Hawaiian Airlines has announced that their earning have nearly doubled during the second quarter of 2013, thanks to new routes that the airlines has added and reduced competition by other carriers. The company earned 21 cents per share in the quarter, or approximately $11.3 million, which easily beat analysts estimates of 12 cents per share. President and CEO of Hawaiian Airlines, Mark Dunkerley, stated, "We maintained, when all that extra capacity was coming in, that it wouldn't be a success for companies, and indeed it wasn't. We see some pulling back, which is kind of what we anticipated, and I think things are therefore heading in the right direction in terms of balancing supply and demand. 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."
Dunkerley added, "Markets sometimes do well and sometimes do poorly. Last year the neighbor islands and West Coast was performing very poorly, and international was performing very well. This year we've got some improvements on neighbor islands and West Coast flying, and international — chiefly because of the exchange rates — is not doing so well. So we see this all as validation of our strategy of diversifying our route network so we're not overly dependent on one geography."
Source: Honolulu Star Advertiser, 7-24-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
