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HAWAII

Japan Air may cut 2 Honolulu flights

Japan Airlines Corp. is considering whether to eliminate two of its eight daily flights between Japan and Honolulu, effective Oct. 1, as a part of a larger corporate move to cut unprofitable routes.

Asia's biggest carrier is reviewing the elimination of its Fukuoka-Honolulu route and one of its two Osaka-Honolulu flights, Japan Airlines spokesman Gilbert Kimura said yesterday. A decision likely will be announced soon, he said.

The cuts, which also affect flights to South Korea, Hong Kong and Guam, are the largest since the Sept. 11, 2001, terrorist attacks, the Financial Times reported.

The carrier has warned its full-year profit may drop 44 percent because of higher fuel costs, which are plaguing much of the world's airline industry.

Cingular to build 22 cell phone sites

Cingular Wireless, the nation's largest cell-phone carrier, plans to spent about $22 million this year to build more than 22 cell sites in Hawaii, on top of $9 million in network upgrades last year.

The company said it is continually improving its local network to provide quality service.

Cingular, jointly owned by BellSouth and SBC Communications, bought the former AT&T Wireless last year. Cingular recently announced similar plans to spent $67 million in Kentucky and $160 million in Tennessee this year to build more cell sites.

Higher Hawaii rates boost Hilton

Hilton Hotels Corp., the No. 3 U.S. hotel company, said second-quarter profit more than doubled as it raised room rates in places including Hawaii and sold properties.

Net income climbed to $202 million, or 49 cents a share, from $75 million, or 19 cents, a year earlier, the biggest gain in five quarters. Revenue rose 10 percent to $1.18 billion, Beverly Hills, Calif.-based Hilton said.

Hilton, whose brands include Doubletree and Hampton Inn, increased room prices an average of 6.4 percent at owned hotels in the quarter, with the biggest gains coming in New York, Chicago and Hawaii.

"Many of the hotels in our most important markets are running essentially full, with occupancies well into the 80s and, in the case of New York City, in the 90s, bringing the pricing power that comes with increased travel demand and limited new supply," said the company's chief executive, Stephen Bollenbach.

Hirata named chairman of JCCH

Dean Hirata, chief financial officer of Central Pacific Financial Corp., has been elected chairman of the board of the Japanese Cultural Center of Hawaii. Hirata, who has served on the board as treasurer since 2003, started the position July 1.

In 2003, after the cultural center cleared its debt of $9 million, Hirata became one of the center's directors. He also served as committee chairman for the JCCH budget and finance committee.

Hawaiian Electric maintains dividend

Hawaiian Electric Industries Inc. has declared a third-quarter dividend of 31 cents a share to be paid Sept. 12.

To get the dividend, an investor needs to have acquired shares no later than Aug. 5. The dividend has been kept at 31 cents since 1998. The yield is 4.7 percent.

NATION

Boeing's commercial aircraft sales jump 20%

Boeing Co., the world's No. 2 commercial-aircraft maker, said second-quarter sales climbed 15 percent, the biggest increase in almost four years, bolstered by a jump in deliveries of more expensive jetliners.

Net income declined a less-than-estimated 6.8 percent to $556 million, or 70 cents a share, from $607 million, or 75 cents, a year earlier, when it had a tax benefit. Sales increased to $15 billion, the Chicago-based company said. Boeing raised its full-year earnings forecast.

Boeing and bigger rival Airbus SAS are benefiting as deregulation and economic growth in Asia and the Middle East spur travel demand. Boeing's commercial-aircraft sales jumped 20 percent in the quarter.