Sunday, May 19, 2013
Hawaiian Air earnings double on strength of tax adjustments
POSTED: 11:30 a.m. HST, Feb 01, 2011
LAST UPDATED: 11:33 a.m. HST, Feb 01, 2011
The parent of Hawaiian Airlines doubled its earnings in the fourth quarter helped by nonrecurring tax adjustments.
Hawaiian Holdings Inc. said today that net income was $70.6 million, or $1.36 a share, compared with $35 million, or 66 cents a share, a year ago.
Excluding the tax benefits, the company had net income of $11.3 million, or 21 cents a share, versus $10.5 million, or 20 cents a share, over the same period.
Revenue jumped 15.7 percent to $343.8 million from $297 million.
Aircraft fuel costs gained 27 percent to $89.7 million from the year-earlier period and represented 29.7 percent of operating expenses.
