International Airlines Group (IAG) has announced an operating loss of 7.426 billion Euros ($9 billion) for the full 2020 financial…
Hawaiian Airlines Records Strong Fourth Quarter Financial Returns
Hawaiian Airlines, owned by Hawaiian Holdings Inc., has posted a strong fourth quarter financial report for 2019, recording a $49.7 million net income, $18.1 million gain compared to the same period in 2018 with a net income of $31.6 million. The pre-tax margin was recorded at 9.6 percent, 3.6 percent up from 2018 and diluted shares for 2019 were also recorded at $1.07 per diluted share.
The overall financial results were, however, a loss compared to the previous year. The company reported an overall net income of $224 million, a $9.2 million loss compared to $233.2 million in 2018, also recording an overall pre-tax margin for the full year at 10.8 percent.
Hawaiian Airlines President and CEO Peter Ingram was full of praise, thanking the airline’s 7,400 employees. The airline carried 11.8 million passengers in 2019.
According to the financial report, the company returned $91.6 million to shareholders, through share repurchases of $68.8 million and $22.8 million paid in dividends. The company had an outstanding debt and finance lease obligation of $764 million.
The airline operates flights to Asia, New Zealand, Australia, Hawaii and the U.S. mainland with its main hub located at Daniel K. Inouye International Airport in Honolulu.
Hawaiian Airlines decided to look east for its further route expansion, starting its second East Coast route to the new five-times-weekly non-stop flights between Boston Logan International Airport and Honolulu as well as new non-stop flights to Japan between Fukuoka Airport and Honolulu offering four-times-weekly services.
More joint ventures followed in 2019 with the airline entering a codeshare agreement with Virgin Australia which will offer travelers in the cities of Australia and New Zealand a range of route networks to Hawaii.
The airline also retired its last Boeing 767 jet in 2019 and also took delivery of six Airbus A321neo with one still on order. It also has orders for ten Boeing 787-9 with the option of adding another ten orders of the same airliner with deliveries scheduled to start in 2021.
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