Amended plan clears way for Aloha's bankruptcy exit

Aloha Airlines said it expects to emerge from bankruptcy in mid-February, following a bankruptcy court judge's Feb. 2 approval of Aloha and Aloha Airgroup's amended reorganization plan.

"We've cleared all the hurdles and we are hopeful we will have our new funding in mid-February," said David Banmiller, Aloha's president and CEO.

Under the amended plan, The Yucaipa Cos. agreed to increase its investment by $10 million, to $43.25 million. Aloha Aviation Investment Group would contribute $16.82 million and Aloha Hawaii Investors would kick in $2.2 million.