Hawaiian Airlines' parent company sees quarterly loss
Advertiser Staff
Hawaiian Holdings Inc., Hawaiian Airlines' parent company, posted a net loss of $26.4 million during the second quarter of 2006 after taking a one-time charge to refinance its debt.
A LOOK AT THE NUMBERS
Revenue: $222.3 million, up 10.2 percent from a year ago.
Net loss: $26.4 million, reversing a $1.4 million profit from a year ago.
Loss per share: 56 cents per share, reversing a 3 cents per share profit.
Total operating expenses: $213.3 million, up 5.8 percent.
Assets: $335.6 million, up 16.7 percent.
REASONS
WHAT THEY ARE SAYING
"During the second quarter we faced two main challenges in the rising price of fuel and the increase in competitor capacity ... We remain keenly focused on efforts to improve revenues and further control our costs."
Mark DunkerleyHawaiian Airlines chief executive officer
WHAT'S NEXT
Hawaiian said it will add 21 round-trip flights a week to the Mainland starting this fall, increasing the total weekly round-trip flights to 116. The company purchased four used Boeing 767-300 jets that will begin flying in the third and fourth quarters.
To save on fuel costs, Hawaiian purchased futures contracts covering 24 percent of its jet fuel requirements for the rest of this year.
The company said it has $173 million in unrestricted cash.
