This document is identical to the Form 4 filed 2/5/96
except for a correction required in the number of shares of
Class A Common Stock due to a typographical error.
FORM 4 OMB APPROVAL
OMB NUMBER:3235-0287
EXPIRES:APRIL 30, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 0.5
[ ]Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligations may
continue. See Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
- -----------------------------------------------------------------------------
1. Name and Address of Reporting Person
Airline Investors Partnership, L.P.
(Last) (First) (Middle)
885 Third Avenue, 34th Floor
New York New York 10022
- -----------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
Hawaiian Airlines, Inc. / HA
- -----------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
- -----------------------------------------------------------------------------
4. Statement of Month/Year 1/96
01/96
- -----------------------------------------------------------------------------
5. If Amendment, Date or Original (Month/Year)
- -----------------------------------------------------------------------------
6. Relationship of Reporting Person to Issuer
(Check all applicable)
Director X 10% Owner
---------- ----------
Officer (give title below) Other
---------- ---------- (specify
below)
- -----------------------------------------------------------------------------
Table I - Non-Derivative Securties Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
2.Transaction 3.Transaction 4.Securities 5.Amount of 6.Ownership 7.Nature of
1. Title of security Date Code Acquired (A) Securities Form: Indirect
(Inst.3) (Month/Day/Year) (Instr. 8) or Disposed Beneficially Direct (D) Beneficial
of (D)(Instr. Owned at End or Ownership
3,4,and 5) of Month Indirect (Instr.4)
(Instr.3 and 4) (I)
(Instr.4)
Code V Amount (A) Price
or
(D)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A Common Stock* 01/31/96 P 18,181,818 A $1.10 18,181,818 D
Class B Common Stock N/A N/A N/A N/A N/A N/A N/A
Series B Special 01/31/96 P 4 A $1.10 4 D
Preferred Stock
Series C,D and E N/A N/A N/A N/A N/A N/A N/A
Special Preferred
Stock
</TABLE>
- -----------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly. (Print or Type Response)
<PAGE>
FORM 4 (CONTINUED)TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF
OR BENEFICIALLY OWNED (E.G., PUTS, CALLS,
WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
<TABLE>
<CAPTION>
1. Title of 2. Conversion or 3. Transaction 4.Transaction 5. Number of 6.Date 7.Title and
Derivate Exercise Price Date Code Derivative Exercisable Amount of
Security of Derivative (Month/ Securities and Expiration Underlying
(Instr.3) Security Day/Year) Acquired (A) Date Securities
or Disposed (Instr.3 and
(D) (Instr.3, (Month/Day/Year) 4)
4 and 5)
Code V (A) (D) Date Expiration Title
Exercisable Date
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
8.Price of 9.Number of 10.Ownership 11.Nature
Derivative Derivative Form of of
Security Securities Derivative Indirect
(Instr. 5) Beneficially Security: Beneficial
Owned at End Direct (D) Ownership
of Month or (Instr.4)
(Instr.4) Indirect (I)
(Instr.4)
Explanation of Responses:
* The 18,181,818 shares of Class A Common Stock acquired on January 31, 1996
include 2,727,272 shares of Class A Common Stock (the beneficial ownership
of which was disclosed in the Form 3, dated January 29, 1996, filed by the
Reporting Person with the Securities and Exchange Commission) issued upon
the conversion of a senior secured convertible promissory note.
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient,
SEE Instruction 6 for procedure.
/S/ John W. Adams, President of AIP General
Partner, Inc., general partner of Airline
Investors Partnership, L.P. February 5, 1996
- ----------------------------------------------- ------------------
**Signature of Reporting Person Date
