Amazon and Hawaiian Airlines Announce Freighter Agreement

Amazon and Hawaiian Airlines Announce Freighter Agreement

Amazon (NASDAQ: AMZN) has partnered up with Hawaiian Airlines’ (HA) to fly the first Airbus cargo planes in the retailer’s air network. The aircraft are in place to replace older models as the carrier becomes the biggest passenger airline to work with the company.

Hawaiian is set to fly a minimum of 10 Airbus A330-300 converted freighters for Amazon, with the very first to commence in the fall of 2023, according to the airline. The carrier’s shares rose 13% during early morning trading following the announcement.

“We are excited to help serve Amazon customers by providing additional air cargo capacity and logistics support. This recognizes our experience in providing safe and reliable operations, our incredible front-line team, and our shared focus on the customer,” said Peter Ingram, president and CEO at Hawaiian Airlines.

Amid the commercial agreement, HA granted Amazon warrants to acquire up to 15% of its common stock, post-issuance. The warrants will be valid for the upcoming nine years. Additionally, Hawaiian Airlines plans to secure a pilot base in the continental United States, expand current maintenance bases, and increase the onboarding of pilots, mechanics, dispatchers, supply chain professionals, and other support roles in preparation for its work with Amazon.

“We are excited to help serve Amazon customers by providing additional air cargo capacity and logistics support. This recognizes our experience in providing safe and reliable operations, our incredible front-line team, and our shared focus on the customer,” said Peter Ingram, president and CEO at Hawaiian Airlines.

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!