5 irresistible reasons to fly Alaska Airlines’ First Class & why I’d do it again and again

August 5, 2024
Guest Experience
Shaleese Nuckols
3 min read

Recently, I was upgraded to First Class on Alaska Airlines for the first time. And it truly left me speechless.

From luxury seating with spacious legroom to priority boarding at check-in, these are just a few of the many perks I enjoyed. Here’s why you must try it for yourself:

1. Alaska’s First Class has the most legroom in any U.S. domestic airline. Period.

I immediately noticed how spacious my seat was, and how far I could recline the seat back, allowing my legs to have so much room.  It was nice to settle into spacious, custom-designed RECARO leather seats, that generously recline, with power outlets and up to a 41″ seat pitch* (I checked). Its First Class is done right—with thoughtful touches like footrests, tablet holders and easy-to-reach cup holders—I was flying in luxury.

2. Care is absolutely unparalleled.

Stepping onto the plane and being greeted with a warm smile from flight attendants was just the start. After a few steps, I was able to quickly sit down and get comfortable. The views from First Class had me in awe, looking out of the window spotting Mount Rainier was just an added bonus!

With a dedicated First Class flight attendant always nearby to take care of you, I felt beyond comfortable—from hanging your coat, to sharing flight updates, or serving a refreshing beverage and more, the experience was truly exceptional.

3. Enjoy fresh, local food choices right at your seat.

Shortly after takeoff, flight attendants offered gourmet meals and premium beverages, kindly explaining what each item included. I was pleasantly surprised to receive my drink in a glass cup, elevating the experience to a whole other level. The presentation of my meal was impressive, with well-plated chicken, a side salad and warm bread—the best airplane food I’ve ever had! It was everything that I could need, the sauce for the salad, the butter for the bread, they know what guests want. 😊

Guests can pre-order meals up to 20 hours before their flight on most flights over 670 miles. Offerings include a wide range of local West Coast-inspired ingredients, paired with a curated selection of complimentary beverages.

4. Connection is better than ever.

Alaska’s been upgrading its aircraft to satellite Wi-Fi, which is 20x faster than its basic Wi-Fi—and you can totally tell. I was able to stream a wide range of movies and TV shows to keep me entertained throughout the flight, browse and chat with friends from takeoff through landing with uninterrupted connectivity. Wi-Fi is just $8!

5. First Class Lounge Access.

Although I didn’t get the chance to visit a stunning Alaska lounge (have you seen the one in SFO??), I learned if you’re traveling on a paid First Class or a First Class award ticket* where no single flights exceed 2,000 miles can purchase a discounted Single-Entry Lounge Pass for $30**.

After four hours, my First Class experience ended. Stepping off the plane, I felt incredibly refreshed and ready to continue my day, having enjoyed the very best of what Alaska Airlines First Class has to offer. It’s First Class done right.

Book your First Class Experience today!

Flights with at least 2,000 miles include coast-to-coast, Hawaii and international long-haul flights. Flight distance can be found in the flight details or summary section of an itinerary.
*applies to fares booked in C, D, E, J, or I class.
**Single-Entry Lounge Pass access to an Alaska Lounge location is subject to space availability.

Hawaiian Holdings Reports 2024 Second Quarter Financial Results

July 30, 2024
releases
Hawaiian Airlines
30 min read

HONOLULU , July 30, 2024 /PRNewswire/ — Hawaiian Holdings, Inc. (NASDAQ: HA) (the "Company"), parent company of Hawaiian Airlines, Inc. ("Hawaiian"), today reported its financial results for the second quarter of 2024.

"This quarter we delivered on important investments in the future of our company, including flying the first two Boeing 787-9's in our fleet, rolling out free, high-speed Starlink WiFi across our long-haul narrow body fleet, and adding three new routes to our North America network," said Hawaiian Airlines President and CEO Peter Ingram . "While delivering on those initiatives and prioritizing our return to industry-leading levels of operational performance, we continue to pursue regulatory clearance to complete our combination with Alaska Airlines. I'm grateful to our team for taking on such ambitious challenges and continuing to provide exemplary service to our guests."

Second Quarter 2024- Key Financial Metrics and Results
	GAAP	YoY Change	Adjusted (a)	YoY Change
Net Loss	($67.6M)	($55.3M)	($71.0M)	($46.9M)
Diluted EPS	($1.30)	($1.06)	($1.37)	($0.90)
Pre-tax Margin	(9.2) %	(7.2) pts.	(9.7) %	(5.5) pts.
EBITDA	($17.9M)	($44.0M)	($21.3M)	($32.1M)
Operating Cost per ASM	15.05¢	5.3 %	11.50¢	3.8 %
Operating Revenue per ASM	13.99¢	(0.8) %	N/A	N/A

(a) See Table 4 for a reconciliation of adjusted net loss, adjusted diluted EPS, adjusted pre-tax margin, adjusted EBITDA, and adjusted operating cost per ASM (CASM excluding fuel and non-recurring items) to each of their respective most directly comparable GAAP financial measure.

Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables.

Liquidity and Capital Resources

As of June 30, 2024 , the Company had:

Unrestricted cash, cash equivalents and short-term investments of $1.3 billion
Liquidity of $1.5 billion , including an undrawn revolving credit facility of $235 million
Outstanding debt and finance lease obligations of $2.3 billion

On June 24, 2024 , Hawaiian launched an offer to exchange any and all of its outstanding 5.75% Senior Secured Notes Due 2026 (Old Notes) for 11.00% Senior Secured Notes due 2029 (New Notes) and cash which closed on July 26 , 2024. In exchange for $1,193.7 million of Old Notes, representing 99.5% of Old Notes outstanding, Hawaiian issued $984.8 million in New Notes and paid $204.7 million in cash to existing holders, leaving $6.3 million in Old Notes outstanding.

Revenue Environment

The Company's overall operating revenue for the second quarter of 2024 was up 3.5% from the second quarter of 2023 on 4.3% higher capacity which illustrated steady demand for travel to Hawaiʻi on the majority of its routes.

Other Revenue was up 6.4% compared to the second quarter of 2023 driven primarily by an increase in cargo revenue and activity from its freighter operations.

Merger Update

The Company and Alaska previously entered into a timing agreement with the Department of Justice ("DOJ") in which they agreed not to consummate the merger before 90 days following the date on which both parties have certified substantial compliance with the DOJ's second request for additional information (the "Second Request")
On May 7, 2024 , the Company and Alaska certified substantial compliance with the Second Request. The certification of substantial compliance triggered the start of the 90-day review period
On July 29, 2024 , the Company and Alaska agreed to extend the expiration of the review period expiration from August 5, 2024 , to 12:01 a.m., Eastern time , on August 15, 2024
The Company and Alaska continue to work cooperatively with the DOJ

Second Quarter 2024 Highlights

Operations

Established partnership with Air France Industries KLM Engineering & Maintenance who will be the component support provider for the Company's 787-9 aircraft

Routes and Network

Commenced daily nonstop service between Salt Lake City (SLC) and Honolulu (HNL)
Launched new non-stop service between Sacramento (SMF) and both Kona (KOA) and Lihu'e (LIH)
Took delivery of its third A330-300 freighter from Amazon and commenced operations in June 2024

Guest Experience

Installed Starlink inflight WiFi on the first of its 24 A330 aircraft, with full roll-out across the A330 fleet planned for the coming months following a successful deployment of Starlink on its entire A321neo aircraft fleet

Awards and Recognition

Awarded Cabin Concept of the Year by Onboard Hospitality
Received Best Premium Class Amenities (Extra Comfort Kit) award by Onboard Hospitality
Named as one of U.S. News & World Report's Best Companies to Work For in Hotels, Restaurants and Leisure and In the West categories

Environmental, Social and Corporate Governance

Published the 2024 Corporate Kuleana Report, highlighting Environmental, Social and Governance (ESG) initiatives to fly and grow more sustainably. The Company continues to work toward its goal of achieving net-zero carbon emissions by 2050 through investments in sustainable aviation fuel (SAF) and fleet modernization. In April, Hawaiian inaugurated service with its first fuel-efficient Boeing 787-9 aircraft and received the second of its 12 787-9s on order

Third Quarter 2024 Outlook

The table below summarizes the Company's expectations for the quarter ending September 30, 2024 expressed as an expected percentage change compared to the results for the quarter ended September 30, 2023 . Figures include the expected impacts of the Company's freighter operations, which are not yet expected to be material.

