flyNhawaiian767
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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.
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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.