Island Air: Filing error overvalues Island Air's assets

The assets of bankrupt interisland carrier Island Air are worth less than previously expected, according to a recently filed supplemental motion by the airline's trustee. The Honolulu-Star Advertiser on Wednesday reported that an earlier bankruptcy court filing mistakenly overstated Island Air's inventory of airplane spare parts, resulting in an overvaluation of its assets. Hawaiian Holdings Inc. (Nasdaq: HA), the parent of Hawaiian Airlines, last week agreed to pay $750,000 for the assets of its...