Hawaiian Airlines Tops Industry Load Factor for March and First Quarter

Revenue Passenger Miles Continue Strong Showing

HONOLULU, April 26, 2004 -- For the third straight month, Hawaiian Airlines finished atop the airline industry for percentage of seats filled, posting an 83.4 percent Load Factor for scheduled systemwide operations in March. For the first quarter, Hawaiian posted an 82.1 percent Load Factor, which also tops the industry.

Hawaiian today released its traffic statistics (see attached chart) for March and first quarter showing the airline continues to produce strong results with its scheduled flight service. The company also realized a big improvement in year-over-year Revenue Passenger Miles (RPMs), and solid growth in Available Seat Miles (ASMs), and number of passengers carried.

“It's exciting the way travelers are responding to our product during what is traditionally a slow travel period for Hawaii,” said Mark Dunkerley, Hawaiian's president and chief operating officer. “We had a tremendous first quarter – our best ever – which is a tribute to our competitive fares, reliable on-time performance, and award-winning in-flight service. Plus, it helps to be the flagship carrier for one of the world's most popular destinations.”

For March alone, according to traffic statistics of 29 airlines compiled by trade publication Aviation Daily, Hawaiian tied with JetBlue for the top spot at 83.4 percent. Rounding out the top five after Hawaiian and JetBlue were: Northwest, 81.6 percent; United, 80.1 percent; Spirit, 78.6 percent; and US Airways, 77.5 percent.

Hawaiian's Load Factor for March represented a year-over-year increase of 9.4 percentage points compared to 74.0 percent in March 2003.

For the first quarter, Hawaiian's 82.1 percent Load Factor placed it alone in first among the nation's carriers. The rest of the top five after Hawaiian were: JetBlue, 79.9 percent; Spirit, 77.8 percent; Northwest, 76.5 percent; and United, 75.2 percent.

Hawaiian's first quarter Load Factor represented an increase of 11.6 percentage points from the 70.5 percent reported from the year prior.

Another good indicator of the company's improvement was a big increase in the all-important category of RPMs. Hawaiian recorded a 23.5 percent jump in March as opposed to March 2003. It also marked Hawaiian's third consecutive month recording a 20-plus percent increase in RPMs, and put the first quarter improvement at 24.2 percent compared to last year.

Hawaiian continued to add seat capacity in March with ASMs increasing by 9.6 percent over March 2003. Overall, first quarter ASMs increased by 6.7 percent over the year prior.

Hawaiian carried nearly 500,000 passengers in scheduled service for March, improving by 3.8 percent compared to March 2003. For the quarter, Hawaiian carried 1.4 million passengers in scheduled service reflecting an overall increase of 3.6 percent.

To view a PDF of operations table for March, click here.

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 byCondé Nast Traveler rated Hawaiian Airlines as having the best in-flight service and meals of any U.S. carrier. Hawaiian was recently ranked fourth best in the nation overall by Travel + Leisure.

Celebrating its 75th year of continuous service, Hawaiian Airlines is Hawaii's largest 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 100 daily jet flights among the Hawaiian Islands, as well as service to 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 on May 16, 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 on Hawaiian Airlines is available at www.HawaiianAir.com.