News
Hawaiian posts strong third quarter results
October 21st 2016
Honolulu-headquartered Hawaiian Airlines on Tuesday announced a net profit of $102.5 million for the third quarter, up 46% from a net profit of $70 million in the corresponding year-ago period. Read More »
Passenger revenue rose 6.2% year-on-year, with passenger revenue up 1.3% and yield declining 1%. Traffic increased 7.3% on a 4.9% capacity gain. Total operating costs were up 4.4%, despite a 10% drop in fuel costs.
"It's been a great quarter in a good year so far,” Hawaiian Airlines president and CEO, Mark Dunkerley, commented. “Low fuel prices, strong demand in our geographies and moderate industry capacity growth combined to create a positive environment for our business.”
U.S. domestic revenue was up 2.3%, and international revenue gained 1%. Both sectors are expected to see further year-on-year increases in the fourth quarter, with overall revenue forecast to be up by 0.5%-3.5%. Capacity is predicted to increase 3%-5% in the fourth quarter, primarily because of a new Tokyo service, and 3%-4% for the whole year.
Hawaiian noted that it ranked 1st in the U.S. for on-time performance in June and August, and that it began sales for its retrofitted A330s with the new 278-seater configuration featuring 18 lie-flat business and 68 “extra comfort seats” on four international routes with service commencing in December.
