Hawaiian Airlines Announces Q1 2023 Results
Hawaiian Holdings, parent of Hawaiian Airlines (HA), has posted a loss of US$98m for Q1 2023.
Hawaiian Holdings, parent of Hawaiian Airlines (HA), has posted a loss of US$98m for Q1 2023.
DALLAS - Hawaiian Airlines (HA) has become the latest carrier to release its financial results for the first quarter (Q1) of 2023. The parent company Hawaiian Holdings has posted a loss of US$98m. This compares to a loss of US$133 for the same period last year.
Revenue rose by 28.4% to US$613m compared to US$477m last year. Meanwhile, capacity stood at 115% against Q1 2022 levels, with the airline carrying 2.6 million passengers.
This, the airline said, was thanks to the 'continued robust leisure demand from North America' to the Hawaiian Islands and the reintroduction of flights to Japan. The airline has recently announced frequency increases between HNL and Austin (AUS), Boston (BOS), Las Vegas (LAS), Los Angeles (LAX) and Pago Pago (PPG). It also resumed flights from HNL to Fukuoka (FUK).
In an official statement, HA said numerous "challenges" continued to adversely affect the carrier. These include ongoing runway construction work at Daniel K. Inouye International Airport (HNL), which has led to changes to air traffic control protocols, severely impacting the carrier's inter-island operations. These delays, HA said, have 'disrupted Hawaiian's on-time performance, impaired its scheduling, and adversely affected its financial results.' There is also an increase in fuel costs, up some 31% year-on-year.
"A big mahalo to our team who continue to make us a stronger, better airline. The demand for leisure travel remains strong in the domestic markets we serve, and we see similar conditions in most of our international markets," said HA President and CEO Peter Ingram.
"In recent days, our team completed a significant technology initiative, one of many projects underway in 2023 that position us for a bright future. We look forward to sustaining momentum on these initiatives and returning Hawaiian to profitability."
Another challenge for the carrier has been issues around its Airbus A321neo fleet. Five of the fleet of 18 have been grounded due to engine supply chain issues affecting the Pratt & Whitney PW1100G power plants. This has led to substituting its Airbus A330s on some A321 routes, which are less fuel efficient, subsequently having a knock-on effect on fuel costs. These delays have also impacted HA's 2023 summer schedule, leading the airline to be "less aggressive" in its planning.
Later this year, the airline expects to take delivery of the first of 12 Boeing 787-9 Dreamliners. The aircraft is scheduled to enter service in Q1 2024, and three more airframes will arrive by the end of the year.
https://airwaysmag.com/hawaiian-path-to-net-zero/
Featured Image: Hawaiian Airlines Airbus A330-200 (N395HA). Photo: Tony Bordelais/Airways.
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