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Aloha Lost $12 Million In 4Q  
User currently offlinePenguinflies From United States of America, joined Apr 2000, 988 posts, RR: 0
Posted (12 years 4 months 3 weeks 3 days 2 hours ago) and read 1043 times:

but still has $30 million in cash reserves. Revenues were down 4% over 2000, and some expense was for the merger. This is slightly different than what KITV had reported in February, because this came off the forms submitted to the DOT.

"The figures filed at the Department of Transportation are not comparable with the fourth-quarter estimate Aloha included in the bulky disclosure issued earlier this year in connection with the proposed merger with Hawaiian."


http://starbulletin.com/2002/04/10/business/index1.html

3 replies: All unread, jump to last
 
User currently offlineHAL From United States of America, joined Jan 2002, 2560 posts, RR: 53
Reply 1, posted (12 years 4 months 3 weeks 3 days 2 hours ago) and read 1023 times:

A lot of that cash came from their coupon sale a few weeks after the merger attempt was announced. Yes, it's cash on hand, but they'll have to pay for carrying those passengers in the future.

HAL



One smooth landing is skill. Two in a row is luck. Three in a row and someone is lying.
User currently offlinePenguinflies From United States of America, joined Apr 2000, 988 posts, RR: 0
Reply 2, posted (12 years 4 months 3 weeks 2 days 15 hours ago) and read 1000 times:

Really a coupon sale, in the last 13 days of the year? When was the coupon sale (and why didn't my mom buy some some coupons)? I thought these figues were just for FY 2001 (Ending Dec 31). They claim $6 million for the merger expenses and then about another $6 million for loss from operations and other "extra" items. Hal, do you think AQ and Turnworks will win out on the termination fee ($3 million and $1 million)?

User currently offlineHAL From United States of America, joined Jan 2002, 2560 posts, RR: 53
Reply 3, posted (12 years 4 months 3 weeks 2 days 14 hours ago) and read 993 times:

Not likely. The HA Board of Directors merely followed the merger agreement language that allowed them to back out after April 18th. Any one of the parties could have pulled out on or after that date - it just happend to be us. I don't see where there was any breach of contract.

HAL



One smooth landing is skill. Two in a row is luck. Three in a row and someone is lying.
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