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Hawaiian posts $50M loss in 2nd quarter

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The parent company of Hawaiian Airlines Inc. reported today a net loss of $50 million, or 99 cents per share, for the second quarter ended June 30.

The loss was due in part to a one-time lease termination expense of $42 million after taxes for the purchase of 15 Boeing 717-200 aircraft previously under lease agreements.

Hawaiian Holdings Inc. posted total operating revenue of $395 million. Excluding the lease termination charge, the company’s net loss was $8 million, or 16 cents per share, compared to net income of $9 million, or 17 cents per share, on operating revenue of $315.9 million in the year-earlier period. 

"In the second quarter we shared the industry’s frustration of seeing the benefits of strong demand undone by the high cost of fuel," said Mark Dunkerley, president and chief executive officer. "The silver lining to these results is that demand of our U.S. domestic services remains healthy and the recovery in bookings from Japan continues to impress having returned to pre-earthquake levels."

 

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