United will restart direct Chicago flights

United Airlines will resume direct flights to Chicago from Spokane International Airport on June 4, seven months after high fuel costs forced what many local officials said they hoped would be a temporary interruption in service.

The service to Chicago O’Hare International Airport will resume on just a seasonal basis, but Spokane airport spokesman Todd Woodard said that could change if ticket sales are robust.

Harry Sladich, president of the Spokane Regional Convention and Visitors Bureau, said the loss of service to Chicago was devastating, and its resumption a boost to convention sales efforts.

After United two weeks ago announced the renewal of service to San Francisco, also on June 4, Sladich received two requests for information about Spokane from organizations in that city.

Toby Steward, an organizer of January’s U.S. Figure Skating Championships in Spokane, called United’s announcement “gigantic.” Access to the city is critical for skaters, officials and spectators, he said.

Chicago service will be operated by Shuttle America using 70-seat Embraer jets. Eastbound flights will leave Spokane at 2:46 p.m. and arrive in Chicago at 8:06 p.m. Westbound departures leaves Chicago at 12:20 p.m. and arrive in Spokane at 2:12 p.m.

Clearwater Paper’s net earnings drop

Clearwater Paper Co. reported net earnings of $9.7 million for 2008, down from $25.3 million in 2007.

The company spun off from Potlatch Corp. late last year, but reported the results as though Clearwater Paper had been a standalone entity for the entire year, said Gordon Jones, president and CEO. Clearwater is made up of Potlatch’s former pulp-based manufacturing business and its Lewiston sawmill.

Jones said 2008 results were affected by higher costs for energy, fiber, freight and chemicals. Also, the downturn in the housing market led to declines in lumber shipments, he said.

Sandpoint

Intermountain reports fourth-quarter loss

Intermountain Community Bank on Friday reported sharply lower earnings for 2008, and a loss for the fourth quarter as the narrowing margins, credit losses and bad loan reserves stalking all banks took their toll.

For the fourth quarter, the parent of Panhandle State Bank reported a loss of $2.9 million, or 35 cents per share, compared with a profit of $2.8 million, or 32 cents per share, for the 2007 quarter.

Intermountain earned a profit in 2008 of $1.2 million, or 14 cents per share, compared with $9.4 million, or $1.10 per share, for 2007.