BUSINESS BRIEFS
Aloha, Hawaiian on-time leaders
Advertiser Staff and News Services
Aloha and Hawaiian airlines continued to lead the nation's major carriers in on-time performance in December.
With 93.7 percent of all Aloha flights arriving on time in December, the airline took top honors for the second month in a row among 20 major U.S. carriers that provide monthly numbers to the U.S. Department of Transportation.
Hawaiian Airlines had the nation's second best on-time performance in December at 90.1 percent, but led all carriers for on-time performance for 2006, according to the report. For the full year, 93.8 percent of Hawaiian's flights were on schedule, marking the third year in a row it led the industry for on-time performance.
Aloha Airlines began reporting its on-time record in April and did not report full-year results.
U.S. FIRM SETTLES IN IRAQ SCANDAL
NEW YORK — The nation's largest natural gas pipeline company agreed to pay the federal government $7.7 million to settle corruption allegations related to the U.N. oil-for-food scandal over aid to Iraq, according to a settlement announced yesterday.
El Paso Corp. will forfeit $5.48 million to the United States, which will seek to transfer the money to the Development Fund of Iraq as restitution to the people of Iraq, according to the agreement announced by federal prosecutors and the FBI.
In a separate deal with the Securities and Exchange Commission, the Houston-based company will pay an additional $2.25 million.
BLACKSTONE TO BUY EQUITY
CHICAGO — Equity Office Properties Trust shareholders overwhelmingly approved a $23 billion all-cash buyout offer yesterday from private equity firm Blackstone Group, sealing the deal on an acquisition that ended with a down-to-the-wire bidding war.
