BREAKING NEWS

Alaska wins antitrust approval for Virgin deal with condition

By REUTERS

DECEMBER 6, 2016 22:14

Alaska Air Group Inc has won US antitrust approval for its $2.6 billion acquisition of Virgin America Inc on condition that it scale back its code-sharing with American Airlines Group Inc, the Justice Department said on Tuesday.

Under the settlement, Alaska and American would be banned from code-sharing on routes where Virgin and American now compete, among others, the department said.

Alaska said in a statement that it was pleased with the approval and plans to close the purchase "in the very near future." Alaska, which paid a premium of about 86 percent for Virgin, pursued the deal to better compete against Delta Air Lines Inc and American, the company has said.

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