The parent of Hawaiian Airlines said it will acquire three wide-body jets and will amend the lease terms for four additional aircraft, in a deal valued at $150 million.

The purchase and lease agreement is the second major investment by Hawaiian since it emerged from bankruptcy in June 2005. The airline announced earlier this year that it was buying four Boeing 767-300 aircraft for $31.8 million as part of a plan to expand its West Coast service.

In filings with the Securities and Exchange Commission yesterday, Hawaiian Holdings Inc. said it has signed a letter of intent to purchase three Boeing 767-300ER jets that it currently leases from AWAS Aviation Services Inc. of Ireland.

Hawaiian, the state's largest airline, also said it will amend the lease agreements for four other planes it leases from AWAS.

Under the terms of the existing agreement, AWAS had the option of terminating Hawaiian's leases next year. The amended lease agreement removes this provision, shortens the terms of the leases and adjusts the lease rates, the company said.

"We are extremely pleased to have reached this agreement with AWAS which provides both near-term certainty by removing the call options on our aircraft, and medium-term flexibility by shortening the lease terms on the remaining four aircraft," said Mark Dunkerley, Hawaiian Airlines' president and chief executive officer.

"We believe both developments are positive for Hawaiian, our employees and our shareholders as we can now begin to focus on a comprehensive fleet plan for the future."

The aircraft purchases, which are subject to financing, are expected to close during December 2006.

Hawaiian Airlines spokesman Keoni Wagner said the jets are being used on the airline's Mainland flights, which is an expanding part of the airline's business.

"Clearly, the trans-Pacific market is and will continue to be a big part of our business," Wagner said.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.