Judge Nixes Bonuses For Aloha Airlines CEO, CFO

Law360, New York (June 16, 2008, 12:00 AM EDT) -- The CEO of bankrupt carrier Aloha Airlines Inc. should not “make a windfall off a collapse of the company,” a bankruptcy judge has ruled, rejecting David Banmiller's request for a bonus of up to $600,000.

U.S. Bankruptcy Judge Lloyd King of the District of Hawaii on Friday denied a motion by Chapter 7 Trustee Dane Field to pay Banmiller and Aloha Chief Financial Officer Jeffrey Kessler a bonus of more than $600,000 each if they could reduce the airline's debt to under $22.75 million from $49...
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