Alaska Air Group, Inc.NYSE
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  • Mon, Apr. 4, 6:42 AM
    • Alaska Air (NYSE:ALK) has agreed to pay $2.6B for Virgin America (NASDAQ:VA), beating rival JetBlue's (NASDAQ:JBLU) bid (and leapfrogging the carrier) to become the fifth-largest U.S. airline by traffic.
    • Alaska's offer of $57 per share in cash represents a premium of about 47% to Virgin's Friday's close, and will allow it to heavily expand its presence on the U.S. West Coast.
    • Virgin America is 54% owned by Richard Branson's Virgin Group and New York-based Cyrus Capital Partners.
    • VA +36.3% premarket
    | Mon, Apr. 4, 6:42 AM | 26 Comments
  • Sun, Apr. 3, 3:29 AM
    • The fleet implications of the rumored Alaska Air (NYSE:ALK) buyout of Virgin America (NASDAQ:VA) are "enormous," WSJ reporter John Ostrower writes.
    • Boeing (NYSE:BA) prides itself on its partners, including ALK, which flies only Boeings on its mainline subsidiary. With Virgin - an all-Airbus (OTCPK:EADSF) customer - Alaska Air could suddenly become an operator of Boeing, Airbus, Embraer (NYSE:ERJ) & Bombardier (OTCQX:BDRBF) aircraft. Or it might look to shed its non-Boeing jets and consolidate.
    • Alaska already has 30 aircraft on order from Embraer for its regional operations. Virgin, meanwhile, operates 60 Airbus jets, with another 40 on order.
    • Now read Boeing And Airbus: The Order Battle »
    | Sun, Apr. 3, 3:29 AM | 8 Comments
  • Sat, Apr. 2, 3:01 PM
    • Sources say Alaska Air (NYSE:ALK) has emerged as the likely winner of an auction for Virgin America (NASDAQ:VA), which is 54% owned by Richard Branson’s Virgin Group Ltd. and New York-based Cyrus Capital Partners LP.
    • Alaska Air is expected to pay more than $2B for Virgin America. VA's current market cap is $1.47B, having surged due to recent news that the company was in play.
    • A win by Alaska would be JetBlue's (NASDAQ:JBLU) loss; reports have JetBlue courting Virgin as well.
    • Now read The 3rd Possibility For Virgin America That No One Is Talking About »
    | Sat, Apr. 2, 3:01 PM | 38 Comments
  • Mon, Mar. 28, 3:08 PM
    • Virgin America (NASDAQ:VA) received buyout offers from JetBlue (JBLU +3%) and Alaska Air Group (ALK +1.2%), sources tip Bloomberg.
    • The company is still talking to both of the bidders.
    • A deal announcement could come as soon as next week.
    • VA is up 9.47% to $37.40 off the latest devlopment. Some airline sector watchers think it would take an offer in the $40s to win Virgin.
    • Previously: Virgin America flies higher amid buyout talk (March 28)
    | Mon, Mar. 28, 3:08 PM | 6 Comments