Hawaiian Airlines has reported a Q4 net loss of $92.6 million or ($1.81) per diluted share and an adjusted net loss of $70.3M or ($1.37) per share. For FY 2021, the carrier reported a net loss of $144.8M or ($2.85)/share and an adjusted net loss of $383M or ($7.55)/share.
On Tuesday (January 25, 2022), Hawaiian Holdings, Inc., Parent company of Hawaiian Airlines, Inc. reported their fourth quarter and full year 2021 financial results for the period ending December 31, 2021. The carrier reported a fourth quarter 2021 net loss of $92.6 million or ($1.81) per diluted share and an adjusted net loss of $70.3 million or ($1.37) per diluted share. Hawaiian’s fourth quarter revenue increased 231 percent versus Q4 2020 to $494.7 million. For the full year 2021, Hawaiian Airlines reported a net loss of $144.8 million or ($2.85) per diluted share and an adjusted net loss of 383.4 million or ($7.55) per diluted share. The airline’s full year 2021 revenue increased 89 percent to $1.6 billion. The variance between FY2021 net and adjusted net loss is primarily attributable to benefits received from the U.S. Treasury under the second and third extensions of the U.S. Treasury’s Payroll Support Program (PSP2 and PSP3).
In Tuesday’s announcement, Hawaiian Airlines President and CEO, Peter Ingram, said,
“Throughout 2021 the Hawaiian Airlines team has executed a remarkable recovery from the depths of the pandemic. Demand for leisure travel remains resilient as evidenced by strong domestic travel volumes to Hawaiʻi, and the building blocks continue to fall into place for a recovery of international demand in 2022. I am energized every day by the outstanding contributions of my colleagues throughout Hawaiian who have positioned us for a bright future.”
Hawaiian Airlines’ fourth quarter revenue of $494.7 million was down 30 percent versus Q4 2019 on a capacity reduction of 19 percent. For the full year 2021, the airline’s revenue of $1.6 billion was down year-over-two by 44 percent on 29 percent lower capacity. At December 31, 2021, Hawaiian Airlines had liquidity of $2.0 billion including cash, cash equivalents and short-term investments of $1.7 billion and an undrawn revolving credit facility of $235 million. At the end of 2021, the company had outstanding debt and finance lease obligations totaling $1.7 billion and an air traffic liability of $631.2 million.
Hawaiian® Airlines, Hawai’i’s hometown airline, has been the number one U.S. carrier for on-time performance for the past 17 years (2004-2020). The carrier has been in business for 93 years and is Hawaiʻi’s largest and longest-serving airline. Hawaiian Airlines offers approximately 130 flights within the Hawaiian Islands and daily nonstop service to 16 mainland gateways. Additionally, the carrier connects Honolulu with American Samoa, Japan, South Korea, Sydney and Tahiti (service to Auckland, New Zealand remains suspended due to the global COVID-19 pandemic). Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA).
In after hours trading on Tuesday evening (January 25, 2022), shares in Hawaiian Holdings, Inc. (NASDAQ: HA) were flat at $18.40/share (7:14 PM EST).
Source: Hawaiian Airlines
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