Hawaiian Airlines reduced its cash and debt balances during the quarter ending 30 September, reversing increases on both fronts a quarter earlier.
The Honolulu-based carrier had $433.5 million in cash and cash equivalents at the end of the period, which was down 3% from the end of June. It had $286.8 million in cash at the end of September 2011.
Outstanding debt and capital lease obligations were down 1.8% to $674 million from the second quarter. Hawaiian had $402.1 million in debt at the end of September 2011.
Capital expenditure was $41 million during the quarter, says chief financial officer Scott Topping during an earnings call on 23 October. This includes $31 million in aircraft pre-delivery payments.
While Hawaiian did not complete any financing deals during the quarter, it bought two ATR 42 turboprops for about $15 million and closed a $67 million 10-year secured loan for an A330-200 in October.