Alaska Air will pay $18 a share in cash for Hawaiian Airlines under the deal. Photo: Bayne Stanley/Zuma PressAlaska Air reached a roughly $1 billion deal to buy Hawaiian Airlines , a combination of rivals that largely serve destinations in the Pacific region that are reliant on air travel. Alaska Air will pay $18 a share in cash under a deal the two companies unveiled Sunday.

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Persons: Bayne Stanley Organizations: Alaska Air, Hawaiian Airlines, Zuma Press Alaska Air Locations: Alaska, Pacific