Adams offers to step down from airline positions HONOLULU (AP) =97 John Adams offered to resign as chairman and chief=20 executive officer of Hawaiian Airlines as part of an effort to stop the=20 possible appointment of an independent trustee to run the financially=20 troubled carrier. The resignation offer was included in a motion filed=20 Wednesday in U.S. Bankruptcy Court, where Judge Robert J. Faris was=20 considering the appointment requested by Boeing Capital Corp., the=20 airline's main aircraft lessor. The airline's creditors committee supports= =20 the move. Adams' resignation was one of a number of concessions the airline= =20 said it would make to address issues raised by Boeing and the committee.=20 Seattle-based Boeing Capital, the financial arm of Boeing Co., has accused= =20 Adams and the airline's board of directors of insider dealings and=20 mismanagement that have led to the carrier's financial hardship. Hawaiian,= =20 which filed for protection from its creditors March 21, has denied any=20 wrongdoing or mismanagement. "While Boeing has said that they want Hawaiian Airlines to remain a=20 customer, the effort they have focused on me is wreaking profound damage on= =20 the company, and I can't allow this to continue," Adams said. "Accordingly,= =20 the board today approved a number of extraordinary steps that address=20 directly each of the concerns that have been raised by Boeing," he said. In= =20 addition to Adams' resignation, the board made a number of other offers,=20 including having Mark B. Dunkerley, the airline's president and chief=20 operating officer, appointed CEO and made a member of the board. Hawaiian=20 has held that having a trustee appointed would place a stigma of failure on= =20 the airline and drive away business at a crucial time for bookings, as well= =20 as delay implementation of what it believes is a sound business plan for=20 saving the airline. Faris has urged the airline and Boeing to continue=20 negotiations to reach an agreement before he issued his decision. The judge= =20 said the appointment of a trustee or an examiner, who would investigate=20 specific transactions, was likely and that he was leaning against=20 Hawaiian's request to reject Boeing's motion completely. "I would gladly=20 accept the appointment of an examiner with the power to bring a cause of=20 action as a much more reasonable and constructive way to resolve issues=20 that have been raised without damaging the business," Adams said. "To do=20 otherwise would be irresponsible to every creditor, employee and customer=20 of Hawaiian Airlines." *************************************************** 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.cso.gov.tt TnT Webdirectory: http://search.co.tt *********************************************************