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Hawaiian Holdings (NASDAQ:HA) rose 6%, gaining for a second day, as investors await to see if regulators will approve or try to block its planned combination with Alaska Air (NYSE:ALK).
Some traders told Seeking Alpha that Hawaiian Holdings (HA) rose Tuesday after an options trade.
The parent of Hawaiian Airlines also advanced 3% on Tuesday, at least partly after a report that labor unions seem to be quiet ahead of an expected Dept. of Justice decision on the $3.8 billion acquisition of HA. There appears to be little opposition from labor groups to the transaction, according to a CTFN report on Monday.
In May, Hawaiian Holdings (HA) and Alaska Air (ALK) disclosed that they certified substantial compliance with the DOJ’s second request. The certification triggered a 90-day period for the DOJ to decide on the deal, which is set to expire Aug. 5.
The airlines disclosed in late March that they entered into a timing agreement with the DOJ after they received a DOJ second request in February about the transaction.
Some investors have been concerned about that combination after a judge in January blocked JetBlue’s (JBLU) planned $3.8 billion acquisition of Spirit Airlines (SAVE).