On and off over the years , Alaska Air Group Inc , and Aloha Airlines have discussed combining forces . They operate the same type of aircraft . Their route systems are contiguous , but yet there is no overlap . Senior managers have even thought of a logo " Aviation Pioneers in the 49 th and 50 th States . " The CEOS of both companies have conferred . Both agree that the deal should continue to go forward Alaska's CEO would be CEO of the new venture . The Aloha CEO would serve as Chief Operating Officer ( " COO " ) of the new venture , Informally the CEOs have both consulted with a majority of their respective directors , all of whom approve of the idea What form should the " deal " take ? What " deal structure " would you recommend A statutory merger . Alaska should buy , Aloha shares in the open market . Alaska should make an offer directly to Aloha shareholders to purchase their shares for cash cash tender offer ) Alaska should make an offer directly to Aloha shareholders to exchange their shares for Alaska shares ( stock tender offer or perhaps , mandatory share exchange )