Aloha Airlines Chief Executive Officer David Banmiller told Congress today that the company "still holds out hope that an investor would look at resurrecting" Aloha's passenger service.

Aloha, the state's No. 2 carrier, shut down its passenger service last week and laid off 1,900 workers after losing more than $120 million during the past two years. The closing represented the largest mass layoff the state has ever seen.

"We still hold out hope that investors would look at resurrecting Aloha's entire passenger operation in the future," Banmiller said.

Banmiller's comments came before the Senate Committee on Commerce, Science & Transportation in Washington, D.C.

In response to a question by Sen. Daniel Inouye, the committee's chairman, Banmiller tempered his remarks, saying he was not optimistic that a new investor would emerge given the high fuel prices, an unfavorable lending environment and the continued fare wars in the interisland market.

Airline executives also told Congress that the recent shutdown of Aloha and ATA airlines will result in fewer flights to the Islands and fare increases of $200 between Hawai'i and the Mainland.

The executives are testifying before Inouye's committee, which is considering the impacts of Aloha's departure from the island market.

Hawai'i Rep. Mazie Hirono says she wants lawmakers to find a way to ensure fair competition and protect consumers since the airline industry was deregulated decades ago.

Banmiller said his airline was victimized by predatory pricing from go! airlines and expensive oil prices.