Aloha posts $2.5 million
operating gain in May

The bankrupt carrier achieves revenue
of $38.5 million in generating its second
profitable month since August 2004

Aloha Airlines posted its second-best monthly result since filing for bankruptcy last December as it generated a $2.5 million operating gain in May.

The carrier, which has been seeking investors to bring it out of Chapter 11 reorganization, had revenue of $38.5 million, according to a belated filing yesterday with federal Bankruptcy Court. The filing was due June 20.

Aloha, which is privately held, did not provide any comparative numbers for the year-earlier period.

"These numbers showed that the reorganization plan is on course," Aloha spokesman Stu Glauberman said.

Aloha has had only one other profitable month since entering bankruptcy on Dec. 30. That was in March when it had an operating gain of $3 million on the strength of spring break. It was Aloha's first profitable month since August 2004.

In April, the airline had an operating loss of $3.8 million.

The airline also had a net gain of $439,714 in May despite paying nearly $3.3 million for legal and professional fees. Operating expenses in the month were $36 million.

Aloha attorney Paul Singerman said in May that the company would start to see the benefits of employee labor concessions in the second quarter.

Since filing for bankruptcy, Aloha has posted an operating loss of $4.7 million and a net loss of $17.9 million. It has total revenue during that period of $185.7 million.