Saltchuk Declines to Increase Aloha Air Cargo Bid

HONOLULU (KHNL) -- A Seattle-based company has declined to increase its bid for Aloha Air Cargo.

Saltchuk Resources initially bid $13 million to buy the cargo assets.  A second bidder submitted a qualified bid of $13.65 million.

Aloha told Saltchuk the minimum bid for the cargo assets was $20 million.

Saltchuk elected not to increase its bid and terminated its participation in the bidding process.