Reported by Star-Bulletin staff & wire
Monday, November 23, 1998
Japan Airlines adds weekly isle flight
Japan Airlines Co. will launch a new weekly direct service from Niigata to Honolulu on Dec. 19, using a 290-seat Douglas DC-10.The airline considers Hawaii the preferred leisure destination of its customers and has expressed faith in the market despite Japan's economic downturn.
The airline in recent months has brought new business to Hawaii by adding flights from smaller cities whose residents are less affected by the economic setback than those in the big cities, such as Tokyo and Osaka.
Kohala land partner going for $100 mil
Hudson General Corp., a partner in the 4,000-acre Kohala Ranch real estate development on the Big Island, has agreed to be acquired by its top executives for about $100 million in cash.While the Great Neck, N.Y., company's main business is providing airport services such as aircraft cleaning and fueling and baggage handling, it is also a joint venture partner with Oxford First Corp. of Philadelphia in the luxury residential Big Island development between Waimea and Hawi.
Hudson General's directors agreed to the buyout offer of $57.25 a share from a group led by Jay Langner and Richard Segal, Hudson's General's chairman and vice chairman. The company's shares, traded on the American Stock Exchange, rose $1.75 today to a 52-week high of $56.371/2.
The sale requires the approval of shareholders and regulatory authorities.
Continental reaches deal with machinists
NEW YORK -- Continental Airlines Inc. today said it reached a three-year labor agreement with the union representing its 3,000 machinists.The agreement with the International Brotherhood of Teamsters, which represents the machinists, would increase wages and modify work rules in its technical-operations division, Continental said.
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