HONOLULU, September 17, 1997 -- Hawaiian Airlines, Inc. (ASE and PE: HA), as one of the airlines serving the islands of Hawaii, will benefit from a two-year moratorium on State of Hawaii landing fees effective September 1, 1997.
Gov. Benjamin J. Cayetano announced the moratorium September 9, 1997. The governor reserves the right to reinstate the fees before the two-year period ends.
State of Hawaii landing fees accounted for approximately 1.6 percent of Hawaiian Airlines' total operating expense in 1996. Based on anticipated operational activity in 1997, the company estimates that the moratorium could generate roughly $6 million in annual savings for the company commencing in September 1997.
The moratorium applies to all airlines serving State of Hawaii airports.
Hawaiian Airlines, Hawaii's first and largest airline, provides scheduled and charter air transportation of passengers, cargo and mail among the islands of Hawaii and between Hawaii and six West Coast gateway cities and two destinations in the South Pacific.
Except for historical information contained herein, the matters discussed in this news release contain forward-looking statements that involve risks and uncertainties. The company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the effect of changing economic conditions, trends in the airline industry, the ability to control costs and expenses, and other risks detailed in the company's continuing reports filed with the Securities and Exchange Commission.