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Hawaiian Airlines CEO Expects Strong Second Half of Year

October 18, 2011 By: Jena Tesse Fox
 


Hawaiian Holdings, Inc., the parent company of Hawaiian Airlines, has reported consolidated net income for the three months that ended September 30, 2011 of $25.6 million, or $0.50 per diluted share, on total operating revenue of $455.9 million, compared to net income of $30.5 million, or $0.59 per diluted share, on total operating revenue of $352.0 million for the three months ended September 30, 2010.

Reflecting economic fuel expense, the company reported an adjusted net income of $30.0 million, or $0.59 per diluted share, compared to adjusted net income of $28.5 million, or $0.55 per diluted share, in the prior year period.

Mark Dunkerley, the company’s president and chief executive officer, commented that “the third quarter marked a return to some better results for our business. Strong demand in each of the major geographies we serve, continued cost control and some small but welcome easing of fuel prices all played a part. Particularly noteworthy has been the return of traffic on our services to Japan. Our results on these routes would qualify as good in any year, let alone the year in which an earthquake and tsunami took such a large human and economic toll.”

He continued, “Despite the drumbeat of depressing news about consumer confidence, we have not seen a waning in forward bookings. If these bookings continue to hold and if the price of oil does not rise in the remaining months of 2011, we expect the second half of the year to look considerably better than the first half.”

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