Hawaiian Airlines posted a loss of $36.8 million in the second quarter but grew revenue 68.4% as the company continued to benefit from strong demand across its domestic operations and posted a solid recovery across its international network.
Still, the company said total capacity for the current third quarter will decrease by about 5% to 8% compared to the third quarter of 2019, mainly due to the delay in the full recovery of its Japanese network.
The state’s largest airline has attempted to restore portions of its international flight schedule after being impacted by COVID-19 restrictions. In July, it resumed three-weekly non-stop service between Auckland, New Zealand and Honolulu and has increased frequency between Seoul and Honolulu for the summer.
Separately, Hawaiian said this month it will be suspending service between Honolulu and Orlando, Fla., after more than a year of operations to rebalance its network to better serve strong demand in North America and the resurgence of international flying.
In its most recent quarter, Hawaiian operated at 87% of its Q2 2019 system capacity, with 115% for North American flights, 80% for neighboring island routes, and 31% for international flights.
Hawaiian Holdings Inc., the airline’s parent company, reported a net loss nearly six times the $6.2 million loss in the year-ago period. The company’s net loss per share was 72 cents versus a loss of 12 cents per share in the second quarter of 2021.
The company’s loss, adjusted for one-time gains and losses, was $46.1 million, or an adjusted loss of 90 cents per share. That was 1 cent worse than analysts’ forecasts. This compares to an adjusted net loss of $73.8 million, or an adjusted loss per share of $1.44.
Revenue increased to $617.5 million from $356.3 million in the year-ago quarter.
Hawaii‘s jet fuel spending, including taxes and shipping, was $226.9 million in the second quarter, compared to $83.8 million in the same period last year.
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