Aloha Airlines parent company files for bankruptcy protection

Aloha Airlines parent company files for bankruptcy protection

04:15 PM EST Jan 03
HONOLULU (AP) - The parent company of Aloha Airlines filed for Chapter 11 bankruptcy protection Thursday, becoming the fifth U.S. commercial carrier currently operating under court shelter from creditors.
The move came less than a month after Aloha announced it would lay off a dozen top managers and freeze 35 vacant management jobs because of rising fuel costs. 'It will be business as usual as we move forward to complete the restructuring of our company,' stated David Banmiller, Aloha's president and chief executive, who took over Nov. 14 as head of Aloha Airgroup Inc., replacing Glenn Zander.
Aloha Airlines recently reported a $6 million loss for the third quarter, its fourth quarterly loss in a row.
Banmiller said Aloha hopes to emerge from bankruptcy as quickly as possible.
Its regional rival, Hawaiian Airlines, is expected to emerge from bankruptcy reorganization next month. "