The top four fare increases all occurred in Hawai'i markets. Honolulu's increase was followed by Kona (14.5 percent), Lihue (14.1 percent) and Kahului (12.7 percent). The biggest year-to-year fare decrease was Philadelphia's 15.8 decline.

Convention Center secures APA booking

The American Psychological Association, which held its annual meeting at the Hawai'i Convention Center last July, has booked another meeting at the center for summer 2013.

The event is expected to draw more than 10,000 delegates and generate about $46 million in visitor spending and $3.8 million in state tax revenue, according to convention center officials.

"The APA rebooking indicates meeting planners and conventioneers are recognizing Hawai'i as a setting to conduct serious business in a favorable environment," said Joe Davis, SMG general manager of the Hawai'i Convention Center.

Matson acquires Houston-based freight company

Matson Integrated Logistics today announced its acquisition of Aquitaine Assets Ltd, a Houston-based freight transportation management and technology company.

Aquitaine provides rail and truck transportation services throughout North America. Its technology services include a Web-based pricing and routing system. Financial details of the acquisition were not disclosed. Aquitaine generated more than $20 million in revenue last year.

Matson Integrated Logistics is a subsidiary of Matson Navigation Company Inc. The latter is a wholly owned subsidiary of Honolulu-based Alexander & Baldwin Inc.

Cyanotech reports $326,000 profit

Kona-based microalgae producer Cyanotech Corp. today reported a profit of $326,000, or two cents a share in the quarter ended Dec. 31, compared with a profit of $109,000, or a penny a share in the year-ago period.

Sales rose 5 percent to $3.18 million from the year-ago quarter.