Posted on: Friday, May 21, 2004
BUSINESS BRIEFS
Kaiser reports drop in profits
Advertiser Staff and News Services
Kaiser Foundation Health Plan reported a first-quarter net income of $2.6 million compared with profits of $3.1 million in the year-ago period. Revenues came to $194 million versus $172 million last year. Kaiser, the state's second largest healthcare organization with 235,000 members, said the Insurance Division's approval of an 11.7 percent rate hike instead of the 14.5 percent it requested would affect financial results throughout the year. Kaiser said it needed the higher rate to help pay for building of clinics and a new medical record system.
Pilots challenge route transfer
Aloha Airlines pilots yesterday filed a legal challenge to the carrier's decision to turn over a Maui-to-Kona route to Island Air, the Air Line Pilots Association said. The union contends the action violates an agreement not to outsource pilot jobs.
Aloha discontinued the route on May 13. Aloha officials had no comment.
Maui gas price at record high
Wailuku, Maui, hit a new high at an average $2.599 a gallon for regular gasoline, according to the AAA travel club survey posted today.
Honolulu's average price for regular dipped to $2.188 a gallon. Hilo remained at a record $2.369 a gallon. The statewide average for regular dropped to $2.272 from $2.276 the previous day.
Hawai'i trails California, which on average pays $2.318 a gallon, and Oregon, which averages $2.281 for regular gasoline, according to the survey.
