LorM From United States of America, joined Jun 2004, 409 posts, RR: 1 Posted (9 years 1 month 3 weeks 2 days 12 hours ago) and read 2314 times:
A Mainland investment group will buy Aloha Airlines, in a deal that would allow the state's second-largest carrier to pay off its debts and emerge from bankruptcy protection.
During a bankruptcy court hearing yesterday, Aloha's attorney Paul Singerman said the company is finalizing the terms with a new investor. The name of the investor group and how much will be invested could be disclosed as early as today, when Singerman seeks bankruptcy court approval for the transaction.
The proposed deal will breathe new life into the cash-strapped airline and assure competition in the interisland market for years, but it's not likely to reverse the trend toward higher interisland fares.
"It's good news," said Everett McDaniel, a retirement-plan consultant with Pacific Island Financial Management LLC, who flies to the Neighbor Islands about once a month.
"With two airlines, you have a better choice of flights and seats, and the competition creates better prices."
Ha763 From United States of America, joined Jan 2003, 3663 posts, RR: 5
Reply 1, posted (9 years 1 month 3 weeks 2 days 6 hours ago) and read 2217 times:
The Ching's and Ing's finally were able to sell off AQ. They have been looking to sell for such a long time and it took bankruptcy to do it. Seems like they will keep a minority stake and won't get out completely. This is a big turn around from when they took the company private in the 1980's to thwart a takeover by a mainland company.