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  • Joe Breitfeller

Hawaiian Holdings Reports Third Quarter Net Loss of $9.3 Million or $0.18 per Diluted Share

Hawaiian Holdings has reported a third quarter 2022 net loss of $9.3 million or ($0.18) per share on a year-over-year increase in revenue of 45.7 percent to $509 million. At September 30, 2022, the carrier had $1.7 billion in total liquidity.

Hawaiian Holdings Reports Third Quarter 2022 Financial Results - Courtesy Hawaiian Airlines

On Tuesday (October 25, 2022), Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, reported their third quarter 2022 financial results for the period ending September 30, 2022. The carrier reported a third quarter net loss of 9.3 million or ($0.18) per diluted share on a year-over-year increase in revenue of 45.7 percent to $509 million. Hawaiian’s Q3 revenue per available seat mile (RASM) increased 24.1 percent versus the same period last year to 14.93 cents, while costs per available seat mile (CASM) increased 36.4 percent to 15.00 cents. Costs excluding fuel and other special items (CASM-ex) increased year-over-year by 0.4 percent to 10.32 cents. At September 30, 2022, Hawaiian Holdings had cash, cash equivalents and short-term investments totaling $1.4 billion and an undrawn $235 million revolving credit facility, for total liquidity of $1.7 billion.

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

“We enjoyed strong demand for travel to Hawaiʻi this summer led by our North America routes and are encouraged to see these trends continue into the fall, while the relaxation of travel restrictions in Japan sets the stage for the full restoration of our network in the months ahead. Our competitive position is strong. And above all else we continue to have the best team in the business that has taken on every challenge over the last few years and continues to deliver outstanding service and hospitality.”

Hawaiian closed the third quarter with outstanding debt and finance lease obligations of $1.7 billion, plus an air traffic liability and current frequent flyer deferred revenue of $700 million.

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 93 years and is Hawaiʻi’s largest and longest-serving airline. Hawaiian Airlines offers approximately 130 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 and Tahiti. Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA).

In Trading Wednesday Afternoon (October 26, 2022), shares in Hawaiian Holdings, Inc. (NASDAQ: HA) were 3.54% lower at $14.71/share (1:08 PM EDT).

Source: Hawaiian Airlines

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