Hawaiian Airlines Shares Fly High On Amazon Relationship

Hawaiian Holdings Inc (NASDAQ: HA) has agreed with Amazon.com Inc (NASDAQ: AMZN) to operate and maintain an initial fleet of 10 Airbus SE (OTC: 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 Read: Amazon 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.
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