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Monday, December 10, 2007

Mesa Posts $90M Bond

Mesa posted a $90 million bond to cover the original $80 million award the U.S. Bankruptcy Court in Hawaii ruled be paid Hawaiian Airlines in its successful suit against the regional carriers. The court ruled Mesa violated the terms of a confidentiality agreement with Hawaiian Airlines. The bond amount covers the original judgment, $4.7 million in legal fees, $3.4 million for a year’s worth of interest and $1.9 million for additional costs. Mesa has funded the bond amount from cash on hand and is appealing the ruling. A similar suit by Aloha is scheduled to be heard next spring. Related Story
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