Yes, you officially have to have more debt than assets to claim bankruptcy, but it is fairly easy to do that in almost any business if you look far enough ahead in what you owe. Beginning with the very month HA declared bankruptcy it started making profits, and continues to do so today.
To paraphrase a famous writer - The rumors of Hawaiian's death have been greatly exaggerated.
One smooth landing is skill. Two in a row is luck. Three in a row and someone is lying.
UA2162 From United States of America, joined Apr 2004, 505 posts, RR: 2
Reply 4, posted (10 years 11 months 3 weeks 20 hours ago) and read 3580 times:
Excellent article! As we all know, HA is doing great. I believe there was a post earlier last month about the record profits they're seeing. I'm glad this is the case; I couldn't imagine Hawaii without HA. Many people I know have been comparing HA's bankruptcy to UA and US. This is a mistake. The article is right, the HA bankruptcy is a different ball game.
LMP737 From United States of America, joined May 2002, 4719 posts, RR: 22
Reply 5, posted (10 years 11 months 3 weeks 11 hours ago) and read 3485 times:
Sounds like things are looking up for Hawaiian. Not sure what to make of the Adams-Carty alliance. Don Carty's name is still mud over here at AA. I hope he's sincere in his endeavors at Hawaiian. Hopefully he has learned from his past mistakes and has had time to reflect on them.
Anyway best of luck to you and Hawaiian! Well not to much luck, at least on the few routes we compete with you.