Hawaiian Airlines’ parent Hawaiian Holdings reported a 2016 second-quarter net profit of $79.6 million, up 62.9% from its $48.8 million net profit in theyear-ago quarter.

Hawaiian president and CEO Mark Dunkerley said the 2Q results were driven by “moderate industry capacity through the majority of our network [and] lower fuel costs.”

Second-quarter operating revenue was up 4.1% year-over-year (YOY) to $594.6 million while expenses were down 0.9% YOY to $475.7 million, producing operating income of $118.9 million, up 30% from $91.4 million in operating income for 2Q 2015.

Hawaiian’s unit revenue (RASM) for the quarter was 13.06 cents, up 1.6% YOY.

The airline’s 2Q economic fuel expense, which includes losses from fuel hedging, came to $92.6 million, down 28.3% YOY.

The Honolulu-based carrier’s 2Q traffic increased 7.2% YOY to 3.85 billion RPMs on a 2.5% YOY increase in capacity to 4.55 billion ASMs. Hawaiian’s passenger load factor for the quarter was 84.5%, up 3.79 points YOY. Yield was down 3.2% YOY to 13.48 cents.

Hawaiian took delivery its 23rd Airbus A330 during the quarter under a six-year lease agreement.

During the quarter, the US Department of Transportation (DOT) on May 16 awarded Hawaiian Airlinesthe right to operate between Tokyo Haneda Airport and Honolulu and Kona, Hawaii. DOT approved Hawaiian’s application for the sole nighttime Haneda slot the Japanese government made available for US service. The carrier plans to use the slot to fly to Kona 3X-weekly and Honolulu 4X-weekly.

Looking to the rest of the year, Hawaiian Holdings revised its unit revenue projections, lowering its RASM projection by 1% for the 3Q to 2% growth. For capacity, measured in ASMs, Hawaiian upped its 3Q projection by 4.5% to show 6.5% growth in the 3Q, to 4.66 billion ASMs. For the full year 2016, Hawaiian upped its capacity projection by 3%, to 5% growth for the full-year to 17.73 billion ASMs.

Mark Nensel, mark.nensel@penton.com