Hawaiian Airlines launches $262 million EETC issue

Hawaiian Airlines has launched a two-tranched $262 million Enhanced Equipment Trust Certificates (EETC) offering, secured by eight Airbus aircraft. The offering comprises: $216.976 million class A notes, which have a 7.1 year tenor and weighted average life (WAL) of 4.5 years and are rated A by Fitch; and $45.010 million B notes, with a tenor of 5.1 years and a WAL of 3.0 years, rated BB+ by Fitch. The notes are secured on a collateral pool of six A321-200neo aircraft delivered to Hawaiian between May 2018 and August 2019, and two Airbus A330-200 aircraft delivered in April and June of 2013.