Alaska Airlines settles merger lawsuit
Monday, 08 Dec, 2016
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As expected, Alaska Airlines has agreed to settle a consumer lawsuit which aimed to block the planned merger of Alaska and Virgin America.
Alaska received final approval for the merger from the Department of Justice this week and the lawsuit was the final obstacle in its way.
The civil antitrust lawsuit was filed by a group of 42 consumers and travel agents alleging the $2.6 billion merger would lessen competition and drive up prices as the two airlines fly on many of the same routes.
"We have agreed to settle the lawsuit filed by private plaintiffs in U.S. District Court in San Francisco. Terms of the settlement are not being disclosed. We look forward to closing the transaction in the very near future," an Alaska Air Group stamen said.
A trial date had been set for December 12.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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