Mardi, 7 Juillet 2020
Dernières nouvelles
Principale » Island Air to shut down after 37 years

Island Air to shut down after 37 years

10 Novembre 2017

"Island Air has taken every measure possible to avoid this tremendous hardship to its passengers", said Uchiyama.

Legal battle with companies from which the interisland carrier leases its planes prompts airline to end service November 11.

Island Air is the state's second-largest airline. "The closure will have a tremendous effect on 400 employees and their families, and the state will be working with Island Air to help the employees apply for unemployment insurance and provide assistance with job searches and training opportunities".

Earlier this month, Island Air was forced to file for Chapter 11 bankruptcy protection (see link below) in an effort to continue operations following threats of legal action by the lessors of Island Air's aircraft to ground and repossess the company's fleet.

Island Air said all passengers must make alternative arrangements for interisland transportation. We apologize for any inconvenience this may have caused.

Currently Overpriced Or Underpriced? - Nektar Therapeutics (NKTR), Redfin Corporation (RDFN)
Rothschild Asset Management Inc. bought a new stake in Nektar Therapeutics during the second quarter worth approximately $407,000. Jefferies maintained the stock with "Buy" rating in Wednesday, October 18 report. 0 analysts gave its stock an Outperform rating.

Island Air was unable to locate a new investor or lender to provide funding to support airline flight operations and a successful reorganization.

One of the difficulties of attracting new investors was the aggressive legal attacks by Lessors Wells Fargo Bank Northwest, N.A. and Elix 8 Ltd. Soon after, it expanded to Maui, Molokai, Big Island and Lanai. The same year, the company was purchased by Oracle founder Larry Ellison's company, 'Ohana Airline Holdings.

On Oct. 16, 2017, Hawaii Island Air, Inc. On October 12, 2017, while in the process of negotiating its aircraft leases with its lessors, airline representatives claim Island Air "was very surprised that the lessors served them with notices of termination of the leases and demands to surrender its airplanes".

"It is with a heavy heart that I must inform all of you that tomorrow, Friday, the 10th of November, will be the last day for Island Air to be in service", CEO David Uchiyama said in an email today to employees.

George D. Szigeti, president and CEO of the Hawaii Tourism Authority (HTA), issued the following statement regarding today's announcement from Island Air.

Island Air to shut down after 37 years