For the full year of 2021, Hawaiian Airlines reported total revenue of $1.6 billion, down 44% compared to the full year of 2019, on 29% lower capacity. Total operating expenses were $1.7 billion, and adjusted operating expenses were $1.6 billion. Hawaiian reported EBITDA of $63.4 million and adjusted EBITDA of ($238.7) million.
"Throughout 2021 the Hawaiian Airlines team has executed a remarkable recovery from the depths of the pandemic. Demand for leisure travel remains resilient as evidenced by strong domestic travel volumes to Hawaii, and the building blocks continue to fall into place for a recovery of international demand in 2022” said Peter Ingram, Hawaiian Airlines President and CEO.
For the fourth quarter of 2021, Hawaiian reported total revenue of $494.7 million, down 30% compared to the fourth quarter of 2019, on 19% lower capacity. The company reported total operating expenses of $566.1 million, and adjusted operating expenses of $443.4 million.
As of December 31, 2021, Hawaiian has $2.0 billion in liquidity, including its undrawn $235 million revolving credit facility.
During the period, Hawaiian extended leases for two A330-200 aircraft and amended leases for two other A330-200 aircraft, reducing monthly rent payments. The airline also raised a total of $1.6 billion in capital through a loyalty program financing, an at-the-market equity offering of common stock and
participation in federal Payroll Support Programs and repaid approximately $440.9 million in future debt obligations