A Seattle-based company that operates ocean and air freight subsidiaries today said it has submitted a letter of intent to purchase the cargo business of bankrupt Aloha Airlines for an undisclosed price.

Saltchuk Resources Inc., whose holdings include Young Brothers/ Hawaiian Tug & Barge, said it was interested only in Aloha's cargo business and not its passenger service.

"We believe our knowledge of Hawai'i,coupled with our extensive air cargo operations experience, positions us well to help take Aloha to the next level," Tim Engle, president of Saltchuk Resources, said in a news release.

He said Saltchuk would try to retain as many Aloha Air Cargo employees as possible.

"Our primary concern is for the employees of Aloha Air Cargo and their families. We want to employ as many of the current employees as possible, and to ensure the continuity of excellent service that Aloha Air Cargo's customers have enjoyed for over 20 years," Engle said.

"We don't expect the bankruptcy filing or the sale will impact operations or service in any way,"Engle said. "Our goal is to ensure a smooth transition for both our employees and our customers."

Besides Young Brothers, Saltchuk Resources also owns Northern Air Cargo based in Anchorage, Alaska's largest all-cargo airline.

"We fly the same type of aircraft and perform complementary services throughout Alaska as we will be providing here in Hawai'i. Our knowledge of air cargo operations will aid in our understanding of the needs of the employees, while enabling us to provide a higher level of service to our customers," Engle said.

Saltchuk Resources has been doing business in Hawai'i since 2000 when it acquired Young Brothers/ Hawaiian Tug & Barge.

The company also acquired Hawaii Fuel Network, Maui Petroleum and Minit Stop Stores in 2006.

Aloha Airlines filed for bankruptcy protection last week for the second time in a little more than three years, citing high fuel costs and competition from low-cost carrier go!

Aloha issued a statement in response to the puchase offer: "Today one of Aloha's interested parties announced publicly their intention to acquire our air cargo business. Aloha will file a motion in the U.S. Bankruptcy Court to consider this bid. Aloha continues to entertain other bids for all or parts of our business. Meanwhile Aloha is operating all of its business segments as usual and plans to continue to do so."