RAH Article

meyers9163

Well-Known Member
http://www.indystar.com/article/20090219/BUSINESS/90219014

A financially troubled Hawaiian airliner has paid business partner Republic Airways a belated $300,000 to avoid having the Indianapolis-based carrier seize its planes and other assets.

Bill Boyer, Mokulele's chief executive officer, told the Honolulu Advertiser that it made a $300,000 payment to Republic to avoid default on an $8 million loan.

Republic said Wednesday that Mokulele had until the end of the business day to make the payment or face a potential takeover.


Boyer said that employees agreed to defer paychecks until next week to help the company make its interest payments.

Over the longer term, Boyer said the company is holding talks with outside investors. He said Mokulele may hold a private placement to attract new capital.

Republic has provided daily interisland service under the Mokulele brand since November under a wet-lease agreement in which it provides the aircraft and crew to Mokulele.

The deal, which partially filled the void left by the March 31, 2008 shutdown of Aloha Airlines, called for Republic to provide at least three 70-seat Embraer 170 jets and an $8 million line of credit, the Advertiser reported.

Mokulele, based in Kailua, Kona on the Big Island, has been flying in the Islands since 1998.
 
Is this venture not going very well? One would assume if it were, Mokulele would be able to meet its financial obligations to Republic.
 
Is this venture not going very well? One would assume if it were, Mokulele would be able to meet its financial obligations to Republic.

It started out terrible, but it's getting better. The issue early on was that they were in no ticket search engines (Orbitz, Travelocity, etc.), but they're in there now. I'm surprised (not really) at some of the bitterness in the above posts...Mokulele wanted jet service in the islands and that what we provide for them. If you can't pay your bills, there's gonna be consequences. It's a moot point as they did pay.
 
I'm surprised (not really) at some of the bitterness in the above posts...

Bitterness? ...in the above posts. Plural? Really? How many bitterness post(s) do you see? I see, perhaps 1, maybe.

I'd be the first to agree with you. . .IF. . .I felt there were any bitterness in any of the above postings.

Which ones show signs of bitterness? You know, since you're going to throw that statement out there without referencing such post(s).
 
Bitterness? ...in the above posts. Plural? Really? How many bitterness post(s) do you see? I see, perhaps 1, maybe.

I'd be the first to agree with you. . .IF. . .I felt there were any bitterness in any of the above postings.

Which ones show signs of bitterness? You know, since you're going to throw that statement out there without referencing such post(s).

Not yours, as yours made sense. It's the whole "We're in business to take over airlines and 'steal' their certificates" from some bitter folks around here that gets really, really old. It's easy to see their bitterness, but none the less, it's like a broken record.
 
Not yours, as yours made sense. It's the whole "We're in business to take over airlines and 'steal' their certificates" from some bitter folks around here that gets really, really old. It's easy to see their bitterness, but none the less, it's like a broken record.

Very well. . .:hiya:
 
Stop being so emotional. Who really cares.

God help me... I'm going to use a :yeahthat:

A lot of people don't like your airline for various reasons. It's not that they don't like you (well, they may, I have no idea) but rather your management, right or wrong, is incredibly aggressive in getting flying, often at the expense of other carriers. Like it or not, you HAVE benefited from a lot of other people's bad luck. There's nothing wrong with that per se, but it does put some people on edge.
 
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