HONOLULU -- Hawaiian Airlines could be a step closer to getting out of bankruptcy. Hawaiian Holdings, the parent company of the airline, along with trustee Joshua Gotbaum, say they have a plan that will pay all creditors "in full."

Hawaiian would see a $160 million investment from RC Aviation, which would pay off the company's debt and provide capitol to expand.

There are still hurdles to scale.

"We need to reach an agreement on our aircraft with our labor contracts. We need to get approval of our creditors. This plan is the best plan because it offers the best chance to do that," Gotbaum said.

Gotbaum said the plan would make Mark Dunklerly company chief executive officer, but calls for no other major management changes.

A bankruptcy judge must weigh the proposal against other reorganization plans filed with the court.

It's been a year since Hawaiian has been in bankruptcy, the second time in its 75-year history.