Posted on: Friday, August 30, 2002

Hawaiian Air in new holding

Advertiser Staff

Hawaiian Airlines said yesterday that it is now under a new holding company, which officials have said will give the carrier more flexibility.

Hawaiian Holdings Inc. was incorporated in Delaware, which has flexible corporate laws.

Hawaiian Airlines is now operating as a Hawai'i corporation that is a wholly owned subsidiary of Hawaiian Holdings. Airline shareholders automatically become shareholders of the new company. The shares were converted into shares of Hawaiian Holdings on a generally tax-free, one-to-one basis.

Hawaiian Holdings will continue to trade on the American Stock Exchange and the Pacific Exchange under the symbol HA.