Exhibit 99.1


March 1, 2004                                       MEDIA CONTACT:
                                                    Bob Loy or Ruth Ann Becker
                                                    Becker Communications, Inc.
                                                    (808) 533-4165



     Hawaiian Holdings Announces Preliminary Reorganization and Emergence
                  from Bankruptcy Plan for Hawaiian Airlines


Hawaiian Holdings Inc., the parent company of Hawaiian Airlines today
announced its preliminary plan for the reorganization of the Airline (HAL),
and a vision for the future that includes expansion of the airline's routes.

Presented by Holdings Chairman John Adams, the plan provides for resolution of
all outstanding claims against and interests in HAL, and proposes:

o  infusing at least $30 million in new capital in return for 50% of the
   newly reorganized company

o  40% of the company remains with existing shareholders.

o  $160 million dollar unsecured note plus 10% of new stock (at no cost) to the
   unsecured creditors

o  accepting lease terms offered by Boeing in the plan offered by CRG/Boeing

o  a mechanism to deal with the underfunding of the Pilots Pension Plan subject
   to disclosure of necessary information from the trustee

o  emerging from bankruptcy by Fall 2004

o  negotiate 3 year extension of contracts with Hawaiian's unions, asking
   for no wage givebacks from Hawaiian's employees.





"Our plan supports Hawaiian's employees--the folks whose dedication and hard
work have turned our Airline around" Adams said. HAL employees have already
given enough with previous wage concessions, he stated, and, "they continue to
contribute to the Airline's financial success every day by their
professionalism and aloha spirit. Asking them to dig deeper will kill morale
and cut the heart out of what's making Hawaiian a success today--its people."

Adams noted that plans created prior to his departure from HAL last year have
steered it to 10 consecutive months of profits, enabled it to become the
industry leader in on-time performance, and resulted in a strong cash balance.

"Hawaiian's success isn't a flash in the pan. It is hard, consistent evidence
that, by streamlining operations and refocusing priorities, Hawaiian's
talented management team, led by Mark Dunkerly, has been able to achieve
remarkable results. What Hawaiian needs now is continuity, not change," he
said.

Consequently, the Holdings Preliminary Reorganization Plan will keep the
current HAL management team intact with the exception of moving President Mark
Dunkerley into the position of Chief Executive Officer. "The right person for
the job of leading Hawaiian Airlines is already on the job," said Adams.

Presenting with Adams was GCW Consulting President Mo Garfinkle, a Hawaiian
Holdings advisor and renowned industry analyst. Garfinkle stated that the
Airline's recent track record and operational performance illustrates a strong
value for existing shareholders. He emphasized that the company has an
enterprise value that far exceeds the claims, had 2003 profits of $75 million,
and with record profits in January Hawaiian is off to an even better start in
2004.

"Any reorganization plan that does not recognize that this airline made
impressive profits last year, and has substantial cash and real momentum going
into 2004, is a plan to steal Hawaiian Airlines, not reorganize it. The
CRG/Boeing Plan brings new meaning to the term `bottom fishing.' There is real





value, significant value, in the equity in this airline and the Hawaiian
Airlines franchise," Garfinkle stated.



Other key elements of the preliminary plan presented today include:

o    no topping fee (bonus) for preparation of the Reorganization Plan

o    creation of a litigation trust with an independent committee that will
     oversee the lawsuit against John Adams and AIP LLC with 65% of proceeds
     going to unsecured creditors and 35% to the reorganized HAL

o    plans to expand HAL's reach far into Asia and non-traditional Mainland
     markets

 "Our vision will benefit the Airline, its employees, and the economy of the
State of Hawaii," said Adams. "We want to give Hawaii residents more access to
the rest of the world.... and provide the means by which we can bring
thousands of new visitors to Hawaii."

Adams said that the plan filed today is preliminary because neither Holdings,
nor any bidder have been given access to the Airlines' financial and traffic
information, or to the lease terms offered by Boeing. "All bidders should have
access to all company records and data, as well as the Boeing aircraft lease
terms," Adams said. "For this bidding process to have any credibility, it must
be open, transparent, and on a level playing field."

Adams said that once they have access to such information he expects Holdings
to file an enhanced and detailed plan of reorganization.

Within the next two weeks, Hawaiian Holdings will file a motion asking the
bankruptcy court to ensure such information is widely available to all
bidders.

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