On March 20th, Aloha Airlines declared bankruptcy and filed for Chapter 11 protection. According to reports, it claimed an inability to generate sufficient revenues from its inter island passenger business due to 'predatory pricing' by Mesa Air Group's go! airline.

Aloha is no stranger to Chapter 11, this being the second time it has declared bankruptcy. This being said, there is reason to believe that it may be the true beginning of the end for this Hawaiian airline. Soooo, if you have already purchased a flight with the airline, you should be good to go. BUT, if you are one of those lucky people who has accumulated a substantial number of points in the AlohaPass frequent flyer program, you better get spending.

While there is a chance that some other airline may effectively buy their miles program just for the member database, there is a good chance that it will be an unattractive buy because the program is so much smaller than the norm and centered predominately on the Hawaiian market.

If you're not feeling lucky and  would prefer to cash out before Aloha goes under, check out  the various ways to redeem your miles with the airline. If you aren't planning a trip to Hawaii in the near future, most of the redemption choices will be virtually useless. But as a last ditch effort, you could stock up on an assortment of Aloha Airlines paraphernalia and hope there's a market for the schwag on ebay after they tank.