April 18, 2008
Aloha Sale Hearing to Take Place in Oakland, April 24, 2008
Aloha has filed a motion with the Bankruptcy Court in Hawaii asking the court to approve the sale of its air cargo division, easily the most profitable of Aloha's divisions according to the motion, to Saltchuk Resources, Inc. or the highest bidder. The hearing has been set for April 24, 2008 at 11:00 a.m. in Oakland before Judge Randall Newsome. The sale price (subject to the "definitve agreement") is $13 million plus a percentage of a/r plus assumption of "certain leases."
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