Republic and Mokuele
 

So whats the latest? have they figured out what they are going to to with the Vans yet? they going to shut them down and just fly the jets? Who is running that place these days:confused:

The program needs a BIG TIME overhaul. I don't know who's in charge, but they are working at a snail's pace. At least do something about that webpage!!!

Shutting down the vans wouldn't be entirely smart... Mokus got a bit of a following for people going to the more out of the way destinations in Hawaii... the jets are what bogged the whole thing down.

RAH put one of our own people in as the new CEO, havent heard a word on what they are going to do with it..I would wait for the next quarterly report.

HONOLULU (AP) - Republic Airways is becoming a 50 percent shareholder of Hawaii-based Mokulele Airlines in a recapitalization deal that will install new management at the interisland carrier.

Thursday's announcement said Indianapolis-based Republic will convert a significant portion of its $8 million loan to Mokulele and invest additional equity.

"We are very pleased we were able to successfully recapitalize our airline thanks to Republic Airways," said Mokulele founder Bill Boyer, who has served as president and CEO. "They've been a terrific partner and their continued support will allow us to realize our dream of nurturing and growing our young airline."

Republic Vice President for Strategic Alliances Scott Durgin will serve as Mokulele's interim president and CEO, with Boyer concentrating on sales and marketing efforts.

"Republic's investment in Mokulele gives it greater financial strength and positions it to compete effectively and continue to grow its expanding base of loyal interisland customers," said Republic CEO Bryan Bedford.

Just last month, Mokulele managed to make a last-minute $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc.

Had Mokulele defaulted on the $8 million loan, Republic said it would come in and operate the carrier.

Boyer said at the time that he was working to clear up Mokulele's financial situation with new capital and investors.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

How about Mokulele keeping the turbine surburbans flying feeder for Republic's E-190 service Honolulu-Kona, Hilo. Hana....