Hawaiian Airlines flies out of 2009 in the black - Hawaii News Now - KGMB and KHNL

Hawaiian Airlines flies out of 2009 in the black

By Howard Dicus - bio | email

HONOLULU (HawaiiNewsNow) - Hawaiian Holdings Inc., the parent company of Hawaiian Airlines, has posted a profit for the fourth quarter and for full year 2009.

Despite revenues falling before $1.2 billion, Hawaiian managed a $117 million annual profit including $35 million in the fourth quarter. The jet fuel bill, while still consuming a quarter of all revenue, eased for the year, though in the last quarter it was up 10% from year-before levels. Unlike some airlines, Hawaiian has a fuel bill smaller than its payroll.

Hawaiian flew more than 80% full, a higher load factor that its larger rivals, after making a slight cut in capacity while gaining traffic. Hawaiian carries three quarters of interisland air traffic and now has an extensive network of flights to the West Coast including Seattle, Portland, San Francisco, Oakland, Los Angeles and other cities. Hawaiian also flies to Sydney, Manila, Pago Pago and other Pacific destinations.

This year, Hawaiian could see improving traffic as the economy improves, but it will also have higher labor costs after reaching new contract agreements with most of its employees.

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