Saltchuk Buys Aloha's Cargo Business

Law360, New York (May 2, 2008, 12:00 AM EDT) -- Prompted in part by the importunings of Hawaii's senior U.S. senator, a Seattle-based holding company agreed Thursday to acquire the cargo division of Aloha Airlines Inc., the defunct carrier that recently converted its Chapter 11 case into a Chapter 7 liquidation.

Saltchuk Resources Inc. announced it would buy the business only a few days after it backed down from an earlier $13 million bid. The worth of the new deal was not disclosed. Under the agreement, the business was required to be back up and running...
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