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Aloha Airlines Bankrupt
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03-21-2008, 03:29 AM
Aloha Airlines Filled for Chapter 11 bankrupcy yesterday with losses of 100 million dollars.
http://starbulletin.com/2008/03/21/news/story01.html I know that was coming.... 
03-21-2008, 04:41 AM
Bummer. Oh my aching frequent flyer miles.
Hope there still good. Wyatt
"Yearn to understand first and to be understood second."
-- Beca Lewis Allen
03-21-2008, 06:00 AM
According to several Honolulu media outlets, Aloha will continue to honor its frequent flyer arrangements along with all its other usual operating practices "as long as the bankruptcy judge approves our continued operation during reorganization." Since corporations usually try to file for reorganization in sympathetic judicial arenas, there should be no short-term disruptions.
If, however, the judge and/or creditors lose all confidence in the survivability of the company, liquidation or a forced acquisition could be ordered. In the event of liquidation, frequent flyers (who are technically unsecured creditors and whose miles are carried on the books as a liability) are out of luck. In a forced acquisition, the acquiring airline has the choice as to whether to roll the frequent flyer program into their own. In terms of good will and wishing to pick up customers this is usually, but not always, seen as a good thing to do. Sometimes acquiring entities pick and choose the assets they want to acquire without taking over the entire company. It's all very complicated, and the employees almost always lose out on some level. Cheers, Jerry
03-21-2008, 06:05 AM
quote: ditto! malia paha o lohe aku perhaps they will hear
"a great many people think they are thinking when they are merely rearranging their prejudices."
w. james
03-21-2008, 06:07 AM
Since this is the second time Aloha has filed for bankruptcy in 2 years (the other being on 2006)....Chapter 11 may not go as smoothly as the first filing.
03-30-2008, 08:13 AM
Aloha....Aloha:
Aloha Airlines announced today that it will be shutting its inter-island and trans-Pacific passenger flight operations. Aloha's last day of operations will be Monday
03-30-2008, 10:52 AM
I just got an email from Hawaiian Airlines saying that due to Aloha's termination of passenger service tomorrow, "we anticipate that there will be a heavy burden on our Reservations call center, as well as at the airports". Hawaiian says that they will honor $49.00 airfares until April 9th.
I noticed Go Airlines took down their ad for 49.99 one way fares on their website. There goes all my frequent flyer miles... It's going to be back to $250 or possibily $300 roundtrip inter-island fares very soon.
03-30-2008, 12:34 PM
quote: I just checked... looks like Go is back at $49.00. Just goes to show how the airlines can really turn their prices in just a matter of notice. But to me what is even more impressive... Is Hawaiians offer For standby travel on Hawaiian Airlines, available space permitting and free of charge To help minimize the impact, Hawaiian Airlines is making special arrangements to accommodate passengers holding Aloha tickets: I think that is a great thing for them to do. For those that had Aloha Miles... You can check Here on ways you may still be able to redeem them. If you were a member of the Aloha Pass Elite Members they will transfer over to Hawaiians Pualani program till the end of the year.
03-30-2008, 12:54 PM
Thanks- I thought I was going say aloha to my frequent flyer miles. Sadly aloha to Aloha. There was speculation of dislocations for Merrie Monarch Festival.
On the bright side maybe my HA stock going up now and Mesa can buy a better name!! Other people want to make friends- I just want to make money. James Cramer |
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