12:44 PM EDT, 08/20/2024 (MT Newswires) -- Alaska Air ( ALK ) and Hawaiian Airlines parent Hawaiian Holdings ( HA ) said that the time period for the US Department of Justice to complete its review of the airlines' proposed merger ended without any apparent objections.

Alaska Air ( ALK ), which owns Alaska Airlines, in December agreed to acquire Hawaiian Airlines for roughly $1.9 billion. At the time, the companies said the transaction required approval from regulators, and was expected to complete within the next 12 months to 18 months.

The air carriers last week agreed with the DOJ to further extend the review period for the merger until 12:01 am ET on Tuesday from a previous deadline of 12:01 am on Friday, the companies said in separate filings with the Securities and Exchange Commission. The DOJ didn't respond to MT Newswires' request for comment.

Shares of Alaska Air ( ALK ) were down 0.2% in midday trading on Tuesday, while Hawaiian climbed 12%.

"This is a significant milestone in the process to join our airlines," Alaska Airlines said in a Monday statement published on its website. "During the DOJ's review, Alaska worked closely with the Hawai'i Attorney General to reinforce and expand upon our commitments for the future of Hawaiian Airlines and to Hawai'i consumers."

The airlines have reportedly filed an application to operate under one certificate. The Department of Transportation said it will grant approval if it's in the best interest of the public, CNBC reported. Hawaiian and Alaska have been cooperating with the DOT and expect to continue to do so, the companies said in the SEC filings.

Last month, Hawaiian reported its second-quarter adjusted loss grew to $1.37 per share from $0.47 the year before, while total operating revenue improved 3.5% to $731.9 million. Alaska Air's ( ALK ) adjusted EPS declined to $2.55 for the June quarter from $3 the year before, while operating revenue increased 2% to almost $2.9 billion.

"I am confident that by the joining of these two airlines, a stronger company will emerge and offer more travel options for Hawai'i residents and local businesses -- and will enhance competition across the US airline industry," Hawaii Governor Josh Green said in a statement on Monday.

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