March 27, 2009 (FinancialWire) -- Hawaiian Holdings, Inc. (NASDAQ: HA) (Current Market Cap: US$175.17 Mil.) said that its board has authorized a stock repurchase program under which the company may purchase up to $7 million of its outstanding common stock.

According to the airline holding company, one or more HA directors plan to participate in the stock repurchase program, individually, and may purchase up to an additional $700,000 of the company's outstanding common stock overall.

The company said it may also institute a program for the repurchase of a portion of its outstanding Term A and Term B debt, subject to the receipt of requisite lender approval.

As of March 23, Hawaiian Holdings had around 51.6 million shares of common stock outstanding.

Honolulu-based Hawaiian Holdings is the parent company of Hawaiian Airlines provides nonstop service to Hawaii from ten gateway cities in the U.S. as well as service to the Philippines, Australia, American Samoa, and Tahiti. Hawaiian also provides more than 160 daily jet flights within the Hawaiian Islands.

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