Item	GAAP Third Quarter 2024 Guidance	Non-GAAP Equivalent	Non-GAAP Third Quarter 2024 Guidance
Available Seat Miles (ASMs)	Up 5.5% to up 8.5%
Operating Revenue per ASM (RASM)	Down 4.5% to down 1.5%
Costs per ASM (CASM)	Down 3.0% to down 0.8%	CASM excluding fuel and non-recurring items (a)	Down 1.5% to up 1.5%
Gallons of Jet Fuel Consumed (b)	Up 3.0% to up 6.0%
Average fuel price per gallon, including taxes and delivery (c)	$2.69	Economic Fuel Price per Gallon (a)(b)(c)	$2.71

Full Year 2024 Outlook

The table below summarizes the Company's updated expectations for the full year ending December 31, 2024 expressed as an expected percentage change compared to the results for the year ended December 31, 2023 . Figures include the expected impacts of the Company's freighter operations as more aircraft enter service.

Item	Prior GAAP Full Year 2024 Guidance	Updated GAAP Full Year 2024 Guidance	Non-GAAP Equivalent	Prior Non-GAAP Full Year 2024 Guidance	Updated Non- GAAP Full Year 2024 Guidance
ASMs	Up 4.5% to up 7.5%	Up 4.0% to 7.0%
CASM	Up 4.1% to up 6.3%	Up 0.4% to up 2.7%	CASM excluding fuel and non- recurring items (a)	Up 1.0% to up 4.0%	Up 0.5% to up 3.5%
Gallons of Jet Fuel Consumed (b)	Up 3.0% to up 6.0%	Up 2.5% to up 5.5%
Average fuel price per gallon, including taxes and delivery (c)	$2.80	$2.68	Economic Fuel Price per Gallon (a)(b)(c)	$2.83	$2.71
Capital Expenditures	$500M to $550M	$350M to $400M

(a) See Table 3 and Table 4 for a reconciliation of CASM excluding fuel and non-recurring items and economic fuel price per gallon to each of their respective most directly comparable GAAP financial measures.

(b) Gallons of jet fuel consumed do not include fuel used in the freighter operation, as those expenses are pass-through expenses not born by the Company.

(c) Average fuel price per gallon and economic fuel price per gallon estimates are based on the July 12, 2024 fuel forward curve.

Statistical information, as well as a reconciliation of certain non-GAAP financial measures, can be found in the accompanying tables.

Investor Conference Call

Hawaiian Holdings' quarterly results conference call is scheduled to begin today, July 30, 2024, at 4:30 p.m. Eastern Time ( USA ). The conference call will be broadcast live over the Internet. Investors may access and listen to the live audio webcast on the investor relations section of the Company's website at HawaiianAirlines.com . For those who are not available for the live webcast, a replay of the webcast will be archived for 90 days on the investor relations section of the Company's website.

About Hawaiian Airlines

Now in its 95th year of continuous service, Hawaiian is Hawaiʻi's biggest and longest-serving airline. Hawaiian offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaiʻi and 16 U.S. gateway cities – more than any other airline – as well as service connecting Honolulu and American Samoa , Australia , Cook Islands , Japan , New Zealand , South Korea and Tahiti.

Consumer surveys by Condé Nast Traveler and TripAdvisor have placed Hawaiian among the top of all domestic airlines serving Hawaiʻi. The carrier was named Hawaiʻi's best employer by Forbes in 2022 and has topped Travel + Leisure's World's Best list as the No. 1 U.S. airline for the past two years. Hawaiian has also led all U.S. carriers in on-time performance for 18 consecutive years (2004-2021) as reported by the U.S. Department of Transportation.

The airline is committed to connecting people with aloha by offering complimentary meals for all guests on transpacific routes and the convenience of no change fees on Main Cabin and Premium Cabin seats. HawaiianMiles members also enjoy flexibility with miles that never expire. As Hawai'i's hometown airline, Hawaiian encourages guests to Travel Pono and experience the islands safely and respectfully.

Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA). Additional information is available at HawaiianAirlines.com. Follow Hawaiian's Twitter updates (@HawaiianAir), become a fan on Facebook (Hawaiian Airlines), and follow us on Instagram (hawaiianairlines). For career postings and updates, follow Hawaiian's LinkedIn page.

For media inquiries, please visit Hawaiian Airlines' online newsroom.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company's current views with respect to certain current and future events and financial performance. Such forward-looking statements include, without limitation, the roll-out of Starlink WiFi across the A330 fleet in the coming months; statements related to the pending merger with Alaska Air Group; the Company's outlook for the quarter ending September 30, 2024 and twelve-months ending December 31, 2024 ; statements regarding the Company's future performance; and statements as to other matters that do not relate strictly to historical facts or statements of assumptions underlying any of the foregoing. Words such as "expects," "anticipates," "projects," "intends," "plans," "believes," "estimates," variations of such words, and similar expressions are also intended to identify such forward-looking statements. These forward-looking statements are and will be subject to many risks, uncertainties and assumptions relating to the Company's operations and business environment, all of which may cause the Company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements.

The Company is subject to risks, uncertainties and assumptions that could cause the Company's results to differ materially from the results expressed or implied by such forward-looking statements, including the risks, uncertainties and assumptions discussed from time to time in the Company's public filings and public announcements, including the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. All forward-looking statements included in this document are based on information available to the Company on the date hereof. The Company does not undertake to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.

