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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) September 22, 1996
HAWAIIAN AIRLINES, INC.
(Exact name of registrant as specified in its charter)
HAWAII 1-8836 99-0042880
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
3375 Koapaka Street, Suite G350
Honolulu, HI 96819-1869
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (808) 835-3700
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ITEM 5. OTHER EVENTS.
A copy of Hawaiian Airlines, Inc.'s (the "Company") press release
dated September 22, 1996, announcing the successful completion of a
shareholder rights offering and an investor offering which
collectively raised more than $39.0 million in capital for the
Company, is filed as an exhibit to this Current Report on Form 8-K.
Both offerings were fully subscribed resulting in the purchase of 12.1
million new shares of Common Stock at the subscription price of $3.25
per share.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
Exhibit 99.1 Press Release dated September 22, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HAWAIIAN AIRLINES, INC.
Dated: September 25, 1996 By /S/ JOHN L. GARIBALDI
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John L. Garibaldi
Executive Vice President-Finance
and Chief Financial Officer
(Principal Financial and
Accounting Officer)
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EXHIBIT 99.1
Dated: September 22, 1996
HAWAIIAN AIRLINES OFFERINGS FULLY SUBSCRIBED,
RAISE $39 MILLION IN NEW CAPITAL
HONOLULU -- Hawaiian Airlines, Inc. (ASE and PSE: HA) today announced the
successful completion of a shareholder rights offering and an investor offering.
Both offerings were fully subscribed, collectively raising more than $39 million
in new capital for the Honolulu-based airline.
In August, the company registered a total of 12.1 million new shares of common
stock for sale in the rights and investor offerings. All 12.1 million shares
were purchased at the subscription price of $3.25 per share, generating the
offerings' maximum possible gross proceeds of $39.3 million.
Bruce R. Nobles, Hawaiian's president and chief executive officer, said the
overwhelming response to the company's offerings indicates marketplace
recognition of the company's successful three-year turn-around and its strong
prospects.
"This infusion of substantial new capital was the last element needed to
complete the rebirth of Hawaiian Airlines as a strong, competitive airline.
Today, Hawaiian Airlines begins a new era in its 67-year history with a solid
balance sheet and the capacity to capitalize on its growth opportunities," Noble
said.
Hawaii Governor Ben Cayetano embraced the announcement as positive news for the
state's tourism-driven economy.
"Since its introduction of Hawaii's first air service in 1929, Hawaiian Airlines
has played an important role in the development of our tourism-based economy.
As the second largest carrier to and from Hawaii's primary visitor markets on
the mainland, Hawaiian is becoming even more important to the state. We are
proud of the company's remarkable turn-around and congratulate Hawaiian and its
employees," Gov. Cayetano said.
Including new shares sold in the rights and investor offerings, there are now a
total of 38.5 million shares of Hawaiian Airlines, Inc. common stock
outstanding.
Hawaiian Airlines, the nation's 12th largest airline, provides scheduled and
charter air transportation of passengers, cargo and mail among the islands of
Hawaii and between Hawaii and five West Coast gateway cities and two
destinations in the South Pacific.
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