Hawaiian Holdings has reported a second quarter 2022 net loss of $36.8 million or ($0.72) per share and an adjusted net loss of $46.1 million or ($0.90) per share on a 73.3 percent year-over-year increase in revenue to $692 million.
On Tuesday (July 26, 2022), Hawaiian Holdings, Inc. reported their second quarter financial results for the period ending June 30, 2022. The carrier reported a second quarter net loss of $36.8 million or ($0.72) per share and an adjusted net loss of $46.1 million or ($0.90) per share. Hawaiian’s second quarter revenue increased year-over-year by 73.3 percent to $692 million. At June 30, 2022 the company had unrestricted cash, cash equivalents and short-term investments of $1.5 billion, as well as an undrawn revolving credit facility of $235 million, and outstanding debt and lease finance obligations of $1.8 billion. The airline’s air traffic liability at the close of the second quarter totaled $784 million.
In Tuesday’s announcement, Hawaiian Airlines’ President and CEO, Peter Ingram, said,
“Strong demand in our domestic markets has been joined by an encouraging recovery from our international gateways in the second quarter. As we move into the summer travel peak, every indication suggests a continuation of these positive trends. I am extremely proud of our team, who continue to deliver the industry's best reliability and service as we pursue our mission to connect people with aloha.”
During the second quarter, Hawaiian Airlines operated 87 percent of their Q2 2019 pre-pandemic capacity with 115%, 80% and 31% capacity on North American, Neighbor Island and International routes, respectively. Second quarter revenue per available seat mile (RASM) increased year-over-year by 33.8 percent to 15.32 cents, while cost per available seat mile (CASM) increased 45.3 percent compared to Q2 2021 to 15.90 cents.
Hawaiian Airlines has resumed three weekly flights between Auckland and Honolulu, and has also increased summer 2022 seasonal frequencies between Seoul and Honolulu. Starting August 1, 2022, the carrier will also resume service between Daniel K. Inouye International Airport (HNL) and Tokyo Haneda Airport (HND). During August, Hawaiian will also increase frequencies between HNL and Tokyo Narita (NRT) and Osaka Kansai (KIX).
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 16 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 morning (July 27, 2022), shares in Hawaiian Holdings, Inc. (NASDAQ: HA) were down 4.0% to $14.40/share (9:34 AM EDT).
Source: Hawaiian Airlines