DALLAS — Hawaiian Holdings, Inc., the parent company of Hawaiian Airlines (HA), has released its financial results for the second quarter of 2024, revealing ongoing challenges as the airline continues to invest in its future and pursue regulatory clearance for its combination with Alaska Airlines.

The company reported a GAAP net loss of US$67.6 million, or US$1.30 per diluted share, with adjusted figures showing a slightly higher loss of US$71.0 million, or US$1.37 per diluted share. Despite these losses, Hawaiian Holdings saw a 3.5% increase in overall operating revenue compared to the same quarter in 2023, driven by a 4.3% increase in capacity.

Peter Ingram, Hawaiian Airlines President and CEO, highlighted key investments made during the quarter, including the introduction of the first two Boeing 787-9 aircraft to the fleet, the rollout of free high-speed Starlink WiFi across the long-haul narrow-body fleet, and the addition of three new routes to the North America network.

Airways was present las April when HA inaugurated its new flagship aircraft, the Boeing 787-9 Dreamliner, on its Honolulu to San Francisco route. 

The airline's financial position remains stable, with US$1.3 billion in unrestricted cash, cash equivalents, and short-term investments as of June 30, 2024. Total liquidity stands at US$1.5 billion, including an undrawn revolving credit facility of US$235 million.

Other Notable Developments

1. A 6.4% increase in Other Revenue, primarily driven by growth in cargo revenue and freighter operations.
2. The commencement of daily nonstop service between Salt Lake City and Honolulu, as well as new non-stop services from Sacramento to Kona and Lihu'e.
3. The delivery of the third A330-300 freighter from Amazon, which began operations in June 2024.
4. Progress on the Starlink inflight WiFi installation, with the first of 24 A330 aircraft now equipped.

Looking ahead, Hawaiian Holdings provided guidance for the third quarter of 2024, projecting an increase in Available Seat Miles (ASMs) of 5.5% to 8.5% compared to Q3 2023. However, the company expects a slight decline in Operating Revenue per ASM (RASM) of 1.5% to 4.5%.

As Hawaiian Holdings continues to navigate 2024, the company remains focused on its merger with Alaska Airlines (AS), operational improvements, and strategic investments to position itself for future growth and success.