Business Report: 5/1/15 - Hawaii News Now - KGMB and KHNL

Business Report: 5/1/15

HONOLULU (HawaiiNewsNow) -

Island Air will cut staff 20% in June. That includes management. Affected employees will be told in the next few days. CEO Dave Pflieger says he tried to negotiate work rule changes - not including pay or benefits - but only one union would consider it. Island Air has canceled all aircraft acquisitions for now but Pflieger says he will proceed with replacing some aging physical plant.

Hotel occupancy eases on Oahu, to 80%, and eases on the Big Island to 62%. But it rises on Maui to 77% and on Kauai to 73%. Room rates mostly lower compared to last year.

More bank profits - American Savings made 13-and-a-half million in the first quarter, more than a million more than last year, partly on new mortgage lending - Territorial Savings made 3-and-a-half million in the first quarter, loan portfolio up more than 7%.

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