DALLAS — Hawaiian Airlines (HA) has released its financial results for the first quarter of 2024. While the company reported a net loss, CEO Peter Ingram highlighted the positive aspects of the quarter.

Hawaiian Airlines CEO highlighted the strong operational performance and investments in guest experience with the rollout of Starlink WiFi and the arrival of their first Boeing 787 Dreamliner.

The reported net loss for Q1 includes a non-cash adjustment due to a reduction in the company's effective tax rate. However, the company has reportedly generated significant federal and state net operating losses (NOLs) that can be used to reduce future cash tax obligations.

The Honolulu (HNL) based carrier maintained a healthy financial position with unrestricted cash and short-term investments exceeding $897 million and total liquidity of $1.15 billion.

Merger Update, Network Expansion

Hawaiian Holdings shareholders voted in favor of the proposed merger with Alaska Air Group (AS). The merger process is currently on hold for 90 days as required by a timing agreement with the Department of Justice (DOJ).

Hawaiian Airlines recently launched revenue service with its new Boeing 787 Dreamliner. Additionally, HA has announced new flights from Salt Lake City (SLC), and Sacramento (SMF) to Lihu`e (LIH) and Kona (KOA).

Moreover, HA has increased summer service to popular destinations. They will also be adding a fourth daily flight between HNL and Los Angeles (LAX) during the peak summer season.

Cargo Expansion, Future Outlook

Hawaiian Airlines received its second A330-300 freighter from Amazon, further bolstering its cargo operations between New York (JFK) and San Bernardino (SBD).

Despite the net first-quarter loss, HA remains focused on growth and innovation. Investments in new technology, aircraft, and route expansion position the company for gradual growth.