Table 1.
Hawaiian Holdings, Inc.
Consolidated Statements of Operations (unaudited)

	Three Months Ended June 30,			Six months ended June 30,
	2024	2023	% Change	2024	2023	% Change
	(in thousands, except per share data)
Operating Revenue:
Passenger	$ 666,029	$ 644,992	3.3 %	$ 1,249,477	$ 1,193,518	4.7 %
Other	65,876	61,936	6.4 %	127,995	126,013	1.6 %
Total	731,905	706,928	3.5 %	1,377,472	1,319,531	4.4 %
Operating Expenses:
Wages and benefits	265,024	237,680	11.5 %	526,959	479,613	9.9 %
Aircraft fuel, including taxes and delivery	179,153	166,380	7.7 %	367,931	364,005	1.1 %
Maintenance, materials and repairs	69,897	53,657	30.3 %	140,868	103,943	35.5 %
Aircraft and passenger servicing	47,854	43,126	11.0 %	93,278	85,658	8.9 %
Depreciation and amortization	35,068	33,348	5.2 %	68,035	66,015	3.1 %
Aircraft rent	29,891	26,159	14.3 %	59,597	54,330	9.7 %
Commissions and other selling	29,068	28,391	2.4 %	57,511	56,630	1.6 %
Other rentals and landing fees	45,011	41,487	8.5 %	88,138	80,207	9.9 %
Purchased services	39,025	37,181	5.0 %	77,500	72,254	7.3 %
Special items	6,497	—	100.0 %	14,979	—	100.0 %
Other	40,804	49,099	(16.9) %	86,709	83,884	3.4 %
Total	787,292	716,508	9.9 %	1,581,505	1,446,539	9.3 %
Operating Loss	(55,387)	(9,580)	478.2 %	(204,033)	(127,008)	60.6 %
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(28,324)	(22,705)		(52,393)	(45,585)
Interest income	11,134	13,539		21,155	30,004
Capitalized interest	2,541	1,945		5,675	3,404
Losses on fuel derivatives	(1,863)	(3,658)		(2,445)	(8,724)
Other components of net periodic benefit cost	(927)	(1,707)		(1,854)	(3,201)
Losses on investments, net	(654)	(3,549)		(184)	(2,852)
Gains on foreign debt	6,470	12,174		14,989	14,434
Other, net	(584)	(920)		(1,354)	(764)
Total	(12,207)	(4,881)		(16,411)	(13,284)
Loss Before Income Taxes	(67,594)	(14,461)		(220,444)	(140,292)
Income tax expense (benefit)	—	(2,126)		(15,285)	(29,700)
Net Loss	$ (67,594)	$ (12,335)		$ (205,159)	$ (110,592)
Net Loss Per Share
Basic	$ (1.30)	$ (0.24)		$ (3.95)	$ (2.15)
Diluted	$ (1.30)	$ (0.24)		$ (3.95)	$ (2.15)
Weighted Average Number of Common Stock Shares Outstanding:
Basic	51,932	51,587		51,885	51,547
Diluted	51,932	51,587		51,885	51,547

Hawaiian Holdings, Inc.
Consolidated Balance Sheet

	June 30, 2024 (unaudited)	December 31, 2023
	(in thousands, except shares)
ASSETS
Current Assets:
Cash and cash equivalents	$ 510,463	$ 153,273
Restricted cash	17,250	17,250
Short-term investments	745,609	755,224
Accounts receivable, net	110,835	105,858
Income taxes receivable	2,719	669
Spare parts and supplies, net	70,627	60,115
Prepaid expenses and other	79,403	78,551
Total	1,536,906	1,170,940
Property and equipment, less accumulated depreciation and amortization of $1,192,373 and $1,150,529 as of June 30, 2024 and December 31, 2023, respectively	2,199,989	2,013,616
Other Assets:
Assets held-for-sale	1,072	1,135
Operating lease right-of-use assets	371,519	413,237
Long-term prepayments and other	119,771	121,097
Intangible assets, net	13,500	13,500
Total Assets	$ 4,242,757	$ 3,733,525
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$ 200,837	$ 199,223
Air traffic liability and current frequent flyer deferred revenue	793,010	633,345
Other accrued liabilities	172,735	175,591
Current maturities of long-term debt, less discount	131,824	43,857
Current maturities of finance lease obligations	8,883	10,053
Current maturities of operating leases	74,640	83,332
Total	1,381,929	1,145,401
Long-Term Debt	2,068,129	1,537,152
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	54,012	60,116
Noncurrent operating leases	267,103	303,119
Accumulated pension and other post-retirement benefit obligations	144,011	140,742
Other liabilities and deferred credits	83,705	77,154
Noncurrent frequent flyer deferred revenue	296,336	308,502
Deferred tax liability, net	53,024	65,914
Total	898,191	955,547
Commitments and Contingencies
Shareholders' Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of June 30, 2024 and December 31, 2023	—	—
Common stock, $0.01 par value per share, 52,007,495 and 51,824,362 shares outstanding as of June 30, 2024 and December 31, 2023, respectively	520	518
Capital in excess of par value	296,077	293,797
Accumulated loss	(324,897)	(119,738)
Accumulated other comprehensive loss, net	(77,192)	(79,152)
Total	(105,492)	95,425
Total Liabilities and Shareholders' Equity	$ 4,242,757	$ 3,733,525

Hawaiian Holdings, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)

	Six months ended June 30,
	2024	2023
	(in thousands)
Net cash (used in) provided by Operating Activities	$ (26,868)	$ 111,662
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(256,980)	(169,354)
Proceeds from the disposition of aircraft and aircraft related equipment	130	19,863
Purchases of investments	(232,113)	(202,037)
Proceeds from sales and maturities of investments	247,537	275,312
Net cash used in investing activities	(241,426)	(76,216)
Cash flows from Financing Activities:
Long-term borrowings	663,900	—
Repayments of long-term debt and finance lease obligations	(28,258)	(36,142)
Debt issuance costs and discounts	(9,928)	—
Payment for taxes withheld for stock compensation	(230)	(1,113)
Net cash provided by (used in) financing activities	625,484	(37,255)
Net increase (decrease) in cash and cash equivalents	357,190	(1,809)
Cash, cash equivalents, and restricted cash – Beginning of Period	170,523	246,620
Cash, cash equivalents, and restricted cash – End of Period	$ 527,713	$ 244,811

Table 2.
Hawaiian Holdings, Inc.
Selected Consolidated Statistical Data (unaudited)

	Three months ended June 30,			Six months ended June 30,
	2024	2023	% Change	2024	2023	% Change
	(in thousands, except as otherwise indicated)
Scheduled Operations:
Revenue passengers flown	2,785	2,801	(0.6) %	5,405	5,394	0.2 %
Revenue passenger miles (RPM)	4,511,948	4,346,815	3.8 %	8,584,421	8,190,876	4.8 %
Available seat miles (ASM)	5,219,132	5,014,251	4.1 %	10,268,730	9,928,870	3.4 %
Passenger revenue per RPM (Yield)	14.76 ¢	14.84 ¢	(0.5) %	14.56 ¢	14.57 ¢	(0.1) %
Passenger load factor (RPM/ASM)	86.5 %	86.7 %	(0.2) pts.	83.6 %	82.5 %	1.1 pts.
Passenger revenue per ASM (PRASM)	12.76 ¢	12.86 ¢	(0.8) %	12.17 ¢	12.02 ¢	1.2 %
Total Operations:
Revenue passengers flown	2,788	2,802	(0.5) %	5,409	5,395	0.3 %
Revenue passenger miles (RPM)	4,518,854	4,346,953	4.0 %	8,592,013	8,192,931	4.9 %
Available seat miles (ASM)	5,229,924	5,014,432	4.3 %	10,280,765	9,931,949	3.5 %
Operating revenue per ASM (RASM)	13.99 ¢	14.10 ¢	(0.8) %	13.40 ¢	13.29 ¢	0.8 %
Operating cost per ASM (CASM)	15.05 ¢	14.29 ¢	5.3 %	15.39 ¢	14.56 ¢	5.7 %
CASM excluding aircraft fuel and non-recurring items (a)	11.50 ¢	11.08 ¢	3.8 %	11.66 ¢	11.06 ¢	5.4 %
Aircraft fuel expense per ASM (b)	3.43 ¢	3.32 ¢	3.3 %	3.58 ¢	3.66 ¢	(2.2) %
Revenue block hours operated	53,594	52,647	1.8 %	105,735	104,875	0.8 %
Gallons of jet fuel consumed (c)	68,446	66,360	3.1 %	136,096	131,214	3.7 %
Average cost per gallon of jet fuel (actual) (b)	$2.62	$2.51	4.4 %	$2.70	$2.77	(2.5) %


(a)	See Table 4 for a reconciliation of CASM excluding aircraft fuel and non-recurring items to its most directly comparable GAAP financial measure.
(b)	Includes applicable taxes and fees.
(c)	Excludes operations under the ATSA with Amazon.

