5 Airline Stocks Billionaires Are Piling Into

In this article, we will take a look at the 5 airline stocks billionaires are piling into. To read our analysis of the recent technology trends, and market activity, you can go to the 10 Airline Stocks Billionaires Are Piling Into.

5. Hawaiian Holdings, Inc. (NASDAQ:HA)

Number of Billionaire Holders: 8

Honolulu, Hawaii-based Hawaiian Holdings, Inc. (NASDAQ:HA) is Hawaii’s biggest and longest-serving airline offering nearly 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaii and 15 U.S. gateway cities, as well as flights connecting Honolulu and American Samoa , Australia , Cook Islands , Japan , New Zealand , South Korea, and Tahiti.

On December 3, Alaska Air Group, Inc. (NYSE:ALK) and Hawaiian Holdings, Inc. (NASDAQ:HA) announced an agreement under which Alaska Air Group, Inc. (NYSE:ALK) will acquire all outstanding shares of Hawaiian Holdings, Inc. (NASDAQ:HA) for a cash consideration of $18.00 per share which implies a transaction value of nearly $1.9 billion, including debt.

The transaction price implies a potential upside of 29.96% based on Hawaiian Holdings, Inc. (NASDAQ:HA) share price as of December 7. The companies expect the transaction to “unlock more destinations for consumers and expand choice of critical air service options and access throughout the Pacific region, Continental United States and globally.”

Following the announcement, Deutsche Bank analyst Michael Linenberg upgraded the rating for Hawaiian Holdings, Inc. (NASDAQ:HA) shares to ‘Buy’ from ‘Hold’ and raised the price target to $16 from $4.