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The Honolulu Advertiser
Posted on: Tuesday, August 7, 2007

BUSINESS BRIEFS
Hawaiian best at being on time

Advertiser Staff and News Services

Hawaiian Airlines had the top on-time performance in the nation's airline industry in June, with 92.9 percent of its flights on schedule, according to a monthly report by the U.S. Department of Transportation.

Aloha Airlines had the nation's next best on-time record with 86.8 percent of its flights on time, according to DOT figures.

Hawaiian also had the fewest cases of mishandled baggage and the fewest cancellations. Aloha was third for mishandled baggage behind AirTran and was 11th for fewest cancellations.


MALL TO OPEN NEW PLAY AREA

Windward Mall will open an indoor children's play area Friday as the last part of a yearlong renovation that cost $23 million.

Improvements at the shopping center owned by Kamehameha Schools include redesigned entrances, enhanced landscaping, new flooring, lighting, seating, signs, ceiling and an additional escalator between the mall's two levels.


HARBOR BONDS GIVEN A+ RATING

Fitch Ratings has assigned an "A+" rating to $52 million in Hawai'i state harbor system revenue bonds scheduled to be sold around Aug. 15.

Proceeds from the sale will refund all of the outstanding harbor system revenue bonds issued in 1997. Fitch also affirmed the "A+" rating on approximately $261 million in outstanding revenue bonds. The rating outlook on all bonds is stable.

Fitch said the "A+" rating "reflects the strength of the state's underlying economy and the Harbor Division's natural monopoly position in providing essential maritime services."

"Offsetting the strengths of this credit are the economic sensitivity to any significant fluctuations in the tourism industry, unknown financial exposure related to payments to the Office of Hawaiian Affairs regarding the ceded lands on which a portion of the port system operates, a sizable and evolving capital program that will necessitate increasing leverage, and ongoing security and environmental concerns."