Posted at 12:09 p.m., Wednesday, March 15, 2006
BUSINESS BRIEFS
Hawaiian Air increases financing
Advertiser Staff
The parent of Hawaiian Airlines said it has increased its financing by $91 million to help pay for the expansion of its aircraft fleet.Hawaiian Holdings said the increased borrowings also will be used to refinance existing debt at more attractive terms.
Hawaiian, the state's largest airline, announced in February that it will acquire and retrofit four Boeing 767-300 aircraft for its Hawai'i to Mainland service.
"Hawaiian Airlines is solidly positioned for future growth opportunities with the addition of four 767s and in excess of $125 million of unrestricted cash on hand," said Mark Dunkerley, Hawaiian's chief executive officer.
Mera trims losses in latest quarter
Mera Pharmaceuticals, a Kona-based producer of microalgae products for human consumption, said today it lost $113,588 in the quarter ending Jan. 31, compared with a $246,918 loss for the same period a year earlier.
The company's revenue grew to $152,394 for the period a 15 percent increase from a year earlier. The revenue increase was due to higher sales of the company's AstaFactor line of products, according to Gregory Kowal, Mera's chief executive officer.
Mera also announced the appointment of Kenneth Crowder as chief operating officer. Crowder is a director of the company.
