Hawaiian Holdings Inc, the parent company of Hawaiian Airlines announced that the airlines had a $17.1 million profit during the fourth quarter of 2013. This meant that the company finished the year with a net income of $51.9 million. President and Chief Executive Officer, Mark Dunkerley, stated, "During the first half of the year, there were a lot of extra seats in the U.S. mainland-to-Hawaii market. It turns out there were more seats than there was demand, and that hurt the financial results for all airlines participating in the market. What happened in the second half of the year is that those airlines that put extra seats in took some of those out, and that helped the finances of all the airlines in the market."
Dunkerley stated that Hawaiian Airlines will work on improving capacity numbers for their nine new international routes that they have established over the last three years. Other then adding a new route to Beijing this April, 2014 will be a relatively slow growth year regarding overseas travel. Hawaiian Airlines is also planning to start a new interisland operation called 'Ohana by Hawaiian. This subsidiary of Hawaiian will fly to smaller airports like those found on Lanai and Molokai. Getting 'Ohana off the ground and running will be one of the company's major goals for 2014.
Source: Honolulu Star Advertiser, 1-29-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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