DALLAS - Hawaiian Airlines' (HA) parent company announced today an agreement with Amazon.com and its subsidiaries to operate and maintain a fleet of 10 Airbus A330-300P2F freighters beginning in the fall of 2023.

Amazon Air signed a firm agreement to lease freighters from Altavair, taking advantage of the A330’s capacity and economics for its one-day delivery promise to Amazon Prime customers.

While both the A330-200 and A330-300 aircraft can be converted, the longer-fuselage A330-300P2F is more suitable for integrators and express carriers due to its high volumetric payload capability with lower-density cargo. ST Aerospace, Airbus, and their joint venture EFW collaborated on the A330P2F conversion program, which began in 2012.

Under Hawaiian's FAA air carrier certificate, Amazon's A330s will be maintained and flown between airports near the online retailer's operations sites. The first ten aircraft will enter service in 2023 and 2024. The agreement also includes the possibility of expanding the fleet based on Amazon's future business demands.

Hawaiian plans to establish a pilot base in the continental United States, expand existing maintenance bases, and increase the hiring of pilots, mechanics, dispatchers, supply chain professionals, and others to support this new cargo operation in preparation for service with Amazon.

As part of the commercial agreement, the HA granted Amazon warrants to purchase up to 15% (post-issuance) of its common stock. The warrants are valid for the next nine years.

According to marketwatch.com, shares of Hawaiian Holdings Inc. rallied 4.1% in premarket trading Friday after Amazon issued warrants to buy the HA shares.

Comments from Hawaiian Airlines, Amazon, Altavair Officials

“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.

Ingram added, “This relationship provides a catalyst to grow our business and the unique opportunity to diversify our revenue sources while capitalizing on our established strengths.”

“We’re thrilled to welcome Airbus to our Amazon Air fleet,” said Philippe Karam, Director, Amazon Global Air Fleet & Sourcing. “These A330-300s will not only be the first of their kind in our fleet, [but] they’ll also be the newest, largest aircraft for Amazon Air, allowing us to deliver more customer packages with each flight.”

“We’re thrilled to work with Hawaiian Airlines,” said Sarah Rhoads, Vice President, Amazon Global Air. “They will maintain and operate the next generation of aircraft in our fleet, which is a reflection of the excellence they deliver as a renowned airline with their own A330 aircraft.”

“We are thrilled to have presented this opportunity to Amazon Air and look forward to growing this relationship further,” said Steve Rimmer, CEO of Altavair, adding, "We are very appreciative that Amazon Air placed its confidence with the Altavair team to make this transaction a reality.”

Hawaiian, which received the nation's first cargo certificate in 1942 and became the first commercial airline to transport scheduled U.S. air cargo, now carries freight aboard passenger aircraft across its network of routes within Hawai'i and between the islands and North America, Asia, and Oceania.

Featured image: Hawaiian Airlines N370HA Airbus A330-200. Photo: Mateo Skinner/Airways