Seattle-based Saltchuk Resources said today that it has offered to buy the cargo operations of Aloha Airlines, which filed for Chapter 11...
HONOLULU — Seattle-based Saltchuk Resources said today that it has offered to buy the cargo operations of Aloha Airlines, which filed for Chapter 11 bankruptcy protection last week.
Saltchuk’s bid for the Honolulu-based carrier’s cargo assets, equipment and service lines is the first for any part of Aloha. The offer is subject to the approval of the U.S. Bankruptcy Court.
The amount of the offer was not disclosed and Saltchuk said it was not interested in taking over Aloha’s passenger business.
Saltchuk said it intends to retain as many cargo employees as possible.
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Aloha spokesman Stu Glauberman said the carrier will file a motion to have the bid considered.
“Aloha continues to entertain other bids for all or parts of our business,” he said. “Meanwhile Aloha is operating all of its business segments as usual and plans to continue to do so.”
The Seattle holding company has had a presence in Hawaii since 2000 when it acquired Young Brothers/Hawaiian Tug & Barge. The company in 2006 purchased Hawaii Fuel Network, Maui Petroleum and Minit Stop Stores.
Saltchuk also owns Northern Air Cargo, the largest cargo carrier in Alaska, which uses the same type of aircraft as Aloha.
“We believe our knowledge of Hawaii, coupled with our extensive air cargo operations experience, positions us well to help take Aloha Air Cargo to the next level,” Saltchuk President Tim Engle said in a statement.
Rocked by record fuel prices and a new low-fare competitor in Mesa Air Group’s go! airline, Aloha filed for Chapter 11 on March 20, a little more than two years after emerging from bankruptcy.
A day after filing for bankruptcy protection, the cash-strapped company’s passenger services, air cargo and contract services, which include U.S. mail shipments, were put up for sale.
The airline said in its bankruptcy filing that it was unable to generate sufficient revenue due to what it called “predatory pricing” by Phoenix-based Mesa, which launched go! in 2006 to compete with Aloha and Hawaiian Airlines.
Aloha, the second-largest Hawaii carrier, operates a fleet of 26 Boeing 737s to serve five airports statewide and six mainland U.S. destinations.