Hawaiian Airlines has revised its first-quarter and full-year expectations and adjusted some 2016 and 2017 financial results due to its adoption of a new revenue accounting standard.
The state’s largest carrier said Monday it also expects to take one-time charges in the first quarter of between $35 million and $40 million related to the purchase of three previously leased Boeing 767 aircraft, as well as the cancellation of an order for six Airbus A330-800s.
In its updated guidance, Hawaiian revised upward its outlook for first-quarter operating revenue per available seat mile to a range of 3 to 5 percent from a range of negative 0.5 to positive 2.5 percent. The airline also sees seating capacity rising 4 to 5 percent from its previous guidance of 3 to 5 percent, and sees it cost per available seat mile to be up 4 to 6 percent instead of up 3.5 to 6.5 percent.
Syngenta reaches $1.5B settlement
KANSAS CITY, Mo. >> A $1.5 billion settlement was reached in a class-action lawsuit covering tens of thousands of farmers, grain-handling facilities and ethanol plants that sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed.
Lawsuits in state and federal courts challenged Syngenta’s decision to introduce its modified Viptera and Duracade corn seed strains to the U.S. market for the 2011 growing season before having approval for import by China in 2014. The plaintiffs said Syngenta’s decision cut off access to the large Chinese corn market and caused price drops for several years.
The settlement, reached Monday, must be approved by a federal judge in Kansas. It will create a fund to pay claims by farmers and others who contracted to price corn or corn byproducts after Sept. 15, 2013. If approved, money could be distributed to class members in the first half of 2019.
The settlement does not include the exporters Cargill and ADM, which are also suing Syngenta.
Four lawyers who led the litigation for corn producers said in a joint statement Monday that the settlement is believed to be the largest agricultural litigation settlement in U.S. history.
“America’s corn farmers and related businesses were hurt economically and this settlement will provide fair compensation for their damages,” the attorneys said. “It is an equitable result for all involved.”
ON THE MOVE
The Queen’s Medical Center has named Dr. Matthew Ing as the hospital’s physician adviser. He has nearly 15 years serving as an emergency physician at Queen’s, including being a medical director for its Emergency Department from 2009 to 2014. Besides being a physician adviser, Ing is also president of The Emergency Group.
Central Pacific Bank has announced that Danielle Mills has been appointed to vice president and deputy Compliance Department manager. Mills has 18 years of financial industry experience, including having previously served as an assistant vice president and compliance officer at First Hawaiian Bank.
Liliuokalani Trust has hired Mahina Hugo as its new educational innovations director. Hugo retired from La Pietra, a Hawaii school for girls, where she worked for 25 years while serving in numerous positions, including dean of students, associate admissions director and health and physical education teacher.
