HONOLULU -- Hawaiian Airlines and Boeing Capital Corporation (BCC) have agreed to a tenth extension of their interim agreement on aircraft leases.
Under the agreement, Hawaiian will continue to use the B717 and B767 aircraft owned by BCC at reduced rental rates, and BCC agrees to defer any exercise of its rights under the bankruptcy code.
Hawaiian has already secured permanent reduced aircraft lease rates on almost half of its fleet with its other lessors, and has been seeking comparable permanent reductions from BCC to implement a successful plan of reorganization for the airline.
The new expiration date is June 30, 2004, subject to court approval. Currently, the agreement expires on May 31. A court hearing to consider the extension has been scheduled for this Friday.
Hawaiian presently leases 11 Boeing 717-200 aircraft for interisland flights and three Boeing 767-300ER aircraft for transpacific flights from BCC.
Hawaiian previously renegotiated and received court approval to assume lease agreements with Ansett Worldwide Aviation Services, which owns seven Boeing 767-300ER aircraft, and with International Lease Finance Corp., which owns four Boeing 767-300ER aircraft.
About Hawaiian Airlines
Hawaiian Airlines, the nation's number one on-time carrier, is recognized as one of the best airlines in America. Business travelers recently surveyed byCondé Nast Traveler rated Hawaiian Airlines as having the best in-flight service and meals of any U.S. carrier. Hawaiian was recently ranked fourth best in the nation overall by Travel + Leisure.
Celebrating its 75th year of continuous service, Hawaiian Airlines is Hawaii's largest and longest-serving airline, and the second largest provider of passenger air service between Hawaii and the mainland U.S. Hawaiian offers nonstop service to Hawaii from more mainland U.S. gateways
than any other airline. Hawaiian also provides approximately 100 daily jet flights among the Hawaiian Islands, as well as service to Sydney, American Samoa and Tahiti.
Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (AMEX and PCX: HA). Since the appointment of a bankruptcy trustee on May 16, 2003, Hawaiian Holdings has had no involvement in the management of Hawaiian Airlines and has had limited access to information concerning the airline.
Additional information on Hawaiian Airlines is available at www.HawaiianAir.com.