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Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, November 16, 2000

Hawaiian records increased business

Hawaiian Airlines Inc. said it carried 507,716 passengers in October, a 3.7 percent increase from 489,568 in the same month last year.

But the airline said yesterday that paying passengers occupied 75.2 percent of its seats last month, down from 80.8 percent in October 1999. The so-called load factor fell because revenue passenger miles (the number of passengers multiplied by the miles they traveled) increased just 5.4 percent while available seat miles (the number of seats multiplied by the total miles flown) jumped 13.1 percent.

Through the first 10 months of 2000, Hawaiian has carried nearly 5.3 million passengers, up 10.6 percent from 4.8 million in the same period last year.

Starwood added to S&P 500 index

Starwood Hotels & Resorts shares rose as much as 12.5 percent this morning after the company's stock was added to the Standard & Poor's 500 index.

Starwood replaced building materials company Armstrong Holdings Inc. in the S&P 500. Stocks that are added to the index routinely climb because mutual funds that track the broad market barometer must buy the shares. In late-morning New York Stock Exchange trading, Starwood was up $2 at $34 after hitting $36 earlier in the day. White Plains, N.Y.-based Starwood is one of the world's largest hotel chains, operating properties under the Westin, Sheraton and other brands.

Northwest to cut Continental stake

DETROIT -- Northwest and Continental airlines reached a definitive deal under which Northwest will sharply pare its voting stake in Continental, hoping to end a federal antitrust trial over the matter.

The two airlines offered the plan today to U.S. District Judge Denise Page Hood, who adjourned the antitrust trial until Nov. 27 to give the government time to review the deal and respond. During the trial, which began Nov. 1, the Justice Department has sought to force Northwest to divest its controlling interest in Continental, arguing that Northwest's holding could stifle competition.