Aloha Airlines files for bankruptcy

[flyNhawaiian767]

Star-Bulletin Staff
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The parent of Aloha Airlines today joined its local competitor Hawaiian Airlines — and several carriers across the nation — in filing for Chapter 11 reorganization bankruptcy amid the high cost of jet fuel.



Aloha Airgroup Inc., which recently posted its fourth quarterly loss in a row, filed its petition this afternoon in Honolulu.

Aloha owes $24.1 million to the government’s Air Transportation Stabilization Board, set up to help ailing carriers survive the attacks of Sept. 11, 2001, as well as nearly $21.5 million to First Hawaiian Bank. The company’s total assets and debts were not available. Aloha and Hawaiian announced a merger after 9/11, but the deal fell apart and Hawaiian later filed for Chapter 11 after it could not reach renegotiate its aircraft lease agreements.

 

[flx757]

It should come as no surprise since David Banmiller was hired as CEO. It's what he does. In fact, it's ALL he does.

Good luck to all.

 

[RJP]

Sad thing is that a friend who flies there didn't know it until I mentioned it.

Something's wrong with the communication over there.

Best of luck to all.

 

[Hugh Jorgan]

FlyinHawaiian, I don't think this has been posted in the cargo forum yet. Better get over there and get your gloat on.

 

[RJP]

Don't forget the YGTBSM forum.

 

[flyNhawaiian767]

FlyinHawaiian, I don't think this has been posted in the cargo forum yet. Better get over there and get your gloat on.

Glad to help. And welcome to the club.

 

[RJP]

I don't think Hugh really qualifies any longer............

 

[Dan Roman]

Hugh,
I'm with Hawaiian and believe me we are not gloating. Most of us have friends and/or relatives at AQ. In addition, this doesn't help HAL at all and could have the potential to hurt us if you failed (highly unlikely). If you did fail we would have to compete with a non union upstart that would initiate fare wars to try and gain market share, not good.
Take it from someone who has been through this twice, you are going to hear lots of rumors (good and bad) and none of them will have any relevance to what finally happens. A lot could happen. There was a lot of money out there shoping for airlines when HAL decided on Ranch Capital. You might end up with an investor that gets 757's and end up better of
It's an emotionally bumpy road but keep it in perspective and it's not that bad. As far as flynhawaiian767 gloating, based on some comments he made, I really don't think he works for Hawaiian
No matter what goes on in the board room, it doesn't effect the surf!