penguinflies
Posts: 932
Joined: Thu Apr 06, 2000 12:00 pm

Aloha Lost $12 Million In 4Q

Thu Apr 11, 2002 1:41 pm

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
 
HAL
Posts: 1742
Joined: Tue Jan 15, 2002 1:38 am

RE: Aloha Lost $12 Million In 4Q

Thu Apr 11, 2002 2:30 pm

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.
 
penguinflies
Posts: 932
Joined: Thu Apr 06, 2000 12:00 pm

RE: Aloha Lost $12 Million In 4Q

Fri Apr 12, 2002 12:40 am

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)?
 
HAL
Posts: 1742
Joined: Tue Jan 15, 2002 1:38 am

RE: Aloha Lost $12 Million In 4Q

Fri Apr 12, 2002 1:49 am

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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