Mesa Settles lawsuit with Hawaiian

mooneyguy · April 30th, 2008, 10:58

NEW YORK (MarketWatch) -- Hawaiian Holdings Inc. (HA:hawaiian holdings inc com
News, chart, profile, more
Last: 7.92+0.02+0.25%

10:33am 04/30/2008

MESA 0.67, +0.12, +20.9%) for a cash payment of $52.5 million. Hawaiian had accused Mesa of using proprietary information, obtained while Hawaiian was in bankruptcy proceedings and seeking investors, to help its subsidiary go! airlines to compete in the Hawaiian market. In addition to the settlement, Mesa will also withdraw its appeal of an $80 million judgment awarded against Mesa by the U.S. bankruptcy court. In a statement, Mesa Air said the settlement doesn't restrict go!'s ability to continue services in the Hawaiian inter-island market. Shares of Mesa jumped 18% to 65 cents a share while Hawaiian shares rose 10.8% to $8.75.
PHOENIX, April 30 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA - News) today announced that it entered into a settlement with Hawaiian Airlines concerning their long-running lawsuit over Mesa's inter-island flight services operated under the go! brand name. Under the terms of the Settlement and without admitting any wrongdoing, Mesa will receive $37.5 million from the Bond the Company previously posted with the United States Bankruptcy Court for the District of Hawaii. Hawaiian Airlines will be entitled to the remaining collateral of the Bond totaling $52.5 million. This settlement does not restrict in any way go!'s ability to continue to offer services in the Hawaiian interisland market

So Mesa get 32.5 million back...thats like a huge payday to them and they keep flying GO

Like i said before its not over til the fat lady sings!

kellwolf · April 30th, 2008, 14:35

Quote:

Originally Posted by mooneyguy

So Mesa get 32.5 million back...thats like a huge payday to them and they keep flying GO

Like i said before its not over til the fat lady sings!

I think they're still a few million short of their loan payment coming due in a month or so.....

WestIndian425 · April 30th, 2008, 16:28

So now they have to deal with Aloha.

SpiraMirabilis · April 30th, 2008, 20:19

I read 37.5 mil back. Which convienantly is how much is due in June.

Bog · May 2nd, 2008, 02:06

Hawaiin probably decided to settle while there was still money to be had.

Wait til next year when the $100 million is due.

April 30th, 2008, 10:58	#1
mooneyguy Senior Member Join Date: Mar 2007 Location: San Antonio TX Posts: 609	Mesa Settles lawsuit with Hawaiian NEW YORK (MarketWatch) -- Hawaiian Holdings Inc. (HA:hawaiian holdings inc com News, chart, profile, more Last: 7.92+0.02+0.25% 10:33am 04/30/2008 MESA 0.67, +0.12, +20.9%) for a cash payment of $52.5 million. Hawaiian had accused Mesa of using proprietary information, obtained while Hawaiian was in bankruptcy proceedings and seeking investors, to help its subsidiary go! airlines to compete in the Hawaiian market. In addition to the settlement, Mesa will also withdraw its appeal of an $80 million judgment awarded against Mesa by the U.S. bankruptcy court. In a statement, Mesa Air said the settlement doesn't restrict go!'s ability to continue services in the Hawaiian inter-island market. Shares of Mesa jumped 18% to 65 cents a share while Hawaiian shares rose 10.8% to $8.75. PHOENIX, April 30 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA - News) today announced that it entered into a settlement with Hawaiian Airlines concerning their long-running lawsuit over Mesa's inter-island flight services operated under the go! brand name. Under the terms of the Settlement and without admitting any wrongdoing, Mesa will receive $37.5 million from the Bond the Company previously posted with the United States Bankruptcy Court for the District of Hawaii. Hawaiian Airlines will be entitled to the remaining collateral of the Bond totaling $52.5 million. This settlement does not restrict in any way go!'s ability to continue to offer services in the Hawaiian interisland market So Mesa get 32.5 million back...thats like a huge payday to them and they keep flying GO Like i said before its not over til the fat lady sings! __________________ FLY SAFE <Tim>< CMEL CSEL CFI CFII http://desiretofly.blogspot.com/

April 30th, 2008, 16:28	#3
WestIndian425 Senior Member Join Date: Jan 2006 Location: KEWR (by way of Brooklyn, NY) Posts: 953	Re: Mesa Settles lawsuit with Hawaiian So now they have to deal with Aloha. __________________ God did not create aircraft pilots to be on the ground.

April 30th, 2008, 20:19	#4
SpiraMirabilis Senior Member Join Date: Jun 2006 Posts: 1,420	Re: Mesa Settles lawsuit with Hawaiian I read 37.5 mil back. Which convienantly is how much is due in June. __________________ Yet Another Turboprop FO*

May 2nd, 2008, 02:06	#5
Bog Senior Member Join Date: Oct 2003 Location: Gilbert, AZ Posts: 1,170	Re: Mesa Settles lawsuit with Hawaiian Hawaiin probably decided to settle while there was still money to be had. Wait til next year when the $100 million is due.

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