Hawaiian Airlines Shares Fly High On Amazon Relationship

  • Hawaiian Holdings Inc HA has agreed with Amazon.com Inc AMZN to operate and maintain an initial fleet of 10 Airbus SE EADSY A330-300 freighters starting in the fall of 2023.
  • Hawaiian will maintain and fly Amazon's A330s under its FAA air carrier certificate to move cargo between airports near Amazon's operations facilities.
  • The initial 10 aircraft will enter into service in 2023 and 2024.
  • The agreement also has the option to expand the fleet depending on Amazon's future business needs.
  • Hawaiian intends to establish a pilot base on the continental U.S., grow existing maintenance bases, and expand the hiring of pilots, mechanics, dispatchers, and supply chain employees.
  • In connection with the commercial agreement, the Hawaiian issued Amazon warrants to acquire up to 15% of its common shares. The warrants are exercisable over the next 9 years.
  • "This relationship provides a catalyst to grow our business and the unique opportunity to diversify our revenue sources while capitalizing on our established strengths," said CEO Peter Ingram.
  • Also ReadAmazon Faces £900M UK Antitrust Class Action For Algorithm Abuse
  • Price Action: HA shares are trading higher by 13.42% at $15.98 on the last check Friday.
  • Photo Via Company
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