HA - Hawaiian enters commercial deal to operate freighter aircraft for Amazon

• Hawaiian Holdings ( NASDAQ: HA ) shares popped 3% Friday morning after the airline entered into a deal with Amazon ( NASDAQ: AMZN ) to operate and maintain an initial fleet of ten Airbus A330-300 freighter aircraft, starting in the fall of 2023.
• The airline will maintain and fly Amazon's ( AMZN ) A330s to help move cargo between airports near the online retailer's operations facilities. The agreement also contemplates the ability to expand the fleet depending on Amazon's future business needs.
• The initial 10 aircraft will enter into service in 2023 and 2024.
• In addition, Hawaiian ( HA ) issued Amazon ( AMZN ) warrants to acquire up to 15% of its common shares pursuant to the commercial deal. The warrants are exercisable over the next nine years.
• In preparation for the service, Hawaiian ( HA ) plans to set up a pilot base on the continental U.S., expand existing maintenance bases and boost hiring of pilots, mechanics, dispatchers, supply chain employees and others who will help support this new cargo operation.

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