Hawaiian Airlines registers Q2 loss
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Hawaiian Airlines has reported a net loss of US$50 million on total operating revenue of US$395 million in the second quarter. Despite the negative results, performance through this period improved on Q2 2010 with operating revenue up 25% yoy and Passenger revenue per available seat mile increase up 5.1%.A large proportion of this loss was inflicted by a lease termination expense of US$70.0 million related to the purchase of 15 Boeing 717-200 aircraft previously operated under lease agreements. Excluding the lease termination charge, the Company reported an adjusted net loss of US$8 million which the company blames on rising fuel costs.Mark Dunkerley, the Company’s President and Chief Executive Officer, said; “In the second quarter we shared the industry’s frustration of seeing the benefits of strong demand undone by the high cost of fuel. The silver lining to these results is that demand of our US domestic services remains healthy and the recovery in bookings from Japan continues to impress having returned to pre-earthquake levels.”
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