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JAAloha Cargo Deal
May 1, 2008
Saltchuk Resources Inc., the parent company of Young Brothers/Hawaiian Tug and Barge, announced that it has approval to seek the purchase of Aloha Airlines Cargo division. Aloha Airlines put the cargo division up for sale after declaring bankruptcy last month. Saltchuk was one of two main bidders for the cargo unit, but the deal fell apart amid a dispute over terms set by Aloha’s main lender, GMAC Commercial Finance.
