Dallas investor Michael Neary and partners Norman Siegal and James Cruce finally said aloha to Aloha Airlines in September. Neary and partners had attempted to acquire the Hawaiian airline through a leveraged buyout (“Raiding the Friendly Skies.” July). The group sold its 415,000 shares of Aloha to Hung Wo Ching, the airline’s chairman, and Sheridan C.F. Ing. its vice chairman, for $27.50 a share after buying it six months earlier for $20.25- that’s a tidy S3,OO8.75O gross profit. “We were disappointed that we couldn’t buy the airline.” Neary says, “’but we are happy with the economics.”
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