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February 20, 2009 | 04:33 PM
Well, that didn't take long: Less than a month after trumpeting its maiden flight from Kahului to Honolulu with press invites and fanfare, Mokulele Airlines is teetering on the brink of insolvency. First came an AP report that Mainland-based Republic Airway Holdings was set to step in and seize Mokulele's assets if it failed to make a payment on a maxed-out $8 million credit line. A few hours later, Pacific Business News reported that Mokulele had at least earned a stay of execution by ponying up $300,000. The PBN story also says Mokulele is looking for local "angel investors" and is soliciting money on its Web site: www.mokuleleairlines.com
So what do you say—anyone wanna bankroll a flailing airline? Anyone? Bueller?
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