Hawaiian Holdings, the parent company of Hawaiian Airlines, reported a net loss of $67.6 million, or $1.30 per diluted share, for the second quarter of 2024, compared to a net loss of $12.3 million, or $0.24 per diluted share, in the same period in 2023. Total revenue for the quarter was $731.9 million, up from $706.9 million year-over-year. Passenger revenue increased by 3.3% to $666.0 million, driven by a 4.1% increase in capacity and a 3.8% rise in revenue passenger miles. However, operating loss widened to $55.4 million from $9.6 million in the previous year, primarily due to a $70.8 million increase in operating expenses, including wages, benefits, aircraft fuel, and maintenance. Unrestricted cash, cash equivalents, and short-term investments stood at $1.3 billion as of June 30, 2024, up from $908.5 million at the end of...Show More

Hawaiian Holdings, the parent company of Hawaiian Airlines, reported a net loss of $67.6 million, or $1.30 per diluted share, for the second quarter of 2024, compared to a net loss of $12.3 million, or $0.24 per diluted share, in the same period in 2023. Total revenue for the quarter was $731.9 million, up from $706.9 million year-over-year. Passenger revenue increased by 3.3% to $666.0 million, driven by a 4.1% increase in capacity and a 3.8% rise in revenue passenger miles. However, operating loss widened to $55.4 million from $9.6 million in the previous year, primarily due to a $70.8 million increase in operating expenses, including wages, benefits, aircraft fuel, and maintenance. Unrestricted cash, cash equivalents, and short-term investments stood at $1.3 billion as of June 30, 2024, up from $908.5 million at the end of 2023. The company also incurred $6.5 million in merger-related costs during the quarter. Hawaiian Holdings has entered into a merger agreement with Alaska Air Group, with the merger expected to close within 12 to 18 months of the agreement date. The company's business includes scheduled air transportation of passengers and cargo, with a notable agreement with Amazon to provide air cargo transportation services. Hawaiian Airlines is the largest airline headquartered in Hawaii and the tenth largest domestic airline in the United States by revenue passenger miles. Looking ahead, the company expects ASMs to increase by 5.5% to 8.5% in the third quarter of 2024 compared to the same period in 2023, with RASM projected to be down between 1.5% to 4.5%.