Hawaiian Airlines Reports Q2 Profit Rise

Hawaiian Airlines reported second-quarter profit growth as lower fuel costs added to its bottom line and demand stayed steady despite the strong US dollar.

The airline increased profit by 79 percent to USD$48.8 million in the quarter. Adjusted for special items, it earned USD$37.5 million.

While total revenue fell 0.8 percent to USD$571 million from a year earlier, Hawaiian's fuel costs fell faster, dropping 35.4 percent to USD$113 million.

The company forecast that operating revenue per available seat mile would fall between 4 and 7 percent in the third quarter compared with the year prior, reflecting lower demand because of the US dollar. Hawaiian expects its capacity will grow between 3 and 5 percent in the same period.

The carrier forecast unit costs excluding fuel to be up between 2.5 and 5.5 percent in the third quarter, and up between 1.5 and 3.5 percent for the full year.