Quote:
Originally Posted by Excaliber
Aloha airlines, belly up, no warning. 2000 people 'hit the street', pink slip in hand. We got THREE airlines here with barely enough people to support TWO. Mesa Air Group came in with $39 one way fare to the outer islands, down from a $100. The other two followed suit, it became clear over a year ago, SOMEBODY was going down. Who ever ran out of money first, that would be Aloha...
You can bank on it, fares will be back to $100 shortly!
|
Ernie,
Mesa was sued by Hawaiian and won a huge settlement for predatory practices against Mesa. Mesa got caught red handed with internal documents showing that they knew they could not make money at these prices and they had no real business plan, rather their goal was to bankrupt Aloha and Hawaiian in order to take over on their own. I'm no corporate attorney, but in addition to being obviously sleazy, that's apparently illegal as well. Aloha had a suit ready to be heard soon. Even though they went under, the suit will still be heard, and popular legal opinion in the industry says that Aloha (or their creditors) will prevail for another huge settlement. This will probably put Mesa under, which for almost all in the industry other than those working for Mesa is a good thing. Mesa is the pond scum of the industry.