Hawaiian posts $3.9m profit in Q2

Washington DC
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Hawaiian Airlines reports it made $3.9 million in net income in the second quarter, reversing a loss during the same period last year.

The profit was a turnaround from a $50 million loss in the second quarter of 2011.

Hawaiian reports revenue of $484.6 million during the quarter, which is up 22.7% from $395 million during the same period in 2011.

The Honolulu-based carrier posts $29.3 million in operating profit in the quarter compared to a $70.2 million operating loss a year earlier.

The results include a $70 million one-time charge for terminating leases related to 15 Boeing 717-200 aircraft.

Revenue passenger miles increased 16.9% year-on-year to 2.9 billion and available seat miles 16.7% year-on-year to 3.5 billion during the second quarter. Hawaiian's load factor was up 0.1 percentage points to 84%.

Passenger revenue per available seat mile increased 6.1% to 14.98 cents.