04/25/2003 - Updated 08:27 AM ET Hawaiian denies need for trustee HONOLULU (AP) ? Hawaiian Airlines says its major creditor has failed to show a trustee should be appointed to oversee the airline during the its Chapter 11 bankruptcy proceedings. Boeing Capital has said it was concerned Hawaiian wouldn't be able to successfully reorganize if it continues to operate under current management. In its response filed Thursday in U.S. Bankruptcy Court, Hawaiian said the only party whose interest would be served in appointing a trustee would be Boeing Capital. Hawaiian said its current management team has an in-depth knowledge of the airline's operations, as well as an awareness of the dynamics of servicing the islands. "It is doubtful that an appointed trustee would possess these qualifications," Hawaiian told the court. In its motion, Boeing Capital said Hawaiian used more than $30 million it received in federal aid following the Sept. 11, 2001, terrorist attacks to fund its $25 million tender offer that paid shareholders a 31% premium. John Adams, Hawaiian's chairman and chief executive officer, and his affiliates received 69% of that payout, the filing said. The airline responded earlier that the tender offer was separate from the restructuring now necessary for it to survive. "Hawaiian's current management has engaged in no fraud, no dishonesty, no incompetence and no gross mismanagement of the company's affairs ? the specific criteria enunciated...for appointment of a trustee," the airline said in its response. A hearing on Boeing Capital's motion for appointment of a trustee is set for May 6. Hawaiian filed for bankruptcy protection March 21. Boeing Capital has raised the possibility of repossessing its 16 aircraft that are used by Hawaiian. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: http://www.pscutt.com TnT Webdirectory: http://search.co.tt *********************************************************