Earlier this month, Corporate Recovery Group LLC, a Wyoming-based turnaround company, filed a plan that included a $30 million cash infusion to take Hawaiian out of bankruptcy. Yesterday, Robert Konop, a Hawaiian Airlines pilot, submitted the second reorganization plan. Hawaiian Holdings Inc., the parent company of Hawaiian Airlines; Vx Capital Partners, a San Francisco-based airline investment company; Lonestar Partners LP, which owns 5 percent of Hawaiian's stock; and the Hawaiian Reorganization Committee are expected to file competing bids.

Trustee Josh Gotbaum and the creditors committee want to set a deadline for all bids, followed by a period to study the bids and a date for when they select one of the bids to recommend to the bankruptcy court.

"To get what's best for Hawaiian, we need a fair process — one that gives those parties who are qualified and interested the information they need to put their best proposal forward, and that gives that proposal fair consideration when they do," Gotbaum said.

Hawaiian Airlines filed for bankruptcy in March after John Adams, the chief executive at the time, could not reach an agreement with Boeing Capital Corp. to reduce the leases on Hawaiian's fleet. Adams had intended to bring the airline out of bankruptcy, but the court removed Adams on Boeing's request and appointed a trustee. Now the court is accepting proposals to reorganize the carrier.

Stephen Compagni Portis, a partner in Vx Capital, said he supports Gotbaum and the committee's proposal.

"They are trying to create a level playing field for all interested parties," he said.