Piperflyer
Well-Known Member
http://www.kitv.com/money/18971543/detail.html
Republic Becomes 50% Shareholder Of Mokulele Air
Republic Airways VP To Serve As Interim President, CEO
HONOLULU -- Republic Airways is becoming a 50 percent shareholder of the Hawaii-based Mokulele Airlines in a recapitalization deal that will install new management at the interisland carrier.
Thursday's announcement said Indianapolis-based Republic will convert a significant portion of its $8 million loan to Mokulele and invest additional equity.
Mokulele founder Bill Boyer, who has served as president and chief executive officer, said he was pleased the airline was able to recapitalize.
Republic Airways Vice President for Strategic Alliances Scott Durgin will serve as Mokulele's interim president and CEO, with Boyer concentrates on sales and marketing efforts.
Just last month, Mokulele managed to make a loan payment, staving off seizure of its assets and operations by Republic Airways Holdings Inc.
Now I wonder what that means for the current Mokulele pilots.
Republic Becomes 50% Shareholder Of Mokulele Air
Republic Airways VP To Serve As Interim President, CEO
HONOLULU -- Republic Airways is becoming a 50 percent shareholder of the Hawaii-based Mokulele Airlines in a recapitalization deal that will install new management at the interisland carrier.
Thursday's announcement said Indianapolis-based Republic will convert a significant portion of its $8 million loan to Mokulele and invest additional equity.
Mokulele founder Bill Boyer, who has served as president and chief executive officer, said he was pleased the airline was able to recapitalize.
Republic Airways Vice President for Strategic Alliances Scott Durgin will serve as Mokulele's interim president and CEO, with Boyer concentrates on sales and marketing efforts.
Just last month, Mokulele managed to make a loan payment, staving off seizure of its assets and operations by Republic Airways Holdings Inc.
Now I wonder what that means for the current Mokulele pilots.