Alaska Air buys Virgin America for $2.6 billion, creating 5th largest airline in U.S.
SEATTLE -- There's going to be a little less competition among airlines following a big takeover announced Monday. Alaska Air Group has agreed to buy Virgin America for $2.6 billion, the airlines said. Alaska Air said it will pay $57 per share, sending Virgin America stock soaring 40%. Including debt and aircraft leases, the transaction is worth about $4 billion.