Hawaiian Air reports $79.5 million profit
  • Monday, June 17, 2019
  • 79°
Business

Hawaiian Air reports $79.5 million profit

  • BRUCE ASATO / BASATO@STARADVERTISER.COM

    Hawaiian Airlines’ Boeing 767.

Hawaiian Holdings Inc. (HA) on Tuesday reported second-­quarter profit of $79.5 million.

The Honolulu-based company said it had net income of $1.56 per share. Earnings, adjusted for nonrecurring gains, were $1.44 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

The parent company of Hawaiian Airlines posted revenue of $715.4 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $717.8 million.

“Our second quarter performance reflects our continued position as the carrier of choice for Hawai’i,” said Peter Ingram, Hawaiian Airlines president and CEO. “The Hawaiianteam showed their mettle yet again, producing solid financial and operational results in a quarter marked by rising fuel prices, elevated industry capacity, and headline-grabbing volcanic activity on the Big Island of Hawai’i. We generated more revenue and carried more guests than in any second quarter in our history by executing our plan and running a safe and reliable airline. I couldn’t be more proud of my colleagues.”

Hawaiian Holdings shares have decreased roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.35, a fall of 19 percent in the past 12 months.

ON THE MOVE

Hawaiian Islands Land Trust announced that Courtenay O’Connor has been appointed as the new associate executive director of advancement. O’Connor previously served as senior associate director of philanthropy at the Nature Conservancy of Hawaii.

Coldwell Banker Pacific Properties has announced that Susan Hirano is the firm’s independent agent at its Kahala office. Hirano has 17 years’ experience in the real estate industry, including having previously served as a realtor-associate at LIST Sotheby’s International Realty in Honolulu as well as worked at Coldwell Banker Residential Brokerage in Highland Park, Ill.

AHL, formerly Architects Hawaii Ltd., has announced that Katie Stephens will lead the firm’s historic- architecture studio. Stephens has 26 years of experience in historic preservation projects, including serving as a project architect and project manager for Mason Architects since 1992.

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