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Author Topic: Hawaii City Hopper is bought out by HB Investments INC.  (Read 826 times)

Offline humbleadnan94

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Hawaii City Hopper is bought out by HB Investments INC.
« on: February 15, 2020, 05:12:59 AM »
The struggling little U.S. airline just got a Buyer!! HB Investments INC. is buying Hawaii City Hopper in a deal worth about $13 million, the companies announced Thursday. HB Investments INC. said it will pay $12 in cash per share for the 2-year-old airline, a 47 percent premium on Hawaii City Hopper closing price Wednesday, causing the share price to spike about 40 percent before the opening bell.

Hunmble Adnani's HB Investments INC. owns a majority stake in the airline, and the American billionaire was very happy with the sale. “I would be lying if I didn’t admit hapiness over the terms of our deal,” he said during the press conference.

Hawaii City Hopper, which has been ranked as Americans’ favorite regional airline for its customer service and reasonable prices, put itself up for sale last month after being a public company for just a year and a half. The company has experienced growth in some markets, like Hawaii, but it’s struggled to obtain slots at California airports. It also had trouble competing with bigger airlines for business travelers. U.S. Blue Airways had reportedly also bid on Hawaii City Hopper, but lost out. Consolidation has narrowed down the domestic airline business in recent years, and Adnani himself has been a critic of these acquisitions—including the merger between U.S. Blue Airways and Calimerican Airlines in 1961.

With the acquisition also comes the name change as Hawaii City Hooper as an Airline won't do well if it wanted to expanded in mainland US. After a 12 hour closed door meeting and lots of broken chairs and injured executives, HB Investments INC. decided to name the Airline Express Air.

Once all the injured executives were hauled off to the hospital. The CEO Mr. Adnani straightened his suit and announced the name to the media as well as the re branding strategy and when it will go into affect.

All the planes will be hauled of to paint with the new livery one by one and the marketing strategy of this airline will be revamped to work towards providing a low cost low fare model to regional routes and eventually expand to the national market.


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