Business briefs

Advertiser Staff

Hawaiian Air updates fleet

Hawaiian Airlines has completed a $1-billion-plus fleet modernization program to replace its DC-10 jets with Boeing 767-300 airplanes.

As of yesterday, Hawaiian began flying all of its long-range flights between Hawai'i and the Mainland and South Pacific using the newer aircraft.

The company phased out the last of its DC-10s Thursday, marking the end of a process that started in October 2001. Hawaiian now has 12 Boeing 767-300 extended range aircraft in service and four additional jets are scheduled for delivery by May.

Hotel occupancy up in January

Hotel occupancy averaged 73 percent statewide in January, an 8.37 percent increase from January 2002, when occupancy was 68 percent.

While improving over the past year, January hotel occupancy was below the 78 percent recorded in January 2001 before the Sept. 11 attacks.

Data released yesterday by PKF-Hawaii showed the average daily room rate of $154.43 in January, up 5.3 percent from $146.63 a year earlier. Revenue per available room averaged $113.22 statewide, up 14 percent from $99.21 last January.

The January statistics are based on a survey of 132 properties, including 71 hotels and 61 resort condominiums.

College fund limit raised

The state has raised the contribution limit on a tax-exempt college savings program to $297,000 from $253,000 last year to reflect the rising costs of higher education, Gov. Linda Lingle's office said in a news release.

The savings program, TuitionEDGE, which was started last year, is exempt from federal and state income taxes when used for college expenses.

Hawai'i's "529 plan," named after Section 529 of the Internal Revenue Code, is administered by Delaware Investments, which has a contract with First Hawaiian Bank to offer the accounts.