November 14, 2017 / 6:59 PM / 10 months ago

Hawaii's Island Air to convert bankruptcy case to liquidation

Hawaiian airline Island Air Inc will seek court approval this week to convert its Chapter 11 bankruptcy to a Chapter 7 liquidation to avoid further loss to the value of its estate after grounding its island-hopping flights with no clear way to restructure.

In court papers filed on Sunday, Island Air said it would work on a transition to Chapter 7 after determining it was incurring operating costs “with no apparent prospects of satisfying all of its post-petition debts.”

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