Posted at 4:41 p.m., Thursday, December 30, 2004
Aloha Airlines files for Chapter 11 bankruptcy
| • | PDF: Aloha Airlines press release |
Advertiser Staff
Aloha Airlines, struggling with rising fuel costs and fierce competition, filed for Chapter 11 bankruptcy protection today.Aloha joined Hawaiian Airlines which has been under court protection since 2003.
The moves comes about six weeks after David A. Banmiller, a top executive with Air Jamaica, took over as Aloha's president and CEO.
Earlier this month Banmiller eliminated approximately 12 top management positions and froze 35 open positions.
Aloha also recently announced plans to discontinue service to the Marshall Islands and American Samoa, effective next month.
"Like other airlines, Aloha is facing challenging times as the entire industry feels the financial impact of soaring fuel prices," Aloha spokesman Stu Glauberman said earlier this month. "Aloha is making tough decisions to reduce costs."
The company was founded in 1946 and has a workforce of 3,700. Aloha operates approximately 620 interisland flights per week and 140 weekly transpacific flights.
