Filed by Hawaiian Airlines, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933 and deemed
filed pursuant to Rule 14a-12 of the
Securities Exchange Act of 1934
Subject Company: Hawaiian Airlines, Inc.
Commission File No. 001-08836
TurnWorks Acquisition III, Inc. and Hawaiian Airlines, Inc. have filed
a preliminary joint proxy statement/prospectus and other relevant documents with
the SEC relating to the proposed transaction. INVESTORS AND SECURITYHOLDERS ARE
URGED TO READ THE PRELIMINARY JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ON THE PROPOSED TRANSACTION. Investors and security holders will be
able to obtain the document free of charge at the SEC's website (WWW.SEC.GOV),
or at the SEC's public reference room located at 450 Fifth Street, NW,
Washington, DC 20549. Please call the SEC at 1-800-SEC-0330 for further
information about the public reference room. In addition, documents filed with
the SEC by Hawaiian Airlines, Inc. may be obtained free of charge by contacting
Hawaiian Airlines, Inc., Attn: Investor Relations (tel: 808-835-3700).
THE FOLLOWING IS A PRESS RELEASE ISSUED BY HAWAIIN AIRLINES, INC. ON APRIL 18,
2002.
FOR IMMEDIATE RELEASE Contact: Keoni Wagner
Thursday, April 18, 2002 (808) 838-6778
wagner@hawaiianair.com
HAWAIIAN AIRLINES FORMALLY TERMINATES MERGER AGREEMENT
HONOLULU - Hawaiian Airlines, Inc. (AMEX and PCX: HA)
announced today that it has given formal notice to TurnWorks, Inc. and Aloha
Airgroup, Inc. that it is terminating their December 19, 2001 Merger Agreement
because the April 18, 2002 outside date for completing the merger has not been
met.
John W. Adams, Chairman of Hawaiian Airlines, stated: "This
notice is a formality under the Merger Agreement. Based on the other parties'
public announcements and ceasing of merger activities after we announced that
Hawaiian was not going to extend the April 18 outside date set forth in the
agreement, we believe that all of the parties had abandoned the merger,
effectively terminating the agreement."
ABOUT HAWAIIAN AIRLINES
Founded in 1929 as Inter-Island Airways, Hawaiian Airlines is
the first and largest Hawaii-based airline. From Honolulu, Hawaiian provides
scheduled and charter air transportation of passengers, cargo and mail among the
islands of Hawaii and between Hawaii and seven Western U.S. gateway cities and
two destinations in the South Pacific. The nation's 12th-largest carrier, it is
also the second-largest provider of trans-Pacific air service between the U.S.
mainland and Hawaii.
Additional information on Hawaiian Airlines is available
online at WWW.HAWAIIANAIR.COM.
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Hawaiian Airlines Formally Terminates Merger Agreement
April 18, 2002
Page 2
TurnWorks Acquisition III, Inc. and Hawaiian Airlines, Inc.
have filed a preliminary joint proxy statement/prospectus and other relevant
documents with the SEC relating to the proposed transaction. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ THE PRELIMINARY JOINT PROXY
STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ON THE PROPOSED TRANSACTION. Investors
and security holders will be able to obtain these documents as they become
available free of charge at the SEC's Web site (www.sec.gov), or at the SEC's
public reference room located at 450 Fifth Street, NW, Washington, DC 20549.
Please call the SEC at 1-800-SEC-0330 for further information about the public
reference room. In addition, documents filed with the SEC by Hawaiian may be
obtained free of charge by contacting Hawaiian Airlines, Inc., Attn: Investor
Relations (tel: 808-835-3700).
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