Hawaiian Airlines reported its financial results for the first quarter of 2015. It has a GAAP net income of $25.9 million or 40 cents per diluted share. Its adjusted net income, reflecting economic fuel expense and excluding loss on extinguishment of debt, is $24.7 million or 38 cents per diluted share. That’s an increase of $25.6 million year-over-year.
“Producing these record results for the seasonally weak first quarter demonstrates the growing strength of our business,” Mark Dunkerley, Hawaiian Airlines president and chief executive officer, said. “Low fuel prices and strong demand across our network combined to more than offset the impact of a strengthening U.S. dollar, declining fuel surcharges in some markets and an increase in industry capacity between North America and Hawai’i. Reflecting this performance we have announced a $100 million share repurchase program today. As always, our employees are at the forefront of our successes. Their performance makes our financial success possible and they have my undying thanks.”
In March this year, Hawaiian Air introduced the first of its 18 refurbished Boeing 717 aircraft with a comprehensive interior retrofit and a standard consistent layout of 128 seats. The refurbishment will provide more seats for the peak demand period and eliminate operational complexity arising from different seat counts.
To date, seven aircraft have completed the refurbishment program with all remaining Boeing 717 aircraft in the Company’s fleet expected to be retrofitted by the end of the year. It also added one new A330-200 aircraft under lease financing.
Hawaiian Air has led all U.S. carriers in on-time performance for each of the past 11 years, from 2004 to 2014, as reported by the U.S. Department of Transportation. Consumer surveys by Conde Nast Traveler, Travel + Leisure and Zagat have all ranked Hawaiian the highest of all domestic airlines serving Hawai’i.
Now in its 86th year of continuous service, Hawaiian is Hawaii’s biggest and longest-serving airline, as well as the largest provider of passenger air service from its primary visitor markets on the U.S. mainland.
Hawaiian also provides approximately 160 jet flights daily between the Hawaiian Islands, with a total of more than 200 daily flights system-wide.