BUSINESS BRIEFS
Aloha not an airport liability

Advertiser Staff

Aloha Airline's bankruptcy filing poses only "minor immediate concerns" to airports in Hawai'i and elsewhere served by the airline because Aloha has indicated it intends to maintain its current schedule and level of operations, Fitch Ratings said yesterday.

Fitch rates the Hawai'i Department of Transportation Airports System's airport revenue refunding bonds "A" with a Negative Rating Outlook. Although Aloha constitutes a sizable percentage of the Airport System's market share, Fitch said the system's monopoly position, stable finances, and strong management mitigate any potential credit risk from Aloha.

A&B unit sells Calif. property

Alexander & Baldwin Inc. subsidiary A&B Properties yesterday sold a California warehouse complex for $17.8 million to California-based real estate investment fund LBA Realty Fund-Holdings Co. II LLC.

A&B purchased the 246,600-square-foot industrial property called Ontario Pacific Business Centre in 1999 for $13.5 million. The company said it intends to reinvest sale proceeds in Hawai'i or Mainland real estate.

Bell attendant worker of year

Danilo "Danny" Balantac, a bell attendant at the Aston Pacific Monarch, was named the Outstanding Lodging Employee of the Year at the Hawai'i Hotel & Lodging Association's Na Po'e Pa'ahana awards yesterday.

Balantac was selected to receive the association's top annual award based on his dedication and commitment to serving guests and fellow employees at the Aston Pacific Monarch in Waikiki.