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Hawaiian Airlines parent reports $7.8 million net income | The Honolulu Advertiser | Hawaii's Newspaper
Posted on: Thursday, November 10, 2005

Hawaiian Airlines parent reports $7.8 million net income

Advertiser Staff

Hawaiian Holdings Inc., the parent of Hawaiian Airlines, reported a net income of $7.8 million in the third quarter, benefiting from increased visitor traffic.

THE NUMBERS

Revenue: $224.1 million

Net income: $7.8 million, following a $1.8 million loss in the same period last year

Earnings per share: 16 cents

Operating income: $17.9 million

Operating expenses: $206.2 million

Assets: $705.1 million

Liabilities: $289.9 million

REASONS

  • Hawaiian Airlines, which emerged from bankruptcy protection in June, benefited from strong visitor demand as the carrier's planes flew nearly 90 percent full during the quarter.

  • The state's largest airline also commenced daily nonstop service between Honolulu and San Jose, Calif., in September.

  • The airline's operating expenses grew 12.9 percent as fuel costs increased to $54.8 million from the year-earlier quarter's $35.9 million.

    WHAT THEY ARE SAYING

    "We take little comfort in our third-quarter profits, knowing that fuel prices remain high and competition remains intense as we head into a traditionally weaker period of the year."

    Mark Dunkerley
    Hawaiian Airlines chief executive

    WHAT'S NEXT

    Hawaiian Airlines recently revamped its fuel hedging program to offset the rising cost of jet fuel.

    The carrier also hired a new chief financial officer, longtime AMR Corp. executive Peter Ingram.

    The airline is looking to acquire new aircraft to expand its fleet of 11 Boeing 717-200s and 14 767-300 ERs.
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