Manufacturing Industry
Mesa Air Group settles lawsuit relating to Aloha Airlines
Airline Industry Information, Dec 1, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
Mesa Air Group Inc (Nasdaq: MESA) has announced that it has agreed a settlement with the former controlling shareholder of Aloha Airlines, relating to the Aloha Airlines lawsuit over Mesa's Hawaiian inter-island flight services operated under the go! brand name.
Under the terms of the settlement Mesa will: make a cash payment of USD2m; issue shares of Mesa common stock equal to 10% of its currently outstanding shares; and provide certain Hawaiian inter-island travel benefits to the former employees of Aloha Airlines.
Should the shareholder be able to purchase the 'Aloha' name in upcoming bankruptcy court action it will license the name to Mesa.
((Comments on this story may be sent to aii.feedback@m2.com))
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