Table 3.
Hawaiian Holdings, Inc.
Economic Fuel Expense (unaudited)

The Company believes that economic fuel expense is a good measure of the effect of fuel prices on its business as it most closely approximates the net cash outflow associated with the purchase of fuel for its operations in a period. The Company defines economic fuel expense as GAAP fuel expense plus losses/(gains) realized through actual cash (receipts)/payments received from or paid to hedge counterparties for fuel hedge derivative contracts settled during the period.

	Three months ended June 30,			Six months ended June 30,
	2024	2023	% Change	2024	2023	% Change
	(in thousands, except per-gallon amounts)
Aircraft fuel expense, including taxes and delivery	$ 179,153	$ 166,380	7.7 %	$ 367,931	$ 364,005	1.1 %
Realized losses on settlement of fuel derivative contracts	1,954	2,795	(30.1) %	4,352	4,308	1.0 %
Economic fuel expense	$ 181,107	$ 169,175	7.1 %	$ 372,283	$ 368,313	1.1 %
Fuel gallons consumed	68,446	66,360	3.1 %	136,096	131,214	3.7 %
Economic fuel price per gallon	$ 2.65	$ 2.55	3.9 %	$ 2.74	$ 2.81	(2.5) %

	Estimated three months ending September 30, 2024			Estimated full year ending December 31, 2024
	(in thousands, except per-gallon amounts)
Aircraft fuel expense, including taxes and delivery	$ 189,711	–	$ 195,236	$ 734,429	–	$ 755,925
Realized losses on settlement of fuel derivative contracts	1,637	–	1,637	7,400	–	7,400
Economic fuel expense	$ 191,348	–	$ 196,873	$ 741,829	–	$ 763,325
Fuel gallons consumed	70,524	–	72,579	274,041		282,061
Economic fuel price per gallon	$ 2.71	–	$ 2.71	$ 2.71	–	$ 2.71

Table 4.
Hawaiian Holdings, Inc.
Non-GAAP Financial Reconciliation (unaudited)

The Company evaluates its financial performance utilizing various GAAP and non-GAAP financial measures, including adjusted net loss, adjusted diluted EPS, adjusted pre-tax margin, adjusted EBITDA, and adjusted operating cost per ASM (CASM excluding fuel and non-recurring items). Pursuant to Regulation G, the Company has included the following reconciliation of reported non-GAAP financial measures to comparable financial measures reported on a GAAP basis. The adjustments are described below:

CBA related expense . In February 2023 , pilots represented by the Air Line Pilots Association (ALPA) ratified a new four-year CBA, which included, amongst other things, a signing bonus, pay scale increases across all fleet types, improved health benefits and cost sharing, and enhancements to the Company's postretirement and disability plans. In connection with the ratification, the Company recorded a signing bonus and vacation liability true-up of $17.7 million which were recorded in wages and benefits during the quarter ended March 31, 2023 .
Contract termination amortization . In December 2022 , the Company entered into a Memorandum of Understanding (MOU) with one of its third-party service providers to early terminate its Amended and Restated Complete Fleet Services Agreement (Amended CFS) covering A330-200 aircraft. The Amended CFS was originally scheduled to run through December 2027 , but was terminated in April 2023 . During the three and six months ended June 30, 2023 , the Company recognized approximately $6.0 million and $24.1 million , respectively in amortization within Maintenance, materials and repairs in the Consolidated Statements of Operations.
Special items . During the three and six months ended June 30, 2024 , the Company recorded $6.5 million and $15.0 million , respectively in Special items as a result of expenses related to its merger with Alaska , primarily consisting of legal, advisory, and other fees.
Loss on sale of aircraft. During the three months ended June 30, 2023 , the Company completed the sale of one ATR-42 aircraft and recognized a loss of approximately $0 .4 million in other operating expense.
Gain on sale of commercial real estate . In February 2023 , the Company entered into an agreement for the sale of its commercial real estate and recognized a gain on sale of $10.2 million , which was recorded in Other operating expense in the Consolidated Statements of Operations.
Interest income on federal tax refund . In March 2023 , the Company received $4.7 million in interest income in connection with a $66.8 million federal tax refund received related to fiscal year 2018. The interest income received was recorded in Interest income in the Consolidated Statements of Operations.
Changes in fair value of fuel derivative contracts . Changes in fair value of fuel derivative contracts, net of tax, are based on market prices for open contracts as of the end of the reporting period and include the unrealized amounts of fuel derivatives (not designated as hedges) that will settle in future periods and the reversal of prior period unrealized amounts.
Unrealized gain on foreign debt . Unrealized gain on foreign debt is based on fluctuation in exchange rates and the measurement of foreign-denominated debt to the Company's functional currency.
Unrealized (gain) loss on equity securities . Unrealized (gain) loss on equity securities is driven by changes in market prices and currency fluctuations, which is recorded in Other nonoperating expense in the Consolidated Statements of Operations.

The Company believes that adjusting for the impact of the changes in fair value of equity securities and fuel derivative contracts, fluctuations in exchange rates on debt instruments denominated in foreign currency, and non-recurring expenses and income/gains (including CBA-related, contract termination amortization, special items, interest income on federal tax refund, gain or loss on sale of aircraft, and gain on sale of commercial real estate), helps investors better analyze the Company's operational performance and compare its results to other airlines in the periods presented.

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
	Total	Diluted Net Loss Per Share	Total	Diluted Net Loss Per Share	Total	Diluted Net Loss Per Share	Total	Diluted Net Loss Per Share
	(in thousands, except per share data)
Net Loss, as reported	$ (67,594)	$ (1.30)	$ (12,335)	$ (0.24)	$ (205,159)	$ (3.95)	$ (110,592)	$ (2.15)
Adjusted for:
CBA related expense	—	—	—	—	—	—	17,727	0.34
Contract termination amortization	—	—	(5,972)	(0.12)	—	—	(24,085)	(0.47)
Special items	6,497	0.12	—	—	14,979	0.28	—	—
Loss on sale of aircraft	—	—	392	0.01	—	—	392	0.01
Gain on sale of commercial real estate	—	—	—	—	—	—	(10,179)	(0.20)
Interest income on federal tax refund	—	—	—	—	—	—	(4,672)	(0.09)
Changes in fair value of fuel derivative contracts	(91)	—	864	0.02	(1,907)	(0.04)	4,416	0.09
Unrealized gain on foreign debt	(6,452)	(0.12)	(12,106)	(0.23)	(15,007)	(0.29)	(14,595)	(0.28)
Unrealized (gain) loss on equity securities	(3,376)	(0.07)	1,486	0.03	(8,491)	(0.16)	542	0.01
Tax effect of adjustments	—	—	3,533	0.06	1,037	0.02	5,102	0.10
Adjusted net loss	$ (71,016)	$ (1.37)	$ (24,138)	$ (0.47)	$ (214,548)	$ (4.14)	$ (135,944)	$ (2.64)

Adjusted EBITDA

The Company believes that adjusting earnings for interest, taxes, depreciation and amortization, non-recurring operating expenses (such as changes in unrealized gains and losses on financial instruments) and one-time charges helps investors better analyze the Company's financial performance by allowing for company-to-company and period-over-period comparisons that are unaffected by company-specific or one-time occurrences.

