HA - Why Hawaiian Holdings Stock Is Flying High Today
The parent of Hawaiian Airlines is joining forces with Amazon (NASDAQ: AMZN) Prime Air cargo operations, and investors are excited about the opportunity. Shares of Hawaiian Holdings (NASDAQ: HA) traded up as much as 14% on Friday after the agreement was announced.
Over the past few years, Amazon has been slowly building a formidable cargo air operation by partnering with, and often investing in, airline operators who are willing to fly planes under its branding. Hawaiian joined the team on Friday, announcing a deal to operate and maintain an initial fleet of 10 Airbus A330 freighters beginning in the fall of 2023.
There is language in the agreement that could lead to closer ties between the two companies, including the ability to expand the fleet in the future based on Amazon's needs. Hawaiian is also issuing Amazon warrants to acquire up to 15% of its common shares.
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Why Hawaiian Holdings Stock Is Flying High Today