Trustee Releases Plans For Hawaiian Air
Bankruptcy Plan Includes Renegotiating Agreements
POSTED: 9:04 am HST January 28, 2004
UPDATED: 10:04 am HST January 28, 2004
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HONOLULU -- A proposed plan to get Hawaiian Airlines out of bankruptcy was released Tuesday by trustee, Joshua Gotbaum.The plan includes renegotiating leases on the company's new Boeing aircraft and renegotiating labor agreements to cut costs.The restructuring would protect pilot pension plans by freezing benefits. Existing retirees would continue to receive full payment and active pilots would retain their earnings to date.Gotbaum hopes to increase employee profit sharing and expand the airline's trans-Pacific service.The trustee admits getting out of bankruptcy will require sacrifices. A formal plan for reorganization is expected this summer.Gotbaum and the pilots union were not available for comment.
Previous Stories:
- January 23, 2004: Judge Awards Hawaiian Air Trustee $500K
- August 29, 2003: Hawaiian Wants To Stop Pilot Pension Payments
- July 1, 2003: Hawaiian Air Chooses New Trustee
- June 25, 2003: Hawaiian Air Trustee Resigns
- May 16, 2003: Judge Orders Trustee For Hawaiian Airlines
- May 15, 2003: Hawaiian CEO Offers Resignation
- May 9, 2003: Hawaiian Air, Boeing Battle Over Appointing Trustee
- March 21, 2003: Hawaiian Airlines Files For Bankruptcy
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