Aloha says “Aloha” to bankruptcy — again
For the second time in a little more than three years, Aloha Airlines has sought bankruptcy protection, according to the Honolulu Advertiser. The state’s No. 2 carrier yesterday filed for Chapter 11 reorganization in U.S. Bankruptcy Court, listing assets and liabilities both in excess of $100 million. Aloha blames discount-carrier go! and its parent, Phoenix-based Mesa Air Group, and said the bankruptcy filing aims to protect the carrier and the jobs of its 3,500 workers. Aloha said its losses swelled to $81 million in 2007 after losing $46 million in 2006 and $41.2 million in 2005. The airline said it lost an additional $11 million in January of this year, reports the Star Bulletin.
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