Airline Also Agrees to Pay Deferred Pilot Bonus
HONOLULU -- Hawaiian Airlines Trustee Joshua Gotbaum and the union representing the company's pilots have jointly requested bankruptcy court approval to resume payments into the pilots' pension plan that were deferred with court permission last year.
“Last fall, as a precaution, the court agreed to defer pension contributions in case we needed the cash,” Gotbaum said. “Now that it's clear we will not have to terminate the plan in order for Hawaiian to survive, we should resume making the contributions we owe. In the interest of working together with the union to reorganize Hawaiian, I felt it best to act now to remove this as a concern for our pilots.”
Altogether, Hawaiian is making more than $10 million in payments, about $7 million to the pilots' pension plan, and about $3.5 million as a retention bonus for pilots that Hawaiian agreed to in 2001.
Gotbaum said he would continue to work with the union to make whatever changes may be necessary to reorganize the company while preserving pilots' security. None of those changes involves terminating the plan, he said. A court hearing has been scheduled for July 16.
Hawaiian's pilots are represented by the Air Line Pilots Association (ALPA).
About Hawaiian Airlines
Hawaiian Airlines, the nation's number one on-time carrier, is recognized as one of the best airlines in America. Business travelers recently surveyed byCondé Nast Traveler rated Hawaiian Airlines as having the best in-flight service and meals of any U.S. carrier. Hawaiian was recently ranked fourth best in the nation overall by Travel + Leisure.
Celebrating its 75th year of continuous service, Hawaiian Airlines is Hawaii's largest and longest-serving airline, and the second largest provider of passenger air service between Hawaii and the mainland U.S. Hawaiian offers nonstop service to Hawaii from more mainland U.S. gateways
than any other airline. Hawaiian also provides approximately 100 daily jet flights among the Hawaiian Islands, as well as service to Sydney, American Samoa and Tahiti.
Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (AMEX and PCX: HA). Since the appointment of a bankruptcy trustee on May 16, 2003, Hawaiian Holdings has had no involvement in the management of Hawaiian Airlines and has had limited access to information concerning the airline.
Additional information on Hawaiian Airlines is available at www.HawaiianAir.com.