Hawaiian Airlines said it lost $50.2 million in the final quarter of 2022 (Q4 2022) and $240.1 million for the year.
The losses were significant improvements on 2021 when it reported a Q4 loss of over $90 million and more than $400 million for the 12 month period.
"We saw continued strong demand in our domestic markets and recovery in our international markets illustrating that Hawaiʻi is a top destination and we are the carrier of choice. I am excited to see what we can accomplish in 2023 as we continue to build a solid foundation for our future," said Peter Ingram, president and chief executive.
The carrier said it saw "robust demand" from the US mainland for leisure travel to its Pacific Ocean island base, with operating revenue for Q4 2022 up 3.2% on the same pre-pandemic period in 2019 but down almost 7% for the year compared to 2019, although it was operating at 91% of 2019 capacity,. with international routes at only 44%.
The carrier said it had unrestricted cash, cash equivalents and short-term investments of $1.4bn, outstanding debt and finance lease obligations of $1.7bn, air traffic liability of $590.8 million and liquidity of $1.6bn, the latter including an undrawn revolving credit facility of $235 million.
The first of 12 787-9 aircraft ordered from Boeing was due for delivery in early 2023, the carrier said, warning that the quarter could prove challenging as it gets to grips with commitments such as the Amazon cargo carriage deal.
Among the operational highlights for the year mentioned by Hawaiian were a deal with Starlink for onboard internet, a deal with Mokulele for bookings, the offer to primary card members of two free checked bags, the signing of a deal with Amazon for it to operate a fleet of ten cargo jets and the agreement forged with pilots in January 2023 on salary and working conditions.