Boeing Tries to Oust Top Hawaiian Execs
Boeing Co. said it would ask a federal bankruptcy judge to replace Hawaiian Airlines Inc.'s management in a move the 12th-largest U.S. carrier says could force it to shut down.
U.S. Bankruptcy Judge Robert J. Faris in Honolulu begins a two-day hearing on Boeing’s request for a trustee to supplant Hawaiian’s top management. Boeing said Hawaiian Chairman John W. Adams, whose private investment partnership holds a majority stake in the airline, and other executives have enriched themselves at creditors’ expense.
Honolulu-based Hawaiian sought Chapter 11 protection from creditors March 21 after failing to negotiate $20 million in reductions in aircraft lease costs from Boeing.