March 5, 2004
Hawaiian Airline Pilots Union Urges Bankruptcy Court to Select Winning Reorganization Offer, Put Company on Path Toward Success
HONOLULU -- Captain Jim Giddings, Chairman of the Hawaiian Airlines unit of the Air Line Pilots Association, said Friday his membership favors any action by the bankruptcy court that establishes a fair process encouraging multiple investors to submit reorganization plans, and help the company emerge from bankruptcy quickly.
Giddings issued his statement in response to the recent proposal by HAL Bankruptcy Trustee Joshua Gotbaum, who, along with the Official Committee of Unsecured Creditors, has filed a motion with the Court seeking a sales process to select the winning reorganization offer for the carrier.
"We’re for anything that will result in a fair and more transparent selection process," Giddings said. "We believe everyone wants to see the company put this bankruptcy behind us, and to emerge as a stronger, better airline," he said.
"It’s not surprising that a number of parties see the tremendous value in the company, and are now coming forward with proposals. We're confident that a successful plan can be developed, especially given how well Hawaiian has done in recent months," said Giddings.
"The fact that Hawaiian Airlines has enjoyed almost a full year of monthly profits, and continues to have the best on-time performance in the nation, are just two examples of the company’s growing strength and attractiveness as a sound business investment," he added.
"The winning plan, however, must ensure that Hawaiian Airlines pilots – as well as all of the airline’s employees – are treated fairly. Many promises have been made to the pilots regarding their retirement and we expect those promises to be fulfilled," Giddings explained.
"Hawaiian Airlines employees have made sacrifices over the years so that our struggling company could keep flying; those sacrifices and our hard work have made the company the great airline it is today. We expect the company to live up to its commitments, and to take care of all of the employees who have stood by the company during this difficult period," he said.
"We respectfully urge the Court to provide for the release of HAL's financial records so that employees and investors alike can fairly and accurately compare the merits of the competing proposals," he said.
"Hawaiian Airlines pilots are deeply committed to seeing Hawaiian Airlines emerge from bankruptcy quickly, and to working closely with management and other employees to ensure the company’s future success," he said. " We are confident the court will ultimately select the winning plan that will allow us all to work together to build a stronger, better Hawaiian Airlines."
Headquartered in Honolulu, Hawaiian Airlines is the nation’s 12th-largest carrier, with 135 daily flights flown by 300 pilots who operate a fleet of B-717 and B-767 aircraft.
Founded in 1931, ALPA is the world’s oldest and largest pilots’ union, representing 64,000 pilots at 43 airlines in the U.S. and Canada. Visit the ALPA Web site at http://www.alpa.org.
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ALPA CONTACT: Capt. Jim Giddings, (808) 836-2572
Tammy Sumida, Joan Bennet and Associates, Inc. (808) 531 –6087, ext. 3