HONOLULU –- Hawaiian Airlines reported an operating profit of $1.7 million on revenue of $63.8 million for April 2005, which compares with an operating profit of $7.1 million on revenue of $63.4 million for April 2004.
Joshua Gotbaum, Hawaiian's Trustee, commented, “In a really tough time for airlines, Hawaiian continues to do well. We think that's because Hawaiian combines competitive fares with superior service.”
Hawaiian's monthly operating expenses in April increased 10.3 percent to $62.1 million versus last year. Once again higher fuel costs had the biggest impact, increasing by 45.8 percent to $15.0 million compared to April 2004. Labor costs rose 2.3 percent to $18.9 million.
Hawaiian's Revenue Per Available Seat Mile (RASM) in April declined by 4.5 percent year-over-year, while its Cost Per Available Seat Mile (CASM) increased by 4.6 percent. Adjusted for fuel expenses, CASM decreased by 2.8 percent.
Hawaiian reported net income of $414,000 in April, which compares with $2.4 million in net income for April 2004.
The monthly financial reporting is required as part of Hawaiian's Chapter 11 status, which will conclude when the airline exits bankruptcy on June 1. The complete financial report for April is available online at HawaiianAirlines.com.
About Hawaiian Airlines
Hawaiian Airlines, the nation's number one on-time carrier, is recognized as one of the best airlines in America. Readers of two prominent national travel magazines, Condé Nast Traveler and Travel + Leisure, have both rated Hawaiian as the top domestic airline serving Hawaii in their most recent rankings, and the fifth best domestic airline overall.
Celebrating its 76th year of continuous service, Hawaiian is Hawaii's biggest and longest-serving airline, and the second largest provider of passenger air service between Hawaii and the U.S. mainland. Hawaiian offers nonstop service to Hawaii from more U.S. gateway cities than any other airline. Hawaiian also provides approximately 100 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 responsibility for the management of Hawaiian Airlines and has had limited access to information concerning the airline. Additional information is available at www.HawaiianAir.com.