Hawaiian posts sharp drop in second quarter

Hawaiian Airlines’ parent Hawaiian Holdings recorded a sharp drop in second-quarter net income, though it still remained in the black with a $9 million profit that compared to the year-ago period's $27.5 million in net income. CEO Mark Dunkerley said the results were “in line” with what HA had expected. “The second quarter was an eventful period as we successfully introduced our first and second A330s into revenue service in June," he said.

Operating revenue rose 8.2% to $315.89 million against a 12.1% increase in expenses to $291.9 million. Operating profit was down 24.3% to $24 million from $31.7 million in the second quarter 2009. It lost $4.9 million on fuel hedges.

The carrier flew 2.11 billion RPMs in the quarter, a 2.7% rise year-over-year, while capacity lifted 1.1% to 2.46 billion ASMs. Load factor increased 1.4 points to 85.6%. Operating unit revenue was up 7% to 12.83 cents and operating CASM increased 10.9% to 11.85 cents.