Financial Round Up
Hawaiian doubles Q3 profit
October 23rd 2015
Hawaiian Airlines has reported $78.4 million in adjusted net profit, or $1.29 per diluted share, for the third quarter ended September 30, based on lower fuel prices and robust demand. Read More »
“We’re pleased with our third quarter results and with the outlook for the remainder of the year,” said Hawaiian chief, Mark Dunkerley. “Lower fuel prices and strong demand in each of our geographies is more than making up for the growth in capacity between the U.S. West Coast and Hawaii.”
Meanwhile, Hawaiian plans to install lie-flat business class seats in its A330 fleet in second-quarter 2016, Dunkerley said. As such, the number of seats will drop from 294 to 278, but the carrier expects to sell tickets for more because of the improved product, he continued. “We are confident they will be the best in its segment of the lie-flat market," he said.
Despite the financial success, Dunkerley acknowledged worse operational performance during the quarter after its on-time performance slipped to 81.5%, its worst performance in more than a decade. Dunkerley said this was because more flights and more passengers led to a shortage of gates at Honolulu International Airport, with delays at customs and immigration during peak times at mid-morning, as well as construction work.