The Company reclassified prior period EBITDA and Adjusted EBITDA to conform to the current period presentation.

	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
	(in thousands)
Net Loss	$ (67,594)	$ (12,335)	$ (205,159)	(110,592)
Income tax expense (benefit)	—	(2,126)	(15,285)	(29,700)
Depreciation and amortization	35,068	33,348	68,035	66,015
Interest expense and amortization of debt discounts and issuance costs	28,324	22,705	52,393	45,585
Interest income	(11,134)	(13,539)	(21,155)	(30,004)
Capitalized interest	(2,541)	(1,945)	(5,675)	(3,404)
EBITDA, as reported	(17,877)	26,108	(126,846)	(62,100)
Adjusted for:
CBA related expense	—	—	—	17,727
Contract termination amortization	—	(5,972)	—	(24,085)
Special items	6,497	—	14,979	—
Gain on sale of commercial real estate	—	—	—	(10,179)
Interest income on tax refund	—	—	—	(4,672)
Changes in fair value of fuel derivative instruments	(91)	864	(1,907)	4,416
Unrealized gain on foreign debt	(6,452)	(12,106)	(15,007)	(14,595)
Loss on sale of aircraft	—	392	—	392
Unrealized (gain) loss on equity securities	(3,376)	1,486	(8,491)	542
Adjusted EBITDA	$ (21,299)	$ 10,772	$ (137,272)	$ (92,554)

Operating Costs per Available Seat Mile (CASM)

The Company has separately listed in the table below its fuel costs per ASM and non-GAAP unit costs, excluding fuel and non-recurring items. These amounts are included in CASM, but for internal purposes the Company consistently uses cost metrics that exclude fuel and non-recurring items (if applicable) to measure and monitor its costs.

	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
	(in thousands, except CASM data)
GAAP Operating Expenses	$ 787,292	$ 716,508	$ 1,581,505	$ 1,446,539
Adjusted for:
CBA related expense	—	—	—	(17,727)
Contract termination amortization	—	5,972	—	24,085
Special items	(6,497)	—	(14,979)	—
Gain (loss) on sale of aircraft	—	(392)	—	(392)
Gain on sale of commercial real estate	—	—	—	10,179
Operating Expenses excluding non-recurring items	$ 780,795	$ 722,088	$ 1,566,526	$ 1,462,684
Aircraft fuel, including taxes and delivery	(179,153)	(166,380)	(367,931)	(364,005)
Operating Expenses excluding fuel and non-recurring items	$ 601,642	$ 555,708	$ 1,198,595	$ 1,098,679
Available Seat Miles	5,229,924	5,014,432	10,280,765	9,931,949
CASM – GAAP	15.05 ¢	14.29 ¢	15.39 ¢	14.56 ¢
Aircraft fuel, including taxes and delivery	(3.43)	(3.32)	(3.58)	(3.66)
CBA related expense	—	—	—	(0.18)
Contract termination amortization	—	0.12	—	0.24
Special items	(0.12)	—	(0.15)	—
Gain (loss) on sale of aircraft	—	(0.01)	—	—
Gain on sale of commercial real estate	—	—	—	0.10
CASM excluding fuel and non-recurring items	11.50 ¢	11.08 ¢	11.66 ¢	11.06 ¢

	Estimated three months ending September 30, 2024			Estimated year ending December 31, 2024
	(in thousands, except CASM data)
GAAP operating expenses	$ 800,964	–	$ 842,664	$ 3,144,245	–	$ 3,307,790
Aircraft fuel, including taxes and delivery	(189,711)	–	(195,236)	(734,429)	–	(755,925)
Less: non-recurring items	(5,906)	–	(5,906)	(24,747)	–	(24,747)
Adjusted operating expenses	$ 605,347	–	$ 641,522	$ 2,385,069	–	$ 2,527,118
Available seat miles	5,453,171	–	5,608,237	21,012,676	–	21,618,811
CASM – GAAP	14.69 ¢	–	15.03 ¢	14.96 ¢	–	15.30 ¢
Aircraft fuel, including taxes and delivery	(3.48)	–	(3.48)	(3.50)	–	(3.50)
Non-recurring items	(0.11)	–	(0.11)	(0.12)	–	(0.11)
CASM excluding fuel and non-recurring items	11.10 ¢	–	11.44 ¢	11.35 ¢	–	11.69 ¢

Pre-tax margin

The Company excludes changes in fair value of equity securities and fuel derivative contracts, fluctuations and exchange rates on debt instruments denominated in foreign currency, and non-recurring items from pre-tax margin for the same reasons as described above.

	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Pre-Tax Margin, as reported	(9.2) %	(2.0) %	(16.0) %	(10.6) %
CBA ratification bonus	—	—	—	1.3
Contract termination amortization	—	(0.8)	—	(1.8)
Special items	0.9	—	1.1	—
Gain on sale of commercial real estate	—	—	—	(0.8)
Interest income on federal tax refund	—	—	—	(0.4)
Changes in fair value of fuel derivative contracts	—	0.1	(0.1)	0.3
Unrealized gain on foreign debt	(0.9)	(1.7)	(1.1)	(1.1)
Loss (gain) on sale of aircraft	—	0.1	—	—
Unrealized (gain) loss on equity securities	(0.5)	0.1	(0.7)	—
Adjusted Pre-Tax Margin	(9.7) %	(4.2) %	(16.8) %	(12.9) %

View original content to download multimedia: https://www.prnewswire.com/news-releases/hawaiian-holdings-reports-2024-second-quarter-financial-results-302210239.html

SOURCE Hawaiian Holdings, Inc.

Explore the world with your friends through our global airline partners

July 30, 2024
Destinations
Alaska Airlines
5 min read

Book travel with Alaska Airlines and our extensive network of global airline partners at alaskaair.com and earn miles

International Friendship Day is a perfect way to celebrate the bonds that connect us across the world. With Alaska Airlines and our extensive network of global airline partners—including our fellow oneworld members—your travel possibilities are endless.

Here’s a list of incredible destinations you can reach with our wide-ranging partner networks. These collaborations allow our guests to fly, earn and redeem Mileage Plan™ miles and enjoy elite benefits worldwide.

1. British Airways – London

Explore the historic streets, iconic landmarks, and eclectic neighborhoods of London. From the Tower of London to Camden Market, there’s something for everyone in this bustling metropolis.

2. Qatar Airways – Doha.

Experience the luxury and culture of Doha. Discover the stunning skyline, indulge in gourmet dining and enjoy the warm hospitality that makes Qatar’s capital a unique and unforgettable destination.

3. Qantas – Sydney

Explore the iconic landmarks and stunning beaches of Sydney. From the Sydney Opera House to Bondi Beach, this Australian city is perfect for a fun-filled getaway.

4. Japan Airlines (JAL) – Tokyo

Experience the futuristic energy and traditional charm of Tokyo. From towering skyscrapers to serene temples, there’s an adventure around every corner.

5. Aer Lingus – Dublin

Explore the historic sites, lively pubs, and charming streets of Dublin, the vibrant Irish capital. The warmth of Irish hospitality ensures unforgettable memories in this welcoming and dynamic city.

6. Cathay Pacific – Hong Kong

Experience the unique blend of East and West in Hong Kong. Enjoy skyline views, delectable cuisine, and a mix of traditional and modern attractions.

