BUSINESS BRIEFS
HEI stock down 5.7% in one day
Advertiser Staff and News Services
Hawaiian Electric Industries Inc. stock suffered its steepest one-day drop in more than six years.
HEI shares fell $1.31, or 5.7 percent yesterday, to close at $21.70 on the New York Stock Exchange yesterday. The decline was the largest since January 2001, Bloomberg News Service reported.
The parent of Hawaiian Electric Co. and American Savings Bank on Monday reported earnings that were below analysts' expectations.
JETSTAR TO DROP MELBOURNE FLIGHT
Jetstar will drop its direct Melbourne-Honolulu service after just eight months because ticket sales have failed to meet targets set by the discount carrier, according to an Australian newspaper.
The Melbourne Herald Sun said Jetstar will cease its twice-a-week Airbus A330 service Oct. 28. Jetstar passengers booked on Honolulu flights from Melbourne after Oct. 28 will be transferred to Qantas and Jetstar domestic flights to Sydney to board a flight to Hawai'i.
Jetstar launched its Melbourne-Honolulu service on Dec. 29.
The company will continue to fly its three-times-a-week Sydney to Honolulu route.
SEŅOR FROG'S BACK IN BUSINESS
Seņor Frog's in Waikiki reopened yesterday, after resolving a building permit problem that closed the restaurant Thursday five days after it opened at Royal Hawaiian Shopping Center.
The city closed the 520-seat establishment because city building inspectors had not made their final inspection. Some 200 Seņor Frog's employees were affected.
The inspection and a certificate of occupancy were completed yesterday, allowing the restaurant to reopen. An official grand opening is scheduled for Aug. 29.
