Judge Urges Hawaiian, Boeing To Reach Agreement
Judge Considering Trustee, Examiner For Hawaiian
POSTED: 5:32 p.m. HST May 9, 2003
HONOLULU -- A federal bankruptcy judge said Friday he is concerned about decisions that cost Hawaiian Airlines millions of dollars before its bankruptcy.
Aircraft-maker Boeing and other creditors said the judge should fire Hawaiian Chief Executive Officer John Adams because he got $17 million for his stock when the airline desperately needed the cash.
Judge Robert Faris said he will probably either appoint a trustee to run the airline or have an examiner look more closely at the airline's books.
He urged Boeing and Hawaiian to try to reach some kind of agreement.
Boeing said a deal would be difficult with Adams in his current position.
"I don't know how that happens without him somehow leaving, but if we can resolve that conflict and resolve those points we would take a look at that," said Anil Patel of Boeing Capital Corp.
"If there is a proposal that makes business sense I am sure that this company will consider it," Hawaiian Airlines attorney John Karaczynski said.
Airline experts said that Hawaiian must be able to work with Boeing in order to succeed in the long run.
Previous Stories:
- May 9, 2003: Hawaiian Air, Boeing Battle Over Appointing Trustee
- March 21, 2003: Hawaiian Airlines Files For Bankruptcy
- January 24, 2003: Hawaiian Airlines Seeks Concessions from Employees, Creditors
- October 31, 2002: Hawaiian Air To Layoff 150 Workers
- October 23, 2002: Hawaiian Air Chief Confirms Job Losses
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