Hawaiian rules the skies but not first-quarter bottom line
Advertiser Staff
Despite an industry-leading 87.5 percent load factor, Hawaiian Holdings Inc. reported an $11.9 million loss during the first quarter.
FIRST QUARTER
Revenue: $215.2 million, up 1.5 percent from a year ago.
Net loss: $11.9 million.
Loss per share: 25 cents.
Expenses: $231.3 million, up 6.8 percent vs. year ago.
Fuel costs: $59.3 million, up 4.1 percent vs. year ago.
Wages and benefits: $57.9 million, down 0.3 percent vs. year ago.
REASONS
WHAT THEY ARE SAYING
"Intense competition both across the Pacific and between the Islands of our state and some weakness in demand for travel to Hawai'i all put downward pressure on our unit revenues."
Mark dunkerley I President and CEO
WHAT'S NEXT
Analysts expect Hawaiian to lose 66 cents per share this year.
Last year's purchase of new aircraft is allowing Hawaiian to expand routes. In March, the airline resumed daily, year-round service between San Diego and Kahului.
The airline entered a new code-share agreement with Continental Airlines.
