UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 4)
Under the Securities Exchange Act of 1934
HAWAIIAN AIRLINES, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
419849-104
(CUSIP Number)
Thomas X. Fritsch, Esq.
885 Third Avenue
34th Floor
New York, New York 10022
Tel. No.: (212) 888-5500
With a copy to:
Judith R. Thoyer, Esq.
Paul, Weiss, Rifkind, Wharton & Garrison
1285 Avenue of the Americas
New York, New York, 10019-6064
Tel. No.: (212) 373-3000
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
May 2, 2002
(Date of Event which Requires Filing of
this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[X].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
This document consists of 8 pages
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Cusip No. 419849-104 Page 2 of 8
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Airline Investors Partnership, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
18,181,818
NUMBER OF ------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING
PERSON ------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
18,181,818
------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,462,643
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
53.2%
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14 TYPE OF REPORTING PERSON
PN
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Cusip No. 419849-104 Page 3 of 8
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AIP General Partner, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
18,181,818
NUMBER OF ------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING
PERSON ------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
18,181,818
------------------------------------------------
10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,462,643
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
53.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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Cusip No. 419849-104 Page 4 of
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John Adams
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
18,462,643
NUMBER OF ------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING --
PERSON ------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
18,462,643
------------------------------------------------
10 SHARED DISPOSITIVE POWER
--
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,462,643
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
53.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
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Cusip No. 419849-104 Page 5 of 8
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AMENDMENT NO. 4 TO SCHEDULE 13D
This is Amendment No. 4 (this "AMENDMENT") to the Schedule 13D filed by
the Reporting Parties with respect to the Common Stock (the "COMMON STOCK") of
Hawaiian Airlines, Inc. (the "COMPANY"), dated as of January 18, 1996, as
amended by Amendment No. 1, dated as of January 31, 1996, as amended by
Amendment No. 2, dated as of December 19, 2001, as amended by Amendment No. 3,
dated as of April 18, 2002 (the "ORIGINAL SCHEDULE 13D").
ITEM 4 PURPOSE OF THE TRANSACTION.
Item 4 is amended as follows:
On May 2, 2002, the Company entered into an Agreement and Plan of
Merger, dated as of May 2, 2002 (the "HAWAIIAN MERGER AGREEMENT"), by and among
the Company, Hawaiian Holdings, Inc. ("HOLDINGS") and HA Sub Inc. ("HA SUB"), in
order to effect a reorganization of the Company into a holding company structure
whereby the Company will become a subsidiary of Holdings and the shareholders of
the Company will become shareholders of Holdings (the "REORGANIZATION").
Pursuant to the Hawaiian Merger Agreement, INTER ALIA, on the terms and subject
to the conditions set forth therein, (i) HA Sub will merge with and into the
Company, with the Company as the surviving corporation (the "HAWAIIAN MERGER"),
(ii) each share of Common Stock, together with the rights to purchase the
preferred stock of the Company attached thereto (other than such shares held by
a wholly owned subsidiary of Holdings pursuant to the AIP Merger Agreement (as
defined below)), will be converted into one share of Holdings common stock, and
(iii) each share of Holdings common stock held by the Company (being the 100
shares issued upon the formation of Holdings) will be canceled.
After the completion of the Reorganization, each shareholder of
Holdings common stock will hold the same relative percentage of shares of
Holdings as such shareholder held of Common Stock immediately prior to the
Reorganization. In addition, Holdings will become a public company subject to
the reporting requirements of the Exchange Act of 1934 and will apply for its
shares of common stock to be listed on the American Stock Exchange and the
Pacific Exchange, and the Company will no longer be a public company subject to
the reporting requirements of the Exchange Act of 1934 and will cause its Common
Stock and preferred stock purchase rights to be delisted from the American Stock
Exchange and the Pacific Exchange.
In connection with the Hawaiian Merger Agreement, AIP General Partner,
Inc. ("AIP GP"), the general partner of Airline Investors Partnership, L.P.
