Hawaiian Airlines airplanes sit idle on the runway at the Daniel K. Inouye International Airport due to the business downturn caused by the coronavirus disease (COVID-19) in Honolulu, Hawaii, U.S. April 28, 2020. REUTERS/Marco Garcia/File Photo Acquire Licensing RightsDec 4 (Reuters) - Shares of Hawaiian Holdings (HA.O), the parent of Hawaiian Airlines, nearly tripled on Monday after Alaska Air Group (ALK.N) agreed to acquire it for $1.9 billion, including debt. Hawaiian Holdings hasn't reported an adjusted profit in three yearsAlaska and Hawaiian said on Sunday the deal, valued at $929.4 million on an equity basis, will expand their networks and offer more choices to passengers. The deal will enable Alaska to grow in the lucrative Asia Pacific market, while Hawaiian customers can travel non-stop to the U.S. mainland, Becker added. Shares of Seattle-based Alaska Air were down 17.6%.

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Persons: Daniel K, Marco Garcia, TD Cowen, Helane Becker, Becker, Craig Jenks, Biden, Ananta Agarwal, Shivansh, Krishna Chandra Eluri Organizations: Airlines, Inouye, REUTERS, Hawaiian Holdings, Hawaiian Airlines, Alaska Air Group, Airbus, Alaska Air, Holdings, Sunday, Asia, Airline, Aircraft, U.S . Justice, JetBlue, Spirit Airlines, Thomson Locations: Honolulu , Hawaii, U.S, Maui, Alaska, Asia Pacific, New York, premarket, Seattle, Bengaluru