View Single Post
Old 04-30-2008 | 05:09 AM
  #1  
Spaceman Spliff
Gets Weekends Off
 
Joined: Feb 2008
Posts: 847
Likes: 0
From: 757/767 FO
Default Hawaiian Settles with Mesa for $52.5M

NEW YORK -- Hawaiian Holdings Inc. said Wednesday it has settled a lawsuit against Mesa Air Group Inc. 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.
Reply