Following in the footsteps of United, Delta and Spirit, Hawaiian Airlines is leveraging its own loyalty and brand assets to raise $800 million in order to repay its CARES Act loan. Speaking on the airline’s fourth quarter earnings call, CFO Shannon Okinaka commented that the new financing will “generate significantly higher borrowing capacity than the CARES Act loans with a lower total cost of capital, better payment terms, and more flexible terms overall”, adding that the deal will put the airline in a better position as it begins the process of repairing its balance sheet. The unregistered offering of $800
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