Hawaiian Airlines Shares Fly High On Amazon Relationship

Loading...
Loading...
  • 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
Market News and Data brought to you by Benzinga APIs
Posted In: NewsContractsSmall CapMoversTrading IdeasGeneralBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...