BUSINESS BRIEFS
Hawaiian stock plunges on news
Advertiser Staff
Shares of Hawaiian Holdings Inc. fell to a seven-month low after the owner of Hawaiian Airlines said passenger yield this quarter would fall about 12 percent compared with last year.
Passenger yield is the amount of revenue per passenger per mile flown. It shrank in the three months to the end of March as competitors spurred the airline to cut fares, the Honolulu-based company said in a filing to the U.S. Securities and Exchange Commission after trading closed yesterday.
Shares of Hawaiian dropped 89 cents, or 21 percent, to $3.35 in American Stock Exchange composite trading.
HONEY SALES IN HAWAI'I FALL 34%
Hawai'i honey sales fell an estimated 34 percent to $1.1 million in 2006, according to the Hawaii Field Office of the National Agricultural Statistics Service. Honey production fell 21 percent to 930,000 pounds.
Production was hurt by six weeks of rainfall from late February through March, which hindered pollen-gathering efforts of honey bees. Producers received an average $1.19 per pound in 2006, down 17 percent from 2005.
CANADIAN AIRLINE TO END ISLE FLIGHTS
Harmony Airways of Canada said it will end its scheduled passenger services in a move that will eliminate the carrier's seven flights a week from Vancouver to Honolulu and Maui.
Harmony said service between Vancouver and Toronto would end March 30, and its Hawai'i routes and other scheduled passenger service would be shut down April 9.
Last month, the airline said it had planned to expand its service to Hawai'i this winter from seven flights a week to 10 weekly flights.
WAL-MART GAVE $599,445 IN ISLES
Wal-Mart Stores Inc., the world's largest retailer, said it gave $599,445 to Hawai'i charities last year.
The donations were part of $201.8 million in cash and in-kind contributions that Wal-Mart gave to charities in the United States in 2006.
