Business Briefs Star-Bulletin staff and wire services

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HAWAII

Island Air to add nonstop service

Interisland carrier Island Air said yesterday it will offer nonstop Honolulu-Kona service beginning Sept. 5 on Fridays and Sundays and daily nonstop service starting Sept.16.

The carrier said it is offering a fare of $138 before taxes for round-trip travel between Sept. 2 and Oct. 31 on its Honolulu-Kona, Honolulu-Kahului, Honolulu-Lihue and Kahului-Kona routes.

Those trips must be booked through islandair.com today and tomorrow.

Orbitz.com names top isle hotels

Online travel company Orbitz.com yesterday announced the winners of its inaugural Orbitz “Best in Stay” awards (bestinstay.orbitz.com), recognizing more than 100 top-rated hotels based on guest reviews.

In Hawaii, these hotels won in their categories:

» Family hotel: Turtle Bay Resort, 4-star
» Couples hotel: (tie) Westin Maui Resort and Spa, and ResortQuest Mahana at Kaanapali, 4-star
» Leisure hotel: Outrigger Maui Eldorado, 3-star
» Business hotel: Wyland Waikiki, 4-star

Holiday airfares up 30 percent

Live Search Farecast (farecast.live.com) yesterday issued an early forecast for the 2008 holiday travel season, showing that fares for Thanksgiving are up 35% from last year, while Christmas and New Year's fares are up 31%.

However, the travel search site said some hotels at key vacation destinations are lowering rates. In many cases, overall trip costs have not increased above 2007 costs.

"Nationally, hotel rates are about even with last year, but rates at leisure destinations such as Hawaii and Florida are down as much as 20 percent," the report stated.

Bank of Hawaii gets new rating

Bank of Hawaii was rated "hold" in new coverage by analyst Aaron Deer at Sandler O'Neill & Partners LP. The 12-month price target is $56 a share.

Ex-HECO exec on Sopogy board

Michael May, who retired this year as chief executive officer of Hawaiian Electric Co., has been elected to the board of Sopogy, a Honolulu-based solar power company.

May also serves on the board of the Electric Power Research Institute, the Edison Electric Institute and James Campbell Co.

Plant converts to bioenergy

A coal-fired plant in Pepeekeo on the Big Island will be transformed into the Hu Honua Bioenergy Facility.

U.S. Sen. Daniel Akaka and U.S. Reps. Neil Abercrombie and Mazie Hirono attended a blessing yesterday for the plant's conversion to a bioenergy facility.

The 24-megawatt power station will convert locally grown biomass into electricity, and is financed, operated and majority-owned by Baltimore-based MMA Renewable Ventures.

Hu Honua will deliver enough electricity to power approximately 18,000 homes on the Big Island, or between 7 and 10 percent of the island's total energy needs.

NATION

Longs profit up on benefits gains

Longs Drug Stores Corp., which agreed this month to be bought by CVS Caremark Corp., said second-quarter profit rose on gains at its pharmacy-benefits division.

Net income jumped to $27.5 million, or 76 cents a share, from $26.6 million, or 71 cents, a year earlier, Longs said yesterday. Sales increased to $1.33 billion from $1.27 billion.

American Airlines debuts Internet

NEW YORK » American Airlines launched yesterday airborne Web and other online services on some of its longer, nonstop flights.

American, a unit of AMR Corp., tested in-flight access on two flights on June 25. The airline is making service available for $12.95 per flight on its 15 Boeing 767-200 planes connecting New York with Los Angeles, San Francisco and Miami.

Delta Air Lines Inc., Virgin America and US Airways Group Inc. are also planning to test in-flight services.

Goodyear will close 92 stores

AKRON, OHIO » Goodyear Tire & Rubber Co., the largest U.S. tiremaker, said it will close 92 money-losing retail stores with about 500 full-time workers by the end of the year.

The move affects about 11 percent of Goodyear outlets in North America and will result in charges of about $30 million, half of which will be recorded in the third quarter. The stores, all company owned, had combined annual losses of about $9 million, the Akron, Ohio-based company said Tuesday.

The Goodyear/Gemini Web site store locator lists 13 stores on Oahu, three on Maui and one on the Big Island. The company did not say which of the stores it is closing.