Hawaiian Airlines' net profit doubles in 4Q2010

Hawaiian Airlines revenue up 16% - financial highlights:

• Three months ended 31-Dec-2010:
  • Operating revenue: USD343.8 million, +15.7% year-on-year;
  • Operating costs: USD321.4 million, +14.4%;
    • Fuel: USD89.7 million, +27.0%;
    • Labour: USD77.7 million, +11.1%;
  • Operating profit: USD22.4 million, +39.2%;
  • Net profit: USD70.6 million, +101.5%;
  • Passenger traffic (RPMs): +13.2%;
  • Passenger load factor: 85.6%, +1.2 ppt;
  • Passenger yield:
    • Scheduled: USD 13.37 cents, +3.2%;
  • Operating revenue per ASM: USD 12.92 cents, +3.6%;
  • Operating cost per ASM: USD 12.08 cents, +2.5%;
  • Cost per ASM excl fuel: USD 8.71 cents, -1.4%;
• 12 months ended 31-Dec-2010:
  • Operating revenue: USD1310 million, +10.7%;
  • Operating costs: USD1219 million, +13.3%;
    • Fuel: USD323.0 million, +32.4%;
    • Labour: USD297.6 million, +9.1%;
  • Operating profit: USD91.3 million, -15.1%;
  • Net profit: USD110.3 million, -5.5%;
  • Passenger traffic (RPMs): +6.4%;
  • Passenger load factor: 85.5%, +1.6 ppt;
  • Passenger yield:
    • Scheduled: USD 13.33 cents, +4.4%;
  • Operating revenue per ASM: USD 12.91 cents, +6.0%;
  • Operating cost per ASM: USD 12.01 cents, +8.5%;
  • Cost per ASM excl fuel: USD 8.83 cents, +3.2%;
  • Unrestricted cash and cash equivalents: USD285.0 million;
  • Restricted cash: USD5.2 million. [more]

Hawaiian Airlines: "In 2010, our strong financial performance enabled us to start service on two new international routes, take delivery of the first three of 16 new Airbus widebody aircraft and replace our expiring credit facilities on favourable terms. At the start of 2011 we are well positioned to continue to grow into the rapidly developing travel market in Asia," Mark Dunkerley, President and CEO. Source: Hawaiian Airlines, 01-Feb-2010.