HONOLULU (HawaiiNewsNow) - The jet fuel bill soared at Hawaiian Airlines this summer, but business was up so much that it still managed to post a $30.5 million third quarter profit, same as last year.
Revenue rose 15% from $306 million in Q3 2009 to $352 million in Q3 2010, enough to cover higher labor costs, higher airport landing fees, and a fuel bill - including oil and taxes - of $84 million, greater than the entire payroll, $16 million more than last year.
Based on figures for the first three quarters, Hawaiian's revenue for the year may have topped $1 billion in the past few days.
Passenger revenue for the summer, usually the best quarter for any U.S. airline, was $310 million, up from $269 million a year ago. Cargo revenue, a bellwether for the Hawaii economy, was $23 million, up from $16 million.
"A tenth consecutive quarter of profitability has further strengthened Hawaiian Airlines," said Hawaiian CEO Mark Dunkerley in a statement. "We've taken delivery of new aircraft and are on the doorstep of expansion into Asia."
Hawaiian launches service to Tokyo during the current fourth quarter and Korea service during the first quarter of 2011.