Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, December 16, 1999

Hawaiian records traffic increase

Hawaiian Airlines Inc. said today it carried 481,020 passengers in November, an 11.6 percent increase from 431,028 in November 1998.

Revenue passenger miles, the number of passengers multiplied the miles they were carried, increased 18 percent to 407.7 million last month, from 345.5 million in the year-earlier month.

The airline said its aircraft throughout its interisland, mainland-Hawaii and Hawaii-South Pacific services averaged 75.9 percent full last month, an increase from a 75 percent load factor in November 1998.

Cyanotech applies for remedy patent

Cyanotech Corp., which makes food and pharmaceutical products from microalgae grown in ponds on the Kona Coast, said today it has applied for a patent for the use of its natural astaxanthin to treat cold sores and canker sores.

"The U.S. market for lip balm and cold sore medications is estimated to be in excess of $230 million annually," said Kelly Moorhead, Cyanotech vice president of sales and marketing.

Astaxanthin is an antioxidant, high in beta carotene, which is used as a health-promoting food supplement. It is also fed to pond-raised salmon and shrimp to raise their pink color.

Mortgage rates creep higher

WASHINGTON -- The average interest rate on 30-year fixed-rate mortgages edged up to 7.86 percent this week from 7.84 percent last week, according to a survey released today by mortgage broker Freddie Mac. Fifteen-year mortgages averaged 7.47 percent this week, up from the average of 7.45 percent last week. One-year adjustable-rate mortgages averaged an initial rate of 6.49 percent, up from 6.45 percent.

In other news . . .

(PI) Shares of BancWest Corp. are now trading at a post-split price after a 2-for-1 stock split that took effect today. The parent of First Hawaiian Bank announced the split on Nov. 18. In New York Stock Exchange trading, BancWest closed today at $19.56, down 50 cents from yesterday's split-adjusted close of $20.06.

E-mail to Business Editor

Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Stylebook] [Feedback]

© 1999 Honolulu Star-Bulletin