Hawaiian Holdings Reports 2013 Second Quarter Financial Results

News Release from Hawaiian Holdings

Second Quarter 2013 Financial Results

-- Adjusted net income, reflecting economic fuel expense, of $12.6 million or $0.24 per diluted share.   

-- GAAP net income of $11.3 million or $0.21 cents per diluted share.   

-- Available seat miles (ASMs) increase of 20.9% year-over-year.   

-- Cost per available seat mile (CASM), excluding fuel, decrease of 11.2% year-over-year.   

-- CASM decrease of 9.7% year-over-year.

Mark Dunkerley, the Company's President and Chief Executive Officer, commented that "Our results for the quarter were better than expected thanks chiefly to some good cost control. Demand across all of our geographies remains strong, even overseas where the dollar has strengthened against foreign currencies. In North America, our business is coming back as the rate of industry capacity growth moderated in the quarter while our Neighbor Island business is now performing well. On our international routes we are seeing the strengthening of the dollar undermine some of the excellent results we have had in the last couple of years but this portion of our business remains the core focus of our expansion plans.

"Everyone in the company worked hard as we continued with the heavy pace of new developments. We inaugurated new routes, we secured financing for future aircraft deliveries on very favorable terms, we implemented new computer systems and completed countless other initiatives. Throughout, my colleagues on the ground and in the air continue to keep us ahead of the field in taking care of our customers safely, efficiently and with the hospitality that is our hallmark."

Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables.

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