Airline

Hawaiian Airlines reports 1Q

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Hawaiian Airlines reports 1Q

Hawaiian Airlines posted a significant first-quarter loss yesterday of $60.7 million, or $1.25 a share. At this time last year, Hawaiian had a wider loss of $144.4 million, or $3.14 a share. The carrier’s adjusted first-quarter loss this year was $190.6 million, or $3.85 a share. When adjusted for nonrecurring costs, first-quarter diluted earnings were $1.23 a share.

The company reported first-quarter revenue of $182 million. That’s down more than 67% from $559.1 million in revenue in the first quarter of 2020.

Revenue was down 72% compared to the first quarter of 2019, on 49% lower capacity.

Peter Ingram, Hawaiian Airlines president and CEO, stated “Despite the positive evolution of the quarter, our financial performance remains dramatically affected by the pandemic.” Ingram said the carrier began to see a “material improvement” in bookings for its North America routes in mid-January.

For FY2020, Hawaiian lost $510.9 million on revenue of $844.8 million. In 2019, Hawaiian earned $224 million on revenue of $2.8 billion.