Hawaiian Signs With Airbus, Rolls-Royce as Part of Long-Range Fleet Plan

Hawaiian Airlines today announced agreements with Airbus and engine maker Rolls-Royce to acquire up to 24 new long-range wide-body aircraft as the first step in a phased fleet plan that will replace its current wide-body fleet of 18 aircraft, expand its long-range fleet, and enable it to open new routes to more distant markets on a nonstop basis from Hawaii.

Hawaiian has signed Memoranda of Understanding with Airbus and Rolls-Royce to acquire six wide-body A330-200 aircraft and six A350XWB (Extra Wide Body)-800 aircraft, with purchase rights for an additional six A330-200s and six A350XWB-800s. The agreements have a total list-price value of approximately $4.4 billion if all of the purchase rights are exercised.

In addition, Mark Dunkerley, Hawaiian's president and CEO, said the agreements with Airbus and Rolls-Royce pave the way for the company to lease additional A330 aircraft for introduction into its fleet as early as 2009, providing for growth and replacement of aircraft with leases expiring during this timeframe.

Dunkerley commented, "These agreements with Airbus and Rolls-Royce are important steps in a long-range fleet plan that provides not only for fleet renewal, but also for growth in our business. We are building flexibility into the plan with some aircraft purchased, some to be leased and having options for others, which will allow us to scale the fleet according to our needs and opportunities over the next two decades.

"The Rolls-Royce powered A350XWB represents the next generation of super efficient aircraft, and the A330 is a state-of-the-art aircraft that is slightly larger, more fuel efficient and can fly farther than our current fleet. We'll be able to open new markets with both aircraft and contribute even more to the economy of our home state. Our business, our employees and Hawaii will benefit."

Dunkerley added that the fleet transactions represent the largest single investment in Hawaiian's 78-year history and a clear statement of the company's deep commitment to its home market. "We are investing in the future of both Hawaiian and Hawaii by bringing in additional aircraft. These are not just additional seats to Hawaii, they are seats that are dedicated to Hawaii year in and year out that will further diversify and extend the reach of the state's tourism interests and provide more local jobs."

John Leahy, Airbus' Chief Operating Officer-Customers, said, "Hawaiian has earned a reputation as the leading carrier to Hawaii for quality and value. This modern and efficient Airbus fleet will set a new standard for extraordinary travel comfort to Hawaii for years to come."

Jim Guyette, President and Chief Executive Officer, Rolls-Royce North America, said, "We're looking forward to expanding our relationship with Hawaiian Airlines, and to playing a central role in these exciting and ambitious plans. The Trent engines they have selected will deliver the world-beating levels of operational efficiency and environmental performance which are at the heart of Hawaiian's vision."

The first A350XWB-800 will join Hawaiian's fleet in 2017. The wide-body jet will seat 322 passengers in a two-class configuration (First and Coach) and have a range of 69,000 nautical miles, which will give Hawaiian the capability to fly nonstop between Hawaii and Asia, Australasia, the Americas and Europe. The A350 carries 24 percent more passengers and is 20 percent more fuel efficient per seat mile than Hawaiian's current fleet.

Airbus will deliver the first new A330-200 to Hawaiian in 2012. The wide- body twin-engine, twin-aisle A330-200 will seat 305 passengers in a two-class configuration. With an operating range of 5,500 nautical miles, the A330 can fly significantly farther than Hawaiian's current fleet and will provide the ability to serve all of North America and points in eastern Asia nonstop from Hawaii. In addition, the A330 carries 45 more passengers and is more fuel efficient than Hawaiian's current fleet.

Terms of the agreement were not disclosed. Hawaiian anticipates that it will sign definitive purchase agreements in early 2008, following the completion of documentation with Airbus and Rolls-Royce.

About Hawaiian Airlines

The nation's top-ranked airline for service in the 2007 Airline Quality Ratings, Hawaiian also led all U.S. carriers in on-time performance for 2004, 2005 and 2006 (including a record 36 consecutive months from November 2003 to October 2006,) and in fewest misplaced bags for 2005 and 2006, as reported by the U.S. Department of Transportation. Consumer surveys by Conde Nast Traveler, Travel + Leisure, and Zagat have all ranked Hawaiian as the top domestic airline serving Hawaii.

Now in its 79th year of continuous service in Hawaii, Hawaiian is the state's biggest and longest-serving airline, as well as the second largest provider of passenger air service between the U.S. mainland and Hawaii. Hawaiian offers nonstop service to Hawaii from more U.S. gateway cities than any other airline (nine), as well as service to Australia, American Samoa and Tahiti. Hawaiian also provides approximately 100 daily jet flights among the Hawaiian Islands.

Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (Amex: HA). Additional information is available at http://HawaiianAirlines.com.

About Airbus

Airbus is a leading aircraft manufacturer with the most modern and comprehensive aircraft product line on the market. Each new Airbus order means new business for American companies. In 2006 alone, Airbus spent $10.2 billion with suppliers in more than 40 U.S. states supporting more than 190,000 American jobs. Airbus is an EADS company.

This press release contains certain forward-looking statements, which are based upon current expectations and estimates and involve material risks and uncertainties, including, without limitation, the ability to continue operating profitably. Readers are cautioned that any such forward-looking statement is not a guarantee of future performance and that actual results may differ materially from those projected in the forward-looking statements. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.