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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. FIVE)*
HAWAIIAN AIRLINES, INCORPORATED
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(Name of Issuer)
Common
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(Title of Class of Securities)
419849104
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(CUSIP Number)
Leslie J. Weiss, Esq.
Sugar, Friedberg & Felsenthal
30 N. LaSalle Street, Suite 2600
Chicago, Illinois 60602
Illinois 60015
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 1, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The Remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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SCHEDULE 13D
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CUSIP NO. 419849104
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Pax Clearing Company Limited Partnership
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) [ ] (b) [ ]
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3. SEC USE ONLY:
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4. SOURCE OF FUNDS (SEE INSTRUCTIONS):
WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
New York
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NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY --------------------------------------------------------
EACH 8. SHARED VOTING POWER
REPORTING
PERSON WITH None
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9. SOLE DISPOSITIVE POWER
None
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10. SHARED DISPOSITIVE POWER
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
None
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS):
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
BD, PN
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CUSIP NO. 419849104
SCHEDULE 13-D
HAWAIIAN AIRLINES, INCORPORATED
Item 1. Security and issuer:
Hawaiian Airlines, Inc.
3375 Koapaka Street
Suite G-350
Honolulu, HI 96819
Common Stock of Hawaiian Airlines, Inc.
Item 2. Identity and Background:
Pax Clearing Company Limited Partnership, a New York
limited partnership
principal business: Clearing Firm
440 S. LaSalle Street
Suite 3100
Chicago, Illinois 60605
(d) The reporting person has not been involved in any
criminal proceedings.
(e) The reporting person has never been a party to any
civil, judicial or administrative proceeding in
which there has been any finding of any violation
of any federal or state securities laws.
Item 3. Source and Amount of Funds or Other Considerations:
The reporting person no longer owns any securities of the
issuer.
Item 4. Purpose of Transaction:
The reporting person disposed of the securities of the issuer in
connection with the withdrawal from the reporting person of a limited partner.
The securities were transferred to the withdrawing limited partner.
The reporting person does not have any plans or proposals which
relate to or would result in any of the following:
(a) The acquisition of additional securities of the issuer, or
the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any
of its subsidiaries;
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SCHEDULE 13D
CUSIP NO. 419849104
(c) A sale or transfer of a material amount of assets of the
issuer or any of its subsidiaries;
(d) Any material change in the present capitalization or
dividend policy of the issuer;
(e) Any other material change in the issuer's business or
corporate structure;
(f) Changes in the issuer's charter, by-laws, or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person;
(g) A class of securities of the issuer being delisted from a
national securities exchange or ceasing to be authorized to
be quoted in an inter-dealer quotation system of a
registered national securities association;
(h) A class of equity securities of the issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4)
of the Securities Exchange Act of 1934.
Item 5. Interest in Securities of issuer.
(a) The reporting person does not own directly and/or
beneficially any shares of the common stock of the
issuer.
(b) The reporting person does not have the sole power
to dispose or direct the disposition of any shares
of stock of issuer.
(c) The reporting person no longer owns any securities
of the issuer.
(d) N/A
(e) The reporting person ceased to hold more than 5% of
the common stock on January 1, 1998.
Item 6. Contracts, Arrangements, Individuals or Relationship with
Respect to Securities of the issuer: N/A
Item 7. Material to be Filed as Exhibits. N/A
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CUSIP NO. 419849104 PAGE 5 OF 5 PAGES
SCHEDULE 13D
Signature
After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
/s/ Pax Clearing Company Limited Partnership
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By: WBB L.L.C., its general partner
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By: /s/ Jeffrey H. Wolfson
Jeffrey H. Wolfson, Manager