7. LATAM Airlines – Santiago, Chile

Immerse yourself in the diverse culture and stunning landscapes of Santiago. From the Andes mountains to vibrant neighborhoods, Chile’s capital is a treat.

8. Condor – Frankfurt

Discover the blend of old and new in Frankfurt, Germany. Explore its historic sites, modern skyline, bustling financial district and unique charm of this vibrant city.

9. Air Tahiti Nui – Papeete

Escape to the tropical paradise of Papeete in Tahiti. Enjoy the lush landscapes, turquoise waters and vibrant Polynesian culture.

10. Starlux Airlines – Taipei

Dive into the lively markets and cultural sites of Taipei. From street food to historic temples, Taiwan’s capital offers endless adventures.

11. Iberia – Madrid

Immerse yourself in the lively atmosphere of Madrid. From tapas bars to world-class museums, the Spanish capital is a feast for the senses.

12. Singapore Airlines – Singapore

Experience the futuristic skyline and rich culture of Singapore. Enjoy its beautiful gardens, bustling markets, and delectable cuisine.

13. Porter Airlines – Toronto, Canada

Discover the multicultural vibrancy of Toronto. Explore its diverse neighborhoods, stunning waterfront, and world-class attractions.

14. Fiji Airways – Nadi

For a tropical paradise, head to Nadi in Fiji. Crystal-clear waters and white-sand beaches await you and your friends in this idyllic setting.

15. Hainan Airlines – Shanghai

Experience the dynamic energy of Shanghai. From the Bund to the French Concession, there’s a wealth of experiences waiting for you.

16. Korean Air – Seoul

Explore the bustling streets and historic sites of South Korea’s capital. Enjoy a unique mix of traditional palaces and modern skyscrapers.

17. Finnair – Helsinki

Discover the charm of Helsinki with its stunning architecture, vibrant design scene and waterfronts—a perfect blend of adventure.

18. Icelandair – Reykjavik

Embark on an adventure in Reykjavik. Discover the stunning landscapes, geothermal pools and unique culture of Iceland.

19. Royal Air Maroc – Casablanca

Walk through the historic streets of Casablanca. Explore the Hassan II Mosque and blend of traditional Moroccan and modern influences.

20. SriLankan Airlines – Colombo

Enjoy the vibrant culture and scenic beauty of Colombo. Discover the rich history, delicious cuisine, and warm hospitality of Sri Lanka.

21. Malaysia Airlines – Bangkok

Dive into the bustling streets and vibrant markets of Bangkok. Enjoy the mix of modern and ancient sites, from stunning temples to rooftop bars.

22. Royal Jordanian – Amman

Delve into the history and culture of Amman. From ancient ruins to bustling souks, the Jordanian capital offers a unique and enriching experience.

23. American Airlines – Miami

Dive into the vibrant nightlife, stunning beaches, and rich cultural tapestry of Miami. It’s the perfect spot for friends looking to experience the best of Florida’s sun and fun.

24. Kenmore Air – Friday Harbor

Explore the scenic beauty of Friday Harbor, Washington. Enjoy whale watching, kayaking, and the serene landscapes of the San Juan Islands.

25. Bahamasair – Nassau

Relax on the stunning beaches of Nassau. Enjoy the crystal-clear waters, vibrant culture, and exciting water activities in the Bahamas.

26. Cape Air – Bar Harbor

Discover the natural beauty of Bar Harbor, Maine. Enjoy the coastal views and experience the charming New England atmosphere.

27. Contour Airlines – Marion

Experience the small-town charm and friendly atmosphere of Marion, Illinois. It’s a perfect spot for a relaxing getaway with friends!

28. Aleutian Airways – Dutch Harbor

For a unique adventure, head to Dutch Harbor. Experience the rugged beauty and rich history of this Alaskan destination.

29. Mokulele Airlines – Waimea-Kohala

Experience the stunning landscapes of Waimea-Kohala.
Enjoy the beautiful beaches, lush valleys and rich Hawaiian culture.

30. Southern Airways Express – Pueblo

Discover the charm of Pueblo County, Colorado, where stunning outdoor adventures await, including the scenic Pueblo Riverwalk.

This International Friendship Day, make memories that will last a lifetime by exploring these amazing destinations with your friends. Whether you’re seeking adventure, relaxation, or cultural experiences, there’s a perfect place waiting for you. Happy travels!

Book Your Next Unforgettable Friend Trip

3 takeaways from the Bloomberg Green Festival

July 26, 2024
Sustainability
Alaska Airlines
5 min read

Story by Cameron Greenberg and Shaleese Nuckols

Earlier this month, we joined our colleagues at Alaska Airlines in welcoming folks from around the world to Seattle for the inaugural Bloomberg Green Festival, a dynamic multi-day event dedicated to elevating conversations on sustainability. Supporting Alaska’s role as the festival’s official airline sponsor, we were thrilled to help bring together diverse voices to collaborate on climate ideas and solutions.

As a communications specialist and an intern who joined the company this year, the event was new territory for us, but we leapt at the opportunity to attend. Over the four-day festival, we listened to talks, attended performances, and brought our perspectives to conversations in our Alaska Airlines lounge space in the festival hall. Here are three of the biggest themes we took away from the event:

1. We live in an era of consequence

On the second day of the festival, Washington State Governor Jay Inslee discussed his views on climate policy with Anna Edgerton, the Seattle bureau chief at Bloomberg. Governor Inslee reiterated several times how happy he was to be born now, because we are alive during a tremendously pivotal point in human history, where the future of the planet depends on our actions and the rate of innovation is soaring.

Other sessions at the festival emphasized the long-term impacts of this reality – how the rigor of society’s climate action will ripple across the lives of future generations. On a more micro-level, speakers suggested that while we still have time to make a difference, we have started to see results. This came up in a panel on sustainable aviation fuel, where leaders from Alaska joined Microsoft and SkyNRG, a sustainable aviation fuel (SAF) provider, to discuss how successes in wind and solar have enabled us to take our learnings, financial structures and best practices, and streamline our approach to growing the SAF market.

2. Every business is a climate business

For some companies at the festival, it was immediately obvious that they were in the climate business, whether it was green building startup BlocPower; Enso, a company focused on producing eco-friendly tires for electric vehicles; or our partner ZeroAvia, a leading manufacturer of hydrogen-electric engines. But one of the most pervasive themes at the festival was that every company must address climate risk because everybody is affected by climate change. This reality was emphasized by the sheer breadth of festival attendance; over lunch and in the Alaska lounge, we spoke with psychologists, university employees, and investment firm managers.

The idea that everyone is in the climate business also expanded to the festival food. It was hard to believe that the coconut ice cream from Molly Moon’s was dairy free, or that the fluffy focaccia from Flora Bakehouse was vegan. It not only spoke to the world of sustainable food – how restaurants can take climate action through sustainable sourcing and waste reduction – but also challenged our preconceptions that vegan food needs to taste worse than non-vegan counterparts and inspired us to try more vegetarian and vegan fare.

3. Next generation changemakers are here

Gen Z and Millennials are no longer the faceless “next generation”; attendees in their 20s and early 30s flocked to the festival, bringing with them their voices, passion, and innovative approaches to climate action and leadership on sustainability.

