Alaska Airlines to buy Hawaiian Airlines for $1.9bn

SEATTLE - Alaska Airlines announced that it would buy Hawaiian Airlines for $1.9-billion, consolidating its position as the nation's fifth biggest carrier if it can attain regulatory approval.

Both brands will continue to exist under the terms of the agreement, which could take up to 18 months to finalize, according to a joint press release.

The combined airlines would have a fleet of 365 narrow and widebody aircraft, and reach 138 destinations.

Based in Seattle, Alaska Airlines mainly serves the western United States. The Hawaiian capital of Honolulu would become its second main hub.

Residents of Hawaii would benefit from expanded service to the continental United States, the two companies said, and the merger would create "new connections to Asia and throughout the Pacific for travelers across the US."

The two airlines both provide service to areas "uniquely reliant upon air travel" -- the Pacific archipelago and the frontier state of Alaska.

Federal regulatory approval of the purchase is not assured.

US airlines have faced cutthroat competition in recent years, seeking to consolidate against financial pressure even as they endure federal antitrust scrutiny.