Aloha Eyes Auction Of Air Cargo Business

Law360, New York (March 28, 2008, 12:00 AM EDT) -- With at least one bidder already lined up, bankrupt Aloha Airlines has asked a judge's approval to auction off its air cargo unit next month.

Aloha filed its emergency motion Thursday in the U.S. Bankruptcy Court for the District of Hawaii in response to a March 24 letter of intent from Saltchuk Resources Inc. that expressed interest in buying the air cargo business and offered $13 million for it.

Aloha believes it is in the best interest of the company and its creditors to complete the...
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