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Alaska Airlines Flight Attendants Stage Picket at Seattle-Tacoma International Airport
Flight attendants with Alaska Airlines (NYSE: ALK) are holding an informational picket at Seattle-Tacoma International Airport to protest the airline’s contract negotiations. The Association of Flight Attendants-CWA union has stated that the initial proposals from parent company Alaska Air Group were not economically viable. Additionally, the union is gathering information on the proposed merger between Alaska Air and Hawaiian Holdings, and reviewing details around the potential merger. AFA leaders from both airlines are expected to meet with the union’s international officers and experts to conduct a review. It has been reported that the potential merger has angered ALK’s flight attendants, who believe that the company can afford to provide the new labor deal that is being sought.
In December, Alaska Air announced its agreement to acquire Hawaiian Airlines for $18 per share in a deal that values the carrier at approximately $1.9 billion including debt. The companies believe that the combination of complementary domestic, international, and cargo networks would enhance competition and expand choices for consumers on the U.S. west coast and the Hawaiian Islands. Additionally, Alaska Air stated that $235 million of expected run-rate synergies reflect a conservative estimate of the deal’s synergy potential.
In trading, shares of Alaska Air Group gained 2.22% to $40.15, while Hawaiian Holdings slipped 0.15% to $13.73. The union is continuing to negotiate with the airline company as the situation develops.
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