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Hawaiian Airlines Reports First Quarter Net Loss of $98.3 Million or $1.91 per Diluted Share

Hawaiian Airlines has reported a net loss of $98.3 million or ($1.91) per diluted share on a year-over-year increase in revenue of 28.4 percent to $612.6 million. At March 31, 2023 the carrier had $1.6 billion in liquidity.

Hawaiian Airlines Airbus A321neo - Courtesy Hawaiian Airlines

On Tuesday (April 25, 2023), Hawaiian Airlines reported their first quarter financial results for the period ending March 31, 2023. The carrier reported a first quarter net loss of $98.3 million or ($1.91) per diluted share on a year-over-year increase in revenue of 28.4 percent to $612.6 million. Hawaiian’s first quarter revenue per available seat mile (RASM) increased 1.27 cents compared to the same period last year to 12.46 cents, while cost per available seat mile (CASM) increased 0.19 cents to 14.85 cents. At March 31, 2023, Hawaiian Holdings had $1.4 billion in unrestricted cash, cash equivalents and short-term investments, as well as an undrawn revolving credit facility of $235 million.

In Tuesday’s announcement, Hawaiian Airlines’ President and CEO, Peter Ingram, said,

“A big mahalo to our team who continue to make us a stronger, better airline. The demand for leisure travel remains strong in the domestic markets we serve, and we see similar conditions in most of our international markets. In recent days, our team completed a significant technology initiative, one of many projects underway in 2023 that position us for a bright future. We look forward to sustaining momentum on these initiatives and returning Hawaiian to profitability.”

Hawaiian® Airlines, Hawai’i’s hometown airline, has been the number one U.S. carrier for on-time performance for the past 18 years (2004-2021). The carrier has been in business for 94 years and is Hawaiʻi’s largest and longest-serving airline. Hawaiian Airlines offers approximately 150 daily flights within the Hawaiian Islands and daily nonstop service to 15 U.S. mainland gateways. Additionally, the carrier connects Honolulu with American Samoa, Japan, Australia, New Zealand, South Korea, Tahiti and the Cook Islands (from May 20, 2023). Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA).

In trading Wednesday afternoon (April 26, 2023), shares in Hawaiian Holdings, Inc. (NASDAQ: HA) were up 1.17% to $8.24/share (12:17 PM EDT).

Source: Hawaiian Airlines


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