Business briefs

Advertiser Staff

Hawaiian Air reaches accords

Hawaiian Airlines has reached tentative agreements to restructure its lease payments with two of the three companies it leases airplanes from, but still hasn't paid most of its vendors, a company official told creditors today.

Christine Deister, Hawaiian's executive vice president and chief financial officer, said Hawaiian has tentative new arrangements with Ansett Worldwide Aviation Services Inc. and International Lease Finance Corp, but no new arrangement with Boeing Capital Corp.

Shareholder sues City Bank

A shareholder in City Bank parent CB Bancshares has sued the bank and its directors, alleging they have violated their duty to shareholders by balking at a hostile takeover bid by local rival Central Pacific Bank.

Plaintiff Barbara Clarridge, in a state Circuit Court lawsuit filed yesterday, claims CB Bancshares directors are illegally blocking the hostile bid, which would pay the bank's shareholders cash and Central Pacific stock worth $70 per CB Bancshares share.

The deal would return about 50 percent over the CB Bancshares stock price on April 16, the day the deal was announced.