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HA_DC9
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Joined: Thu Jul 15, 1999 3:16 pm

HA To Emerge From Ch 11 6/1/05

Fri May 20, 2005 3:55 am

http://the.honoluluadvertiser.com/article/2005/May/19/bz/bz06p.html

The bankruptcy judge approved the reorganization plan yesterday with an exit on June 1st. Under the plan: Ranch Capital LLC takes over as majority shareholder, shareholders keep their shares, and creditors receive full claims either in cash or stock. HA will also look for additional aircraft to lease.
 
MidnightMike
Posts: 2810
Joined: Thu Mar 06, 2003 10:07 am

RE: HA To Emerge From Ch 11 6/1/05

Fri May 20, 2005 4:06 am

Quoting HA_DC9 (Thread starter):

The airline, which filed for Chapter 11 reorganization in March 2003, will begin paying its creditors once it emerges from bankruptcy. The airline said it owes about $246 million to about 1,100 creditors.
Gotbaum said that Hawaiian's reorganization is unusual because its creditors will receive the entire amounts of their claims, mostly in cash. In most bankruptcies, creditors receive pennies on the dollar.

Wow, that is certainly good news for the creditors!
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B6FA4ever
Posts: 753
Joined: Sun Aug 24, 2003 6:49 am

RE: HA To Emerge From Ch 11 6/1/05

Fri May 20, 2005 4:26 am

that is awsome news for HA! looking forward to flying them agian this summer! Hello to all the LAX based F/A's by the way! you guys rock!

in the article it mentioned HA is looking at leasing more B767's. does anyone think they already have at least one planed lined up to support the new HNL-SJC route? or are they going to adjust either the SEA or LAX freq.'s to start the SJC route?

congrats HA! here's to a stronger airline to serve Hawaii!

~B6FA4ever

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