HONOLULU, HAWAI — The e-commerce giant Amazon is preparing to obtain a stake in the parent company of Hawaiian to expand its cargo network via the airline's Airbus aircraft.

According to a statement released on Oct. 21, Hawaiian Holdings Inc. issued warrants enabling Amazon to purchase up to 15% of the carrier's outstanding shares.

The warrants are exercisable over the next nine years.

Amazon agreed with Hawaiian Holdings Inc. to operate and maintain an initial fleet of ten Airbus A330-300 freighters starting in the fall of 2023. Hawaiian will maintain and fly Amazon's A330s under Hawaiian's FAA air carrier certificate to move cargo between airports near the online retailer's operations facilities. The initial ten aircraft will enter into service in 2023 and 2024. The agreement also contemplates the ability to expand the fleet depending on Amazon's future business needs.

"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.

"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 work with Hawaiian Airlines," said Sarah Rhoads, Vice President of 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."

In preparation for service for Amazon, Hawaiian intends to establish a pilot base on the continental U.S., grow existing maintenance bases, and expand the hiring of pilots, mechanics, dispatchers, supply chain employees, and others who will help support this new cargo operation.

In connection with the commercial agreement, the Company issued Amazon warrants to acquire up to 15 percent (post-issuance) of its common shares.

Hawaiian was the first commercial airline to transport scheduled U.S. air cargo, with the nation's first cargo certificate in 1942. Today İT carries freight on passenger aircraft across its network of flights within Hawai'i and between the islands and North America, Asia, and Oceania.