Program Produced $8.6 Million in Employee Bonuses Since Last Fall
HONOLULU -- Hawaiian Airlines today paid the last profit sharing bonus, $1.6 million, to employees under the program that was negotiated last year. The company noted that, but for high fuel and other costs, the bonus would have been larger.
“Hawaiian's employees have done a terrific job, providing some of the best, most reliable service in the nation while handling more and more travelers,” said Joshua Gotbaum, Trustee of Hawaiian Airlines. “So it's terrific to be able to share the fruits of those efforts.”
In response to questions from employees about the possibility the program might be continued, Gotbaum said, “Everyone contributes to Hawaiian's success. I think everyone agrees that sharing profits is the right thing to do and should be a part of the next round of negotiations on pay and benefits, whenever those occur.”
Today's payment brings the total in employee profit sharing bonuses to $8.6 million for performance over the past five quarters and concludes the program that Hawaiian and its employees agreed to as part of labor negotiations in early 2003. Under the agreement, 10 percent of the company's operating profits in excess of its quarterly targets were paid out as quarterly bonuses.
About Hawaiian Airlines
Hawaiian Airlines, the nation's number one on-time carrier, is recognized as one of the best airlines in America. Business travelers recently surveyed by Condé Nast Traveler rated Hawaiian Airlines as having the best in-flight service and meals of any U.S. carrier. In addition, Hawaiian is ranked as the nation's fifth best airline overall by Travel + Leisure, ahead of every other carrier flying to Hawaii.
Celebrating its 75th year of continuous service, Hawaiian Airlines is Hawaii's biggest and longest-serving airline, and the second largest provider of passenger air service between Hawaii and the mainland U.S. Hawaiian offers nonstop service to Hawaii from more mainland U.S. gateways than any other airline. Hawaiian also provides approximately 117 daily jet flights among the Hawaiian Islands, as well as service to Australia, American Samoa and Tahiti.
Hawaiian Airlines, Inc., is a subsidiary of Hawaiian Holdings, Inc. (AMEX and PCX: HA). Since the appointment of a bankruptcy trustee in May 2003, Hawaiian Holdings has had no involvement in the management of Hawaiian Airlines and has had limited access to information concerning the airline. Additional information is available at www.HawaiianAir.com.