Hawaiian Airlines posted a loss of $36.8 million in the second quarter, but grew revenue 68.4% as it continued to benefit from strong demand across its domestic business and saw a solid recovery in its international network.
However, the company said overall capacity for the current third quarter will be down approximately 5% to 8% compared to the third quarter of 2019, mainly driven by the delay in the full restoration of its Japanese network.
The state’s largest carrier has tried to restore parts of its international schedule after being hit by the COVID-19 restrictions. In July it resumed nonstop service three times a week between Auckland, New Zealand and Honolulu, and has increased frequency between Seoul and Honolulu for the summer.
Separately, Hawaiian said this month it will end service between Honolulu and Orlando, Fla., after more than a year of operations to realign its network to better meet strong demand in North America and the resurgence of international flights. .
Last quarter, Hawaiian operated at 87% of its second-quarter 2019 system capacity, with 115% on North American flights, 80% on neighboring island routes and 31% on international operations.
Hawaiian Holdings Inc., the airline’s parent company, reported a net loss that was nearly six times its $6.2 million loss in the year-ago period. The company’s net loss per share was 72 cents versus a loss of 12 cents per share in the second quarter of 2021.
The company’s loss, adjusted for one-time gains and losses, was $46.1 million, or an adjusted loss of 90 cents per share. That was 1 cent worse than analysts’ forecasts. That compares to an adjusted net loss of $73.8 million, or an adjusted loss of $1.44 per share.
Revenue rose to $617.5 million from $356.3 million in the previous quarter.
Hawaii’s spending on jet fuel, including taxes and delivery, was $226.9 million in the second quarter compared to $83.8 million in the year-ago period.