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Article: Hawaiian Holdings Announces Preliminary Reorganization and Emergence from Bankruptcy Plan for Hawaiian Airlines.
- Article from:
- PR Newswire
- Article date:
- March 2, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HONOLULU, March 1 /PRNewswire/ -- Hawaiian Holdings Inc., the parent company of Hawaiian Airlines today announced its preliminary plan for the reorganization of the Airline (HAL), and a vision for the future that includes expansion of the airline's routes.
Presented by Holdings Chairman John Adams, the plan provides for resolution of all outstanding claims against and interests in HAL, and proposes:
* infusing at least $30 million in new capital in return for 50% of the
newly reorganized company
* 40% of the company remains with existing shareholders.
* $160 million dollar unsecured note plus 10% of new stock (at no cost)
to the ...