Virgin American | KNKX

Virgin American

The parent company of Alaska Airlines has struck a deal to buy Virgin America, creating a West Coast-focused airline. If approved by regulators and Virgin America's shareholders, the combined airline will be the fifth-largest U.S. carrier, according to Alaska Air Group.

"By bringing them together, we're creating the premier airline for people who live anywhere on the West Coast," Alaska Air Group CEO Brad Tilden said in a statement.