Fitch Ratings affirmed its "A" rating on about $590 million of outstanding state of Hawai'i airport system revenue bonds, saying the Airport Division's monopoly operation of airports in the state and its strong balance sheet and cash position merit the rating.

It noted that the demise of Aloha and ATA airlines had hurt enplanements at the airports, but there had also been a 4 percent increase in overseas traffic during the year ended June 30, 2008.