Alaska Air Group Chief Executive Officer Ben Minicucci was all smiles as he made the media rounds Monday with his new partner, the CEO of Hawaiian Holdings — the two in coordinated aloha shirts.
Alaska said Sunday it would buy Hawaiian for $1.9 billion. The deal, code named project Triggerfish for Hawaii’s state fish, was the culmination of six months of negotiations between the two men as Minicucci looks to grow Alaska Air. While the market hasn’t warmed to an acquisition that faces tough antitrust scrutiny — Alaska’s stock dropped 14% in Monday trading — Minicucci isn’t afraid of a fight.
An Alaska Air spokesperson confirmed the project code name, but declined to comment further. The representative didn’t make Minicucci available for an interview. A representative for Hawaiian didn’t respond to a request for comment.