HONOLULU -- The Hawaii Superferry announced on Thursday morning that it will pull its ship out of Hawaii, at least temporarily, following a ruling this week by the state Supreme Court.

Hawaii Superferry President and Chief Executive Officer Thomas Fargo made the announcement in a news conference at Pier 19. (Watch the entire Hawaii Superferry news conference.)

The Hawaii Supreme Court on Monday ruled that a law allowing the Superferry to operate while conducting an environmental impact statement was unconstitutional.

"The problem before us today is there appears to be no short-term solution to this ruling. To conduct another EIS even with the work done to date and move it through the legal review that might take a year or so, and other options do not provide the certainty that's necessary to run a business. As a result, we are going to have to go out and find other employment for Alakai for now," Fargo said.

Senate President Colleen Hanabusa was on KITV 4 Island Television News This Morning. She said she was surprised the Superferry is leaving.

"They have made an investment, and I don't think they want to turn their back on the 250 employees that they have," Hanabusa said.

While Fargo said the company will pull the Alakai out, he left the door open for the company to return.

"Our intention is not to dissolve Hawaii Superferry as an entity. Make no mistake about it. Our clear belief again, is that there is a clear need for a high speed interisland ferry system here," Fargo said.

Attorney General Mark Bennett said he plans to ask the state Supreme Court to reconsider its Superferry ruling.

State lawmakers are gearing up to support the attorney general's motion for reconsideration. They are concerned the court ruling might void many laws they wrote in the past to favor a single entity.

"If you go back and you want to talk about things like the rail transit, it is very specific to one county, one opportunity," Sen. Sam Slom said.

Honolulu Councilman Charles Djou said that if the Supreme Court does not reconsider, it opens the door to throw out the transit tax and other laws.

"All the mandates the state has put on the city government, and only the city government, and not neighbor island governments should be eliminated," Djou said.

If the court reconsiders, it could allow Superferry to operate again while it deliberates.

Superferry made its last round trip for now to Maui to return stranded vehicles and customers to their homeports on Thursday.