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Extra flights
lift earnings at
Hawaiian Airlines
Lower fuel costs also helped
the carrier reverse a year-ago
loss with a $780,000 profit
By Russ Lynch
Star-Bulletin
Hawaiian Airlines Inc. today reported a first-quarter net profit of $780,000, or 2 cents a
share, a turnaround from a net loss of $1.1 million, or 3 cents a share, a year earlier.
It was Hawaiian's fourth profitable quarter in a row.
The company said the first-quarter rebound came partly because the airline had more seats
available and generated more income from the average seat.
Another reason was lower fuel prices, saving the company $5 million compared with its first-quarter 1998 fuel
expense.
Paul J. Casey, Hawaiian's president and chief executive officer, attributed the improvement to more flights. Among
the expansions was the new Los Angeles-Maui-Kona service that started March 12.
First-quarter operating revenues of $110 million were up 9.7 percent from $100.2 million in the 1998 quarter.
That resulted in a profit from operations alone of $1.5 million in the latest quarter vs. operating
loss of $1.9 million in the 1998 period.
Hawaiian spent $13.8 million on fuel in the first quarter, down from $18.8 million in last year's
first-quarter, which already had a $3 million fuel savings compared with the 1997 quarter.
The airline, which flies mainland-Hawaii and Hawaii-South Pacific routes as well as interisland,
carried 110,000 more passengers in the latest quarter a 9.7 percent increase to a total of 1.3
million, from 1.19 million a year earlier.
Casey said the new Los Angeles-Maui route and a Los Angeles-Tahiti charter business to start in August for
Renaissance Cruises together will add nearly $65 million to Hawaiian's revenues this year.
"As we look out on the year, we are encouraged by strong advance bookings for the second and third quarters,"
he said.
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