("AIP"), and AIP, Inc. ("AIP INC."), the sole limited partner of AIP, entered
into an Agreement and Plan of Merger, dated as of May 2, 2002 (the "AIP MERGER
Agreement"), with Holdings and AIP Merger Sub, Inc., a wholly owned subsidiary
of Holdings ("AIP MERGER SUB"), pursuant to which, INTER ALIA, on the terms and
subject to the conditions set forth therein, (i) the stockholders of each of AIP
GP and AIP Inc. will form a Delaware limited liability company ("AIP LLC") and
contribute all of the outstanding shares of capital stock of AIP GP and AIP
Inc., respectively, to AIP LLC in exchange for interests therein, (ii) AIP will
transfer its shares of Series B Special Preferred Stock, par value $.01 per
share, of the Company to John W. Adams, (iii) AIP GP will merge with and into
AIP Inc., with AIP Inc. as the surviving corporation (the "FIRST AIP MERGER"),
(iv) AIP Merger Sub will merge with and into AIP Inc., with AIP Inc. as the
surviving corporation (the "SECOND AIP MERGER" and together with the First AIP
Merger, the "AIP MERGERS"), and (v) AIP LLC will
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Cusip No. 419849-104 Page 6 of 8
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have its shares of AIP Inc. common stock converted into Holdings common stock in
an amount equal to the number of shares of Common Stock held by AIP immediately
prior to the AIP Mergers.
The foregoing discussion of the AIP Merger Agreement and the Hawaiian
Merger Agreement is qualified in its entirety by reference to each such
agreement filed as EXHIBIT 1 and EXHIBIT 2, respectively, to this Amendment and
incorporated by reference herein.
ITEM 6. CONTRACTS, ARANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended as follows:
AIP has informed the Company that it intends to vote the shares of
Common Stock and the special preferred stock of the Company beneficially owned
by it in favor of the proposal to approve the Hawaiian Merger Agreement at the
2002 annual meeting of shareholders of the Company. In order for the Hawaiian
Merger Agreement to be approved by the shareholders of the Company, the
affirmative vote of holders of 75% of all issued and outstanding shares of
Common Stock and special preferred stock of the Company, voting together as a
single voting group, and the affirmative vote of holders of a majority of the
shares of the Company's special preferred stock represented at the meeting,
voting separately, is required. As of the date hereof, AIP beneficially owns
approximately 52.76% of the issued and outstanding shares of Common Stock and
four of the seven shares of Company's special preferred stock. The voting of all
of AIP's shares in favor of the Hawaiian Merger Agreement will assure the
necessary vote for the approval of the separate voting group comprised of the
holders of the Company's special preferred stock. The voting of all of AIP's
shares of Common Stock in favor of the Hawaiian Merger Agreement, however, is
insufficient to ensure that that the 75% voting requirement required under
Hawaii law will be satisfied.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT DESCRIPTION
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1 Agreement and Plan of Merger, dated as of May 2, 2002, among
AIP General Partner, Inc., AIP Inc., AIP Merger Sub, Inc. and
Hawaiian Holdings, Inc.
2 Agreement and Plan of Merger, dated as of May 2, 2002, among
Hawaiian Airlines, Inc., HA Sub Inc. and Hawaiian Holdings,
Inc.
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Cusip No. 419849-104 Page 7 of 8
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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1 Agreement and Plan of Merger, dated as of May 2, 2002, among
AIP General Partner, Inc., AIP Inc., AIP Merger Sub, Inc. and
Hawaiian Holdings, Inc.
2 Agreement and Plan of Merger, dated as of May 2, 2002, among
Hawaiian Airlines, Inc., HA Sub Inc. and Hawaiian Holdings,
Inc.
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Cusip No. 419849-104 Page 8 of 8
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
May 7, 2002
AIRLINE INVESTORS PARTNERSHIP, L.P.
By: AIP General Partner, Inc.,
its general partner
By: /S/ JOHN W. ADAMS
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John W. Adams
President
AIP GENERAL PARTNER, INC.
By: /S/ JOHN W. ADAMS
--------------------------------
John W. Adams
President
/S/ JOHN W. ADAMS
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John W. Adams