Speaking at a luncheon of the Hawaii Publishers Association today, Aloha Airlines Chief Executive Officer David Banmiller said discussions are under way to turn over the company's cargo unit to a new owner.

Banmiller declined to identify the potential buyer but a person familiar with the deal said that the parent of Seattle-based owner of Young Brothers/Hawaiian Tug & Barge has renewed its interest in the cargo unit. Saltchuk Resources, which bid $13 million for the cargo unit but later walked away from the deal, has been holding talks with Aloha's chief lender GMAC Commercial Finance LLC, the person familiar with the deal said.

The shutdown of Aloha's cargo division on Monday threw more than 300 people out of work and sent retailers and wholesalers scrambling for alternative ways to move their products between islands. Aloha handled 85 percent of the state's interisland air cargo.