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Hawaiian Holdings Inc., the beloved Hawaiian Airlines parent company, has unveiled its second quarter (Q2) financial results for 2023. Its President and CEO, Peter Ingram, took the opportunity to express his gratitude to the devoted team members who continue to provide excellent customer service in an ever-changing operational environment. These commendable results, particularly in the Japanese sector, underline the ongoing resilience of the Hawaiian Airlines brand amidst a challenging global economic landscape.

As of June 30, 2023, Hawaiian Airlines found itself in a healthy financial position, boasting unrestricted cash, cash equivalents and short-term investments worth $1.3 billion. In addition, the company’s liquidity, including its untapped $235 million revolving credit facility, amounted to $1.6 billion. The company reported outstanding debt and finance lease obligations of $1.7 billion, indicating its healthy risk management strategies.

A significant contributor to the overall robust revenue growth of Hawaiian Airlines has been the surge in demand for leisure travel. The North American load factor, which hit a record 90.4%, was this sector’s highest Q2 load factor since 2017. Similarly, the Neighbor Island load factor reached 75.3%, marking the highest for the quarter since 2015. In addition, a 16.2-point increase in the International load factor year over year was noted, spurred by a significant rise in traffic from Japan, contributing to an overall 2.2% revenue increase from Q2 2022. The International revenue witnessed a substantial leap of 160.2% from Q2 2022, backed by a 141.4% boost in capacity.

Significant highlights of Q2 2023 included completing the transition of A330 aircraft maintenance from a vendor-managed services agreement to its internal resources. This shift will allow Hawaiian to have better control over its day-to-day operations and manage costs more effectively as it plans to grow its operations with the introduction of the A330 freighter aircraft.

Furthermore, the quarter marked the resumption of service between Honolulu and Fukuoka, Japan, from April 28, further fostering connections between the two countries. Simultaneously, Hawaiian began its weekly service to Rarotonga on May 20, opening up more travel opportunities between Hawaiian’s 15 gateways on the US Mainland and the Cook Islands.

In the face of robust growth, Hawaiian Airlines didn’t fail to impress with its commitment to excellent customer service and innovative onboard experience. It unveiled the new interior cabin design for the Boeing 787 Dreamliner and its new business class product – the Leihōkū suites. These 34 seats, set to enter service in 2024, embody luxury with their flat beds, privacy doors, and shared double suites, featuring island-inspired sunrise and sunset lighting and evocative design elements.

At the same time, Hawaiian Airlines has continued its investment in leadership, promoting Brent Overbeek to Executive Vice President and Chief Revenue Officer and Avi Mannis to Executive Vice President and Chief Marketing Officer. Lokesh Amaranayaka was appointed Vice President of Airport Operations, strengthening the team’s leadership.

Environmental, social, and corporate governance have been central to Hawaiian Airlines’ strategy. As part of this commitment, the airline invested in United Airlines Ventures Sustainable Flight Fund, aiming to foster the supply of sustainable aviation fuel (SAF). The company also published the 2023 Corporate Kuleana Report, outlining its ambition to achieve net-zero greenhouse gas emissions by 2050, eliminate single-use plastics from cabin service by 2029, and offer more locally sourced food onboard. Further, the report highlighted the airline’s employee diversity, boasting the highest percentage of women pilots among any major U.S. airline.

Hawaiian Airlines continues to invest in the community, donating 34 million HawaiianMiles to support Moananuiākea, the Polynesian Voyaging Society’s 47-month circumnavigation of the Pacific Ocean on the voyaging canoes Hōkūleʻa and Hikianalia.

As we advance, Hawaiian Airlines projects an optimistic Q3 2023 outlook, revealing its expectations for the quarter ending September 30, 2023, compared to the results for September 30, 2022. While the current global economic landscape remains uncertain, the rising demand for leisure travel and Hawaiian Airlines’ commitment to providing exceptional service, investing in leadership, and maintaining a sustainable operational environment positions it firmly for continued success in the quarters ahead.