Hawaiian Airlines Announces New Financing Facility

Hawaiian Airlines today announced that the company has completed a successful renegotiation of lending agreements that addresses upcoming term loan maturities, provides for an expanded revolving line of credit, and puts the airline in a strong position for future growth. In connection with entering into the amended lending agreements, Hawaiian has repaid term loans that would have matured in 2011, strengthening the company's balance sheet as it continues to pursue new expansion opportunities. In addition, Hawaiian has secured an expanded revolving line of credit that allows for the borrowing of up to $75 million over a four-year period, against a borrowing base of the company's account receivables, ground equipment, spare engines, and certain aircraft. Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. HA.