Hawaiian Airlines loses $36.8M but sees uptick in international travel

Hawaiian Airlines posted a $36.8 million loss in the second quarter but boosted revenue 68.4% as it continued to benefit from strong demand throughout its domestic business and saw a solid recovery in its international network.

Still, the company said overall capacity for the current third quarter will be down approximately 5% to 8% compared to the third quarter of 2019, mostly driven by the delay of the full restoration of its Japan network.

The state’s largest carrier has been trying to restore parts of its international schedule after it was hurt by COVID-19 restrictions. In July it resumed three-times-a-week nonstop service between Auckland, New Zealand, and Honolulu, and has increased frequency between Seoul and Honolulu for the summer.

Separately, Hawaiian said this month it will be ending service between Honolulu and Orlando, Fla., after more than a year of operations to realign its network to better meet strong demand in North America and the resurgence of international flying.

Last quarter, Hawaiian operated at 87% of its 2019 second-quarter system capacity, with 115% for North American flights, 80% for neighbor island routes and 31% for international operations.

Hawaiian Holdings Inc., the parent company of the airline, reported a net loss that was nearly six times its loss of $6.2 million in the year-earlier period. The company’s net loss per share was 72 cents versus a loss of 12 cents a share in the second quarter of 2021.

The company’s loss, adjusted for one-time gains and losses, was $46.1 million, or an adjusted loss of 90 cents a share. That was 1 cent worse than analysts’ forecasts. That compares with an adjusted net loss of $73.8 million, or an adjusted loss of $1.44 a share.

Revenue jumped to $617.5 million from $356.3 million in the year-earlier quarter.

Hawaii’s expense for aircraft fuel, including taxes and delivery, was $226.9 million in the second quarter compared with $83.8 million in the year-earlier period.