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The Honolulu Advertiser
Posted on: Saturday, September 6, 2003

Business briefs

Advertiser Staff

New Hawaiian lease deal OK'd

Hawaiian Airlines received bankruptcy court approval to restructure aircraft lease agreements with International Lease Finance Corp. with substantially more favorable terms covering four planes, the airline said.

"This is another step forward in our efforts to reorganize Hawaiian Airlines," said Joshua Gotbaum, the carrier's bankruptcy trustee.

The court also approved an extension on aircraft leases granted by Boeing Capital Corp. until Sept. 30. Hawaiian leases 16 Boeing Capital airplanes.

Credit unions join cooperative

Eight Hawai'i credit unions have joined a national cooperative to give their members access to banking services at more than 800 branches in the United States and abroad.

Joining the Financial Service Centers Cooperative network are the Hawai'i Community FCU, Hawai'i State FCU, HawaiiUSA FCU, Hawaiian Tel FCU, Honolulu City & County EFCU, Honolulu Federal EFCU, Pearl Harbor FCU and University of Hawai'i FCU.

Members may bank at participating credit unions in 37 states, Guam, Puerto Rico, Germany, Italy, South Korea and Japan. A list of credit unions is available by calling (888) 287-9475.

Cruise line to end operations

Royal Princess Cruises Inc. is discontinuing its charter cruises and closing down its business effective tomorrow.

Paradise Cruise Ltd. will acquire some of Royal Princess' assets and will offer Royal Princess-style cruises on its Star of Honolulu in addition to regular cruises until a final decision is made on future operations of the 300-passenger Royal Princess ship.

Paradise has hired about half of Royal Princess' employees, or about a dozen people.