2^nd September 2024 – Hawaiian Airlines took delivery of its latest Boeing 787-9 Dreamliner in March and PK Air Finance  provided the senior debt for the aircraft, while Novus’ Cedar Aviation Finance extended a junior mezzanine loan.

The financing supports Hawaiian Airlines’ strategy to expand its long-haul fleet and enhance its service offerings on key routes. The Boeing 787-9 Dreamliner, known for its fuel efficiency and passenger comfort, is set to bolster the airline’s capacity and operational efficiency.

“PK Air Finance and Novus’s Cedar Aviation Finance have been great partners as we prepare for an exciting growth phase with a 787-9 product that combines superior guest comfort with our unparalled Hawaiian hospitality,” said Shannon Okinaka, Executive Vice President and Chief Financial Officer at Hawaiian Airlines.

“We are pleased to serve as a capital partner to Hawaiian Airlines and to have worked with Novus Aviation Capital on this 787-9 financing,” said Eelco van de Stadt, President of PK Airfinance. “This transaction is another example of PK’s ability to provide bespoke capital solutions to a wide range of market participants across the global aviation industry, creating accretive transactions for our counterparties. We look forward to continuing our relationship with Hawaiian to provide greater financial flexibility and support their long-term objectives.”

“We are delighted to welcome Hawaiian Airlines amongst our partner airlines and are pleased to have worked with PK Air Finance on this important transaction,” said Mamoun Kuzbari, Chief Commercial Officer at Novus Aviation Capital. “The addition of this 787 underscores the capabilities of Cedar Aviation Finance to deliver tailored financial solutions that meet the specific needs of our airline customers. We look forward to continuing our collaboration with PK Air Finance to support the growth of Hawaiian Airlines.”

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