BACK TO TOP |
IN HAWAII
Boeing confirms Hawaiian talks
Boeing Co. confirmed that Hawaiian Holdings Inc., its fifth-biggest finance customer, has asked for a "significant restructuring of its transactions," Bloomberg News reported.Hawaiian, which operates Hawaiian Airlines, has $476 million in loans outstanding to Boeing, or about 4 percent of Boeing's portfolio. Boeing, the world's largest planemaker, made the comments in its annual Securities and Exchange Commission filing.
Since the fourth quarter of 2001, Hawaiian has bought 10 Boeing 767s, adding to its fleet of 13 smaller Boeing planes. Boeing's finance unit is negotiating with struggling airlines such as UAL Corp.'s United Airlines and AMR Corp.'s American Airlines who want to lower their costs. U.S. airlines lost $11.3 billion last year because of falling fares and fewer passengers.
Hawaiian, which had $612 million in 2001 sales, has had a net loss in three of its last four quarters.
Boeing said its profit may be hurt if Hawaiian defaults on the loans. Boeing spokesman Russ Young and Hawaiian Airlines spokesman Keoni Wagner didn't immediately return calls seeking comment.
Hawaiian Airlines retires last DC-10
In a ceremony at Honolulu Airport, Hawaiian Airlines yesterday retired the last of its McDonnell-Douglas DC-10 widebody jets, completing the airline's conversion of its long-haul fleet to more-efficient new Boeing 767-300ER (extended range) aircraft. Hawaiian now has 12 of the two-aisle 767s, which seat 252 to 264 passengers.They are used in Hawaiian's mainland-Hawaii and Hawaii-South Pacific services. Four more aircraft are scheduled for delivery in May.
In 2001, Hawaiian replaced its interisland fleet of 15 DC-9-50 aircraft with 13 new Boeing 717-200 jets, each carrying 123 passengers.
The total fleet replacement, accomplished over two years, has cost the airline about $1 billion, said John W. Adams, Hawaiian's chairman and chief executive officer.
Hawaiian began using DC-10s in its transpacific service in 1994. The last use was the airline's Flight 1 yesterday to Honolulu from Los Angeles.
Hawaiian is currently negotiating with Boeing over the terms of its leases.
A&B big on social responsibility
Alexander & Baldwin Inc. may be a small player in the national landscape, but it ranks No. 1 in America for social responsibility, according to Fortune Magazine.The magazine has informed the Honolulu-based company it has been accorded that honor in the magazine's March 3 issue that is expected soon on the newsstands. Johnson & Johnson and American Express occupied the second and third positions, respectively. The honor came as part of Fortune's annual poll of America's most admired companies.
"We are both surprised and humbled by this tremendous honor," said Allen Doane, A&B's president and chief executive officer. "While we make every effort to be socially responsible in our ongoing business activities and have an active role in our communities, we did not expect to be ranked with such high-profile, nationally prominent companies as Johnson & Johnson and American Express."
A&B was recognized in a separate poll that ranked companies by eight attributes of reputation: social responsibility, innovation, long-term investment value, use of corporate assets, employee talent, financial soundness, quality of product/services, and quality of management.
Fortune also ranked A&B second among transportation companies behind C.H. Robinson Worldwide.
Meanwhile, Fortune's top 10 admired companies were Wal-Mart, Southwest Airlines, Berkshire Hathaway, Dell Computer, General Electric, Johnson & Johnson, Microsoft, FedEx, Starbucks and Procter & Gamble.
Drink an Xterra in your Xterra
The Beverage Group Inc., a subsidiary of Omaha, Neb.-based Amcon Distributing Co., said it has reached agreement with Honolulu-based Team Unlimited to license the Xterra brand name for exclusive use on a sports drink and energy bar.Rollout of the Xterra beverage brand is planned for early summer with the introduction of the energy bar to follow in the fall.
The Beverage Group, which was formed last month, also markets and distributes Hawaiian Springs water. Amcon acquired Hawaiian Natural Water Co. in December 2001.
| | | PRINTER-FRIENDLY VERSION E-mail to Business Editor
Text Site Directory:
© 2003 Honolulu Star-Bulletin -- https://archives.starbulletin.com
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Feedback]
-Advertisement-
