Amazon.com Inc. is poised to take a stake in the parent of Hawaiian Airlines as part of a deal to expand the e-commerce giant’s cargo-hauling operations.
Hawaiian Holdings Inc. issued warrants allowing Amazon to acquire as much as 15% of the carrier’s outstanding shares, according to a statement Friday. The warrants are exercisable over the next nine years.
Hawaiian’s shares climbed 4.3% as of 9:17 a.m. before regular trading in New York, while Amazon was little changed. The airline company’s market value was about $724 million as of Thursday’s close.
