Hawaiian Airlines parent Hawaiian Holdings reports $36M Q3 profit

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Jason Ubay

Reporter- Pacific Business News

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Hawaiian Holdings Inc., parent company of Hawaiian Airlines, reported a third quarter profit of $35.6 million, or 56 cents per diluted share, compared to a profit of $40.6 million, or 76 cents per diluted share, for the same quarter in 2013.

Honolulu-based Hawaiian Holdings (Nasdaq: HA) also reported adjusted net income, reflecting economic fuel expense, of $9.5 million, or 79 cents per diluted share, in the third quarte, an increase of $12.7 million or 10 cents per diluted share year-over year.

Its total operating revenue for the quarter was $639.5 million, a 6.7 percent increase from the same quarter last year.

"We are pleased with our 35 percent improvement in adjusted net income for the third quarter versus last year," Hawaiian Holdoings President and CEO Mark Dunkerley said in a statement. "Strong demand across each of our main geographies, the impact of several new routes maturing and a favorable cost environment combined in this last quarter to bolster our results.

"Assuming these conditions continue and allowing for the uncertainties of competitor behavior, we look forward to continued improvements in the remainder of the year," he said

Operating revenue per available seat mile increased 4.6 percent to 14.2 cents, and passenger revenue per available seat mile increased 2.2 percent to 12.6 cents.

Hawaiian Holdings reported unrestricted cash, cash equivalents and short-term investments of $582 million.

Jason Ubay covers tourism and finance for Pacific Business News.