Aloha Airlines formally exited bankruptcy today with new investors joining longtime stakeholders to create a financially solid company that positions the privately held Hawaii-based carrier for future growth. Aloha's emergence from Chapter 11 completes a wide-ranging reorganization begun in December 2004.
"Today, the 60-year-old tradition of Aloha Airlines has been reborn with a renewed commitment to serve the inter-island and transpacific markets with the finest and friendliest service in the sky," said David A. Banmiller, Aloha's president and chief executive officer.
"Aloha Airlines is now a 60-year-old start-up company with a low-cost structure," said Banmiller.
The lead investor behind Aloha's successful reorganization is The Yucaipa Cos., a private equity investment firm headed by Ronald W. Burkle. Participating with Yucaipa are Aloha Aviation Investment Group and Aloha Hawaii Investors LLC.
PR Newswire
"Today, the 60-year-old tradition of Aloha Airlines has been reborn with a renewed commitment to serve the inter-island and transpacific markets with the finest and friendliest service in the sky," said David A. Banmiller, Aloha's president and chief executive officer.
"Aloha Airlines is now a 60-year-old start-up company with a low-cost structure," said Banmiller.
The lead investor behind Aloha's successful reorganization is The Yucaipa Cos., a private equity investment firm headed by Ronald W. Burkle. Participating with Yucaipa are Aloha Aviation Investment Group and Aloha Hawaii Investors LLC.
PR Newswire
