Posted at 11:19 a.m., Wednesday, October 31, 2007
Mesa shares tumble, Hawaiian's climb after ruling
Advertiser Staff
Shares of Mesa Air Group, the parent company of interisland carrier go!, tumbled about 9 percent after the company was ordered to pay $80 million in damages to Hawaiian Airlines. Meanwhile, Hawaiian's shares jumped 17 percent.The shares of the Phoenix-based carrier dropped 45 cents to $4.65 as news of yesterday's late court ruling reached investors. A judge ruled yesterday that Mesa misused confidential financial information from Hawaiian in deciding to start go!. Mesa gained the sensitive data during Hawaiian's bankruptcy proceeding.
Hawaiian's stock climbed 76 cents to $5.15.
Mesa has said it is considering an appeal of the ruling by U.S. Bankruptcy Court Judge Robert Faris.
