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| Hilo, Hawaii News, Sports, & Information |
Thursday, September 2, 2010 |
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Back to Hawaii News index
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Posted: Monday, May 30th, 2005 6:41 AM HST
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Hawaiian Airlines approaches end of two-year bankruptcy
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HONOLULU (AP) _ As the first of the month approaches, Hawaiian Airlines is preparing to pay off its creditors and make up for lost time.
The Honolulu-based airline, which filed for Chapter Eleven reorganization in March 2003, will exit its second bankruptcy since 1993 on Wednesday.
The company is now in better financial shape than it had been in 2003. The airline has cheaper leases on its aircraft and more than 100 (M) million dollars in unrestricted cash as of April. That's compared to less than 20 (M) million dollars when it filed for bankruptcy.
President Mark Dunkerley will take over as chief executive Wednesday when trustee Joshua Gotbaum steps down. Dunkerley says he's looking to expand the company in California, the East Coast and possibly Asia.
(Copyright 2005 by the Associated Press. All rights reserved.)
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