Quantcast

Monday, July 28, 2014         

 Print   Email   Most Popular   Save   Post   Retweet

Hawaiian Airlines' earnings soar

By Dave Segal

POSTED:
LAST UPDATED: 01:55 p.m. HST, Apr 24, 2012



 

The parent of Hawaiian Airlines posted an eightfold increase in first-quarter earnings today as the state’s largest carrier saw strong demand from its long-haul services.

Hawaiian Holdings Inc. had net income of $7.3 million, or 14 cents a share, compared with $855,000, or 2 cents a share, a year ago. The airline’s profit increase was aided by a $5.8 million net gain from fuel-hedging activity. Fuel hedging is a calculated bet against the future price of fuel and allows the company to lock in the price in advance of fuel it will need in the future.

Adjusted for the fuel hedging, Hawaiian had net income of $3.3 million, or 6 cents a share. That beat analysts’ consensus estimate of a loss of 2 cents a share. In the year-earlier period, Hawaiian had an adjusted loss of $3.2 million, or 6 cents a share.

Revenue jumped 19.1 percent to $435.5 million from $365.6 million a year earlier.

Hawaiian’s fuel costs rose 28.3 percent to $140.3 million from $109.4 million  a year ago and represented 33.2 percent of operating expenses. 

The company’s stock rose 3 cents to $5.05 today on the Nasdaq Stock Market. Earnings were announced after the market closed.







 Print   Email   Most Popular   Save   Post   Retweet

IN OTHER NEWS
Breaking News
Blogs
Bionic Reporter
Needing a new knee

Warrior Beat
Monday musings

Small Talk
Burning money

Political Radar
On policy

Warrior Beat
Apple fallout

Wassup Wit Dat!
Can You Spock ‘Em?

Warrior Beat
Meal plan