Some took to the Ideas Stage: 22-year-old Xiye Bastida wove parallels between her climate justice activism and her work as an indigenous rights advocate, and Wawa Gatheru, the founder of Black Girl Environmentalist, participated in a fireside chat about the disproportionate effects of climate change on women and girls. We saw others communicate their ideas through performances, such as drag queen, artist and environmentalist Pattie Gonia, who edited in climate-focused lyrics to songs like ‘Hot in Herre by Nelly’ and ‘Rain On Me by Ariana, while highlighting the connection between identity, self-expression, and the planet.

From our first days at Alaska, the airline has made it clear that showing care is a priority, whether to the places they live and fly, or the planet we share. That focus on care is the reason the company is taking actions to reduce carbon emissions and waste, and to protect local ecosystems.

It was gratifying to see that sense of care pervade the festival. It went into the thoughtful details of our lounge space and the remarks given by Alaska leaders, and also extended beyond our presence at the event as other attendees embraced the chance to connect and learn from one another.

There is still much to do in the race against climate change, whether it’s at the scale of our companywide commitment to achieve net zero carbon emissions by 2040 or using what we learned at the festival to make more sustainable choices in our own lives, but we can’t wait to return for next year’s Bloomberg Green Festival and see the progress that everyone has made.

Hawaiian Airlines Announces Expiration of and Results for Previously Announced Private Exchange Offer for its Outstanding 5.750% Senior Secured Notes Due 2026 and Consent Solicitation

July 24, 2024
releases
Hawaiian Airlines
6 min read

HONOLULU – Hawaiian Airlines, Inc. (the “Company”) today announced that Hawaiian Brand Intellectual Property, Ltd. (the “Brand Issuer”), an exempted company incorporated with limited liability under the laws of the Cayman Islands and an indirect wholly owned subsidiary of the Company, and HawaiianMiles Loyalty, Ltd. (the “Loyalty Issuer”), an exempted company incorporated with limited liability under the laws of the Cayman Islands and an indirect wholly owned subsidiary of the Company (and, together with the Brand Issuer, the “Issuers” and each, an “Issuer”), have released the final results for their previously announced offer to exchange (the “Exchange Offer”) any and all of their outstanding 5.750% Senior Secured Notes due 2026 (the “Existing Notes”) held by Eligible Holders, as defined below, for the Issuers’ 11.000% Senior Secured Notes due 2029 (the “New Notes”) and cash following the expiration of the Exchange Offer.

In connection with the Exchange Offer, the Issuers solicited (the “Consent Solicitation” and, together with the Exchange Offer, the “Exchange Offer and Consent Solicitation”) consents (the “Consents”) to the adoption of certain amendments (the “Proposed Amendments”) to the indenture governing the Existing Notes. Eligible Holders who tendered their Existing Notes pursuant to the Exchange Offer also were required to deliver Consents to the Proposed Amendments. Eligible Holders could not deliver Consents to the Proposed Amendments without also validly tendering their Existing Notes.

As of the Expiration Time of 5:00 p.m., New York City time, on July 24, 2024, according to information provided by Global Bondholder Services Corporation, the Information and Exchange Agent for the Exchange Offer and Consent Solicitation, $1,193,732,902 aggregate principal amount (or approximately 99.5% of the outstanding principal amount) of the Existing Notes had been validly tendered and not validly withdrawn in the Exchange Offer. Subject to satisfaction or waiver of the conditions set forth in the Exchange Offer Materials (as defined below), settlement of the Exchange Offer is expected to occur on July 26, 2024 (the “Settlement Date”).

The Exchange Consideration (as defined in the Offering Memorandum, which is defined below) will be paid to holders of Existing Notes validly tendered after the Early Exchange Time but at or prior to the Expiration Time and accepted by the Issuers for exchange, which will result in a payment on the Settlement Date to such holders of $825.0 of New Notes and $125.0 in cash for every $1,000 principal amount of Existing Notes tendered.

The Total Exchange Consideration (as defined in the Offering Memorandum), which includes the Early Exchange Payment (as defined in the Offering Memorandum) of $50.0 in cash per $1,000 principal amount of Existing Notes, will be paid to holders of Existing Notes validly tendered on or prior to the Early Exchange Time and accepted by the Issuers for exchange, which will result in a payment on the Settlement Date to such holders of $825.0 of New Notes and $175.0 in cash for every $1,000 principal amount of Existing Notes tendered.

Holders of Existing Notes accepted in the Exchange Offer as of the Early Exchange Time will also receive a cash interest payment for each $1,000 principal amount of Existing Notes exchanged, representing interest, if any, that has accrued from the most recent interest payment date in respect of the Existing Notes up to, but not including, the Settlement Date.

The Exchange Offer was made solely to Eligible Holders upon the terms and subject to the conditions set forth in the confidential offering memorandum and solicitation statement (the “Offering Memorandum”) and the related letter of transmittal, each dated June 24, 2024 (“Exchange Offer Materials”).

The Exchange Offer and Consent Solicitation was made only (a) in the United States, to holders of Existing Notes who were reasonably believed to be “qualified institutional buyers,” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and (b) outside the United States, to holders of Existing Notes who are not “U.S. persons” (as defined in Regulation S under the Securities Act) in offshore transactions in compliance with Regulation S. We refer to the holders of Existing Notes who have certified that they were eligible to participate in the Exchange Offer and Consent Solicitation pursuant to at least one of the foregoing conditions as “Eligible Holders.”

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer and Consent Solicitation is being made and the New Notes are being offered only to “qualified institutional buyers” and holders that are not “U.S. persons” as such terms are defined under the Securities Act. The New Notes have not been registered under the Securities Act or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act, and, accordingly, are subject to significant restrictions on transfer and resale as more fully described in the Exchange Offer Materials. The Exchange Offer and Consent Solicitation is subject to the terms and conditions set forth in the Exchange Offer Materials.

About the Company

Now in its 95th year of continuous service, Hawaiian is Hawaiʻi's largest and longest-serving airline. Hawaiian offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaiʻi and 16 U.S. gateway cities – more than any other airline – as well as service connecting Honolulu and American Samoa, Australia, Cook Islands, Japan, New Zealand, South Korea and Tahiti.

Consumer surveys by Condé Nast Traveler and TripAdvisor have placed Hawaiian among the top of all domestic airlines serving Hawaiʻi. The carrier was named Hawaiʻi's best employer by Forbes in 2022 and has topped Travel + Leisure’s World’s Best list as the No. 1 U.S. airline for the past two years. Hawaiian has also led all U.S. carriers in on-time performance for 18 consecutive years (2004-2021) as reported by the U.S. Department of Transportation.

The airline is committed to connecting people with aloha by offering complimentary meals for all guests on transpacific routes and the convenience of no change fees on Main Cabin and Premium Cabin seats. HawaiianMiles members also enjoy flexibility with miles that never expire. As Hawai‘i’s hometown airline, Hawaiian encourages guests to Travel Pono and experience the islands safely and respectfully.

Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA). Additional information is available at HawaiianAirlines.com. Follow Hawaiian’s Twitter updates (@HawaiianAir), become a fan on Facebook (Hawaiian Airlines), and follow us on Instagram (hawaiianairlines). For career postings and updates, follow Hawaiian’s LinkedIn page.

For media inquiries, please visit Hawaiian Airlines’ online newsroom.

Forward-Looking Statements

This press release may contain “forward-looking statements.” These forward-looking statements include, but are not limited to, the satisfaction of the conditions to the Exchange Offer and Consent Solicitation and the completion of the proposed Exchange Offer and Consent Solicitation.

