Hawaiian Airlines Shows Huge Profit

Hawaiian Airlines announced that they had made a net income of $45.5 million during the third quarter of 2012, which represents a 77.6 percent increase from the $25.6 million that the company had made during the same period a year prior.  According to the president and CEO of Hawaiian Airlines, Mark Dunkerley, opening new routes to various countries in Asia have been the driving force behind their profits. Dunkerley stated, ”Our earnings for the third quarter continue to show the strategy that we’ve been pursuing has been a success.  Hawaiian Airlines has long recognized the need not only to grow, but also to diversify our sources of revenue geographically. The introduction of the new fleet of Airbus A330s has enabled us to put this in practice with our expansion in Asia.”

While Hawaiian Airlines’ international business and domestic business to the mainland United States has been doing well, Mark Dunkerley did admit that their interisland service could be improved from a financial standpoint. Dunkerley stated, ”That market has been a bit of a disappointment to us.  We’ve provided a lot of extra seats but haven’t seen demand grow at the same rate, and that has adversely affected our financial performance. But this is an important part of what we do. We’re absolutely committed to flying between the islands in the state, and it will be a little time before we can calibrate things to where it’s appropriate.”

Bob McAdoo, an analyst with the investment bank Imperial Capital, added, ”They’re doing as good or better than anybody.  They’ve got their own little part of the world they operate out of, and they’ve found a bunch of niches that other people weren’t paying attention to and they’re making it work.”

Source: Honolulu Star Advertiser, 10-24-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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