Hawaiian widens net losses in second quarter

Hawaiian Airlines' parent Hawaiian Holdings reported a net loss of $67.6 million in the second quarter of 2024, further widening its losses from last year's $12.3 million in the same financial period. Its operating revenues were up 3.5% to $731.9 million, while expenses climbed 9.9% to $787.3 million. Maintenance, materials and repairs expenses climbed 30.3% to $69.9 million. It reported an operating loss of $55.4 million, a significantly higher loss from last year's second quarter operating loss of $9.6 million. Hawaiian's long-term debt as of June 30, 2024, was approximately 2.1bn. Its total liabilities and shareholders' equity was $4.2bn. Its total assets at the end of the quarter were valued at $4.2bn. Capacity is set to increase between 5.5% and 8.5% in the third quarter, while its RASM is expected to be down 1.5%-4.5%. CASM is forecast to be down 0.8%-3%. Its full year CASM has been revised to be up 0.4%-2.7% - having previously been estimated at an increase of 4.1%-6.3%. Full year capacity was revised down from an increase of 4.5%-7.5% to 4-7% increase. Capital expenditures were also revised down from $500-$550 million to $350-$400 million. The airline is currently cooperating with the US Department of Justice as Alaska Airline's pending acquisition of the airline awaits approval.