BUSINESS BRIEFS
Carrier expands Big Isle service
Advertiser Staff and News Services
Hawaiian Airlines has added new, midday Honolulu flights to and from Hilo and Kona on the Big Island, in response to customer demand.
Hawaiian's new Flight 138 departs Honolulu for Kona at 11:10 a.m. The return Flight 137 leaves Kona at 12:23 p.m. Flight 260 leaves Honolulu for Hilo at 2:10 p.m.; return Flight 263 leaves Hilo at 3:30 p.m.
The new schedules give Hawaiian 11 daily flights to and from Kona and nine daily flights to and from Hilo.
MORE WAREHOUSE SPACE EXPECTED
Developers plan to build significant new industrial warehouse space in Hawai'i.
Local real estate firm Colliers Monroe Friedlander said more than 900,000 square feet of new industrial property is expected over the next year, but demand from expanding construction, retail and other industries should hold down the vacancy rate, which is at 1.8 percent.
DEAL SEALED ON WARD BUILDING
Hawai'i real estate investment firm The Shidler Group completed its purchase of the First Insurance Building at 1100 Ward Ave. for an undisclosed price.
The 210,000-square-foot building is anchored by Straub Clinic & Hospital and First Insurance Co. of Hawai'i, which signed a new lease that maintains its name on the building through 2017.
FAIRMONT HOTELS REJECTS $1.2B BID
The Fairmont Hotels & Resorts Inc. board rejected Carl Icahn's $1.2 billion bid to take control of the company, calling the offer "inadequate."
Icahn was offering $40 a share for 41 percent of the company through Icahn Partners LP and Icahn Partners Master Fund LP.
Fairmont said the board received written opinions from UBS Securities LLC, Avington International and Scotia Capital Inc. stating the Icahn offer is inadequate.
Fairmont shares rose $1.06, or 2.6 percent, to close at $41.05 yesterday on the New York Stock Exchange.
