Business Briefs for Monday, August 27, 2012 Island Air completes first step in corporate re-capitalization HONOLULU — Hawaii Island Air Inc. dba Island Air last week announced the successful conclusion of the first step of their corporate re-financing with Kahala
Business Briefs for Monday, August 27, 2012
Island Air completes first step in corporate re-capitalization
HONOLULU — Hawaii Island Air Inc. dba Island Air last week announced the successful conclusion of the first step of their corporate re-financing with Kahala Aviation based in Dublin, Ireland.
This is the first financial step in the company’s New Business Plan (NBP). The details of the transaction are private.
Island Air is wholly owned by Gavarnie Holding LLC and employs 235 employees.
Akaka, Export-Import Bank director host forum for small businesses
HONOLULU — More than 100 local small business owners learned how to increase sales through exporting at a Global Access for Small Business forum last week. The event, which was hosted by Sen. Daniel Akaka and Export-Import Bank Director Patricia M. Loui focused on how U.S. companies can gain a competitive edge in the global marketplace.
“In the crossroads of the Pacific, Hawai‘i is uniquely positioned for global trade,” said Akaka, a senior member of the Senate Committee on Banking, Housing and Urban Affairs. “I organized this forum to help Hawai‘i businesses learn about the government services and products available to help grow their businesses.”
During the forum, Loui gave an overview of Ex-Im Bank’s Small Business Initiative.
The initiative was launched in 2011 with the goal of increasing the number of U.S. small businesses that export American-made goods and services. This is an integral part of President Obama’s National Export Initiative to double U.S. exports by 2015.
Allegiant to offer direct flights to Phoenix starting in February
HONOLULU — Allegiant Travel Co. says it will begin offering nonstop flights from Phoenix to Honolulu starting on Feb. 7.
The new flights announced last week will operate three times a week between Phoenix-Mesa Gateway Airport and Honolulu International Airport.
Las Vegas-based Allegiant says it plans to offer nonstop service from Hawai‘i to nine Mainland cities by February.
In connection with the new non-stop service from Phoenix, the company will offer introductory fares starting at $199 each way for flights purchased by Aug. 28 for travel through April 16, 2013.
The Hawai‘i Tourism Authority estimates the new route will generate $40 million in visitor spending and $4.4 million in tax revenue annually for the state. Authority President and CEO Mike McCartney says it will help create first-time visitors to Hawai‘i.
Clean energy summit deemed a success
HONOLULU — Showcasing the State of Hawai’i’s abilities as a model for innovative clean energy test beds, the Department of Business, Economic Development and Tourism’s (DBEDT) State Energy Office successfully wrapped up its 2012 Asia Pacific Clean Energy Summit and Expo (APCESE) earlier this month in Waikiki.
Approximately 780 attendees representing 19 countries, including the United States, Japan, South Korea, China and Australia, packed the Hawai‘i Convention Center for the three-day conference, which included informative panel discussions, an interactive expo and networking opportunities.
“We strived to focus the summit on providing Hawai‘i-based clean energy projects with business and economic development opportunities by linking them with global partners and investors,” said Richard Lim, director of DBEDT.
The APCESE kicked off with the signing of a Memorandum of Understanding (MOU) between the State of Hawai‘i and the China Council for the Promotion of International Trade (CCPIT) signifying the start of a clean energy investment and deployment program in Hawai‘i.
Interested Hawai‘i clean energy companies can begin the matchmaking process with Chinese investors and developers by filling out the Hawai’i State Energy Office’s online form at energy.hawaii.gov/developer-investor.
APCESE also highlighted the state’s partnership with the New Energy and Industrial Technology Development Organization (NEDO) of Japan on a $37 million smart grid demonstration project on Maui that will position Hawai‘i as an international clean energy leader.
The project is scheduled to begin the installation of an electric vehicle charging control system later this year and become operational in Fall 2013.
The 5th annual Asia Pacific Clean Energy Summit and Expo is tentatively scheduled for Sept. 9-11, 2013, at the Hawai‘i Convention Center.
For more information on the State Energy Office, visit energy.hawaii.gov.
