it agreed with the antitrust regulator to extend the review period regarding its proposed merger with Alaska Air Group.

The US Department of Justice (DOJ) has agreed to extend the review period for the proposed merger between Hawaiian Holdings and Alaska Air Group. The new deadline for the review is now February 14, 2023.

The DOJ is reviewing the proposed merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The act requires companies to notify the DOJ and the Federal Trade Commission (FTC) of certain mergers and acquisitions in order to give the agencies time to review the transactions for potential antitrust concerns.

The DOJ has not said whether it has any antitrust concerns about the proposed merger. However, the extension of the review period suggests that the agency is taking a closer look at the deal.

Shares of Hawaiian Holdings rose 6% in intraday trading on Wednesday following the announcement of the extension. The stock closed at $22.01, up $1.26 from Tuesday's close.

• The DOJ has agreed to extend the review period for the proposed merger between Hawaiian Holdings and Alaska Air Group.
• The new deadline for the review is now February 14, 2023.
• The DOJ is reviewing the proposed merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
• The DOJ has not said whether it has any antitrust concerns about the proposed merger.
• Shares of Hawaiian Holdings rose 6% in intraday trading on Wednesday following the announcement of the extension.