Trustee Statement On Boeing Plan Filing

HONOLULU, February 11, 2004 -- Hawaiian Airlines Trustee Joshua Gotbaum issued the following statement relating to this morning's filing of a Plan of Reorganization by The Boeing Company and the Corporate Recovery Group:

Any proposal to invest in Hawaiian Airlines is a statement of confidence in the airline, its people, and its prospects.

Having just received the proposal, our first task is to review and understand what it offers, and then to discuss it with our creditors. Some items that are important to Hawaiian's future are not spelled out in the document. Others are conditioned on CRG's learning more about Hawaiian, and we will arrange to provide additional information.

We expect the plan filed will serve as a starting point for others that have expressed similar interest in Hawaiian. The task now is to enable other investors to come forward on an informed basis. If a significant interest in Hawaiian is to be sold, competition for the opportunity to purchase such an interest will generate the greatest value to its creditors and other constituencies, while enabling a rapid exit from bankruptcy.