AMZN - Can Amazon Cargo Deal Get Hawaiian Airlines Back on Track?
The past three years weren't kind to Hawaiian Holdings (NASDAQ: HA) . Plummeting demand followed by increased competition, soaring fuel prices, and disruptive international travel restrictions have caused the Hawaiian Airlines parent to lose money quarter after quarter.
Hawaiian Airlines hopes to change that narrative soon, though. And last week, it announced an intriguing deal to diversify its business by operating 10 freighters for Amazon.com (NASDAQ: AMZN) starting in late 2023.
Amazon and Hawaiian Airlines have signed an eight-year deal for Hawaiian to operate and maintain 10 Airbus A330-300 converted freighters for the e-commerce giant's Amazon Air unit. The agreement includes options to extend and/or expand the relationship. Amazon will own the planes, but they will be registered under Hawaiian's FAA operating certificate.
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Can Amazon Cargo Deal Get Hawaiian Airlines Back on Track?