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HONOLULU, Dec. 31 (UPI) -- Aloha Airlines has joined Hawaii's only other inter-island airline in filing for bankruptcy court protection, KITV-TV, Honolulu, reported Friday.
Aloha, which lists assets of $100 million and debts of the same amount, owes its main creditor, First Hawaiian Bank, $43.8 million. The company, which owns 27 aircraft and employees 3,668 people, also owes the federal government $24 million from a $45 million loan.
Hawaiian Airlines also is in bankruptcy.
"These are hard times for all airlines. Bankruptcy is hard on a company and its employees, so we have lots of sympathy for our colleagues and competitors at Aloha," said Hawaiian Airlines trustee Joshua Gobaum.
A hearing on Hawaiian's reorganization plan is set for Jan. 25, by which date the airline hopes to have gained labor concessions from its unions.
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