Alaska Airlines unveils stunning lounge, completing transition to renovated world-class terminal in San Francisco

July 24, 2024
Guest Experience
Maria Cid
29 min read

Summary



We are excited to announce the grand opening of our newest Alaska Lounge at San Francisco International Airport’s Harvey Milk Terminal 1.



Spanning 11,000 square feet, this modern and spacious lounge embodies our commitment to expanding our lounge network and elevating the pre-flight experience.



Guests will enjoy a welcoming West Coast atmosphere, with open spaces filled with natural light and warm finishes, creating a relaxing and enjoyable environment before their flight.

We’re proud to announce the grand opening of our newest Alaska Lounge at San Francisco International Airport’s Harvey Milk Terminal 1. The modern and spacious 11,000 square foot space delivers on our promise to enhance our network of lounges and offers an unparalleled pre-flight experience with a welcoming West Coast vibe, open spaces bathed in natural light and warm finishes.

Today’s unveiling of our elegantly designed Lounge at SFO represents the culmination of over two years of dedicated commitment to enhance the way we care for our guests. Our Lounges redefine the premium travel experience, providing top-tier amenities and ample space to escape the hustle and bustle of the airport, whether you’re traveling with Alaska or our oneworld and global airline partners.”

– Sangita Woerner

Senior Vice President of Marketing and Guest Experience at Alaska Airlines

Download press kit for images

Upon entering our SFO Lounge, guests are transported to a tranquil retreat. Savor hand-crafted espresso beverages from our barista station or enjoy a refreshing local craft brew and a glass of West Coast wine from our contemporary bar. The space exudes sophistication with sleek, stylish details balanced with an inviting atmosphere for travelers to unwind.

For our guests who have time to refuel, they’ll be able to indulge on our complimentary selection of food and beverages designed to satisfy every palate, including our popular sourdough bread & spreads and candy jars that carry local San Francisco Bay Area favorite sweets. Our made-to-order pancake machine has become such a beloved attraction for travelers of all ages that we’ve added one more for a total of two in our space.

SFO Lounge Highlights:



The SFO Lounge stands as our largest in California with 55% more seating compared to our previous Lounge at Terminal 2.



Complete with plug-in outlets for charging devices at nearly every seat.



Each nook is thoughtfully designed, including a space for travelers with just a few minutes to recharge and our Signature Loungers positioned by floor-to-ceiling windows for relaxation with a view.



For the first time, we’ve installed TalkBox® booths to provide the ultimate privacy for calls or meetings.

In partnership with William Duff Architects, our Lounge is designed to secure LEED (Leadership in Energy and Environmental Design) Gold certification, reflecting our commitment to sustainability. The Lounge will achieve certification through water-efficient measures and the use of low-emitting materials to reduce energy use.

Harvey Milk Terminal 1 at SFO

The opening of the SFO Alaska Lounge marks the completion of our two-year, $30 million relocation project to Harvey Milk Terminal 1 and aligns with our $3 billion investment to enhance our infrastructure and guest experience at our major West Coast hubs.

Last month, we officially began operating out of Harvey Milk Terminal 1 and debuted SFO’s first automated bag drop technology, streamlining the travel experience and supporting our long-term goal of reducing congestion in our lobbies. This move positions us as the largest carrier at the terminal and sets us up for long-term growth in San Francisco where we proudly serve approximately 5 million guests each year.

As we roll out our largest summer schedule in company history—including the most flights of any airline from SFO to some of the largest cities on the West Coast with up to eleven daily flights to Seattle, six daily flights to Portland and as many as seven flights to San Diego—guests can now enjoy seamless connectivity to our fellow oneworld Alliance members and global partners for their next domestic or international flight. From SFO, Alaska and our partners offer over 130 weekly flights to 18 international destinations.

Experience the sophistication and comfort of the new Alaska Lounge at SFO by becoming a Lounge member or purchasing a single-entry Lounge pass with a valid Alaska, oneworld or global airline boarding pass. Lounge membership provides access to all Alaska operated Lounges—including Seattle, Portland, Los Angeles and Anchorage. Lounge+ membership provides access to Alaska operated Lounges and nearly 90 partner lounges. Learn how to become an Alaska Lounge member here.

Additonal details for media:

Download our press kit, which includes photos and b-roll of our newest Lounge.

Press Kit

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Alaska Airlines and Bank of America present a new premium credit card designed for global travelers, the Atmos™ Rewards Summit Visa Infinite® card

Aug 20, 2025 | 12 min read

Alaska Airlines selects Starlink, the fastest Wi-Fi in the sky, to launch new era of connectivity

Aug 20, 2025 | 7 min read

Alaska Airlines teams up with T-Mobile to offer ultra-fast, free Wi-Fi to Atmos™ Rewards members

Aug 20, 2025 | 5 min read

Feel the Vibes! Sub Pop Records curates new boarding music for Alaska Airlines

July 23, 2024
Guest Experience
Cameron Greenberg
4 min read

Starting this month, enjoy boarding music from Sub Pop Records on all Alaska Airlines flights departing from Seattle-Tacoma International Airport and Seattle Paine Field International Airport.

Boarding music is one of the first things our guests experience when they step onto our aircraft. It’s their soundtrack as they stow their bags and take their seats. But it’s more than just music to us. Airline boarding music is meant to convey a vibe.

Crafting a mood can be challenging. What elicits nostalgia from one guest might send another guest digging for their earplugs, and what might sound fresh to a brand-new flier could irritate a crew member who has heard the tracks a dozen times.

To David Scotland, inflight product & experience director at Alaska Airlines, those considerations fold up into the broader question of how to provide an integrated guest experience.

“Boarding music doesn’t exist in isolation—it’s a core component of the premium experience we provide to our guests. The music, the lighting, and the care shown by our amazing crew members all work together to create a great first impression for our guests when they board, said Scotland. “The airport and boarding process can be stressful; settling into your seat and hearing thoughtfully curated playlist can start to put your mind at ease as you prepare for your flight.”

Our latest playlist is inspired by summertime and West Coast vibes: it’s upbeat, catchy, and uniquely memorable, without being intrusive.

A hometown power duo

While boarding music was new territory for us and Sup Pop, our two iconic Seattle brands are long-time partners and have worked together for years.

Back in 2016, we introduced Sub Pop as one of our very first complimentary music offerings on our inflight entertainment. Then, in 2018, we celebrated Sub Pop Records’ 30th anniversary in style by launching a commemorative aircraft dedicated to them.

“Music is powerful and can transport you to another place. Any time I hear a Sub Pop song, it reminds me of the time, early on in our partnership, where they dropped off a dozen CDs for me to listen to. I drove home, popped in a Beach House disc and fell in love immediately,” said David Scotland, inflight product & experience director at Alaska Airlines. “I hope our guests can experience something similar with our Sup Pop playlist.”

The team behind the melodies

While the selection of boarding music is a tried-and-true process for our in-flight entertainment team, this was Sub Pop’s first time producing music for the airline industry.

For Nick Duncan, Sub Pop’s artists and repertoire (A&R) manager, the process was at once alien and oddly familiar.

Before his ten-year tenure at Sub Pop, Duncan honed his skills in radio, where curation was always a key part of his job. In radio, he had to know his audience inside and out. When pitching projects, he built relationships, figuring out who would be most receptive to each project and how to reach listeners most effectively.

It’s the same thing here,” said Duncan, referring to Alaska’s playlist. “I had to think about the people who would be at the airport – about what kind of music could make their eyes light up and make them