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Alaska Air to buy Virgin America in 2.3 billion euro deal

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Alaska Air to buy Virgin America in 2.3 billion euro deal
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Alaska Air Group says it has agreed to buy Virgin America for almost 2.3 billion euros.

It wants to expand its presence on the US West Coast.

Alaska’s offer of just over 50 euros per share in cash represents a premium of about 47 percent to Virgin’s Friday close.

Virgin America is the ninth-largest US airline when it comes to passenger traffic.

The acquisition would herald the first American commercial airline merger since US Airways and American Airlines joined up in 2013 – to form the world’s largest carrier.