Monday, April 4, 2016

Alaska Air Acquires Virgin America

Seattle-based Alaska Air Group said this morning that it is acquiring Virgin America, in a deal worth approximately $4.0 billion. Alaska Air said it is paying $57.00 per share in cash for Virgin America, which has recently been focusing its efforts on expansion in California. Alaska Air said the headquarters of the company will remain in Seattle. Alaska Air said Virgin America's primary airports are in San Francisco and Los Angeles. Virgin America is very popular with the technology set out of Silicon Valley, due to its high tech aspects of its service. For its part, Alaska Airlines said the move will expand Virgin America's service in the thriving technology markets in Silicon Valley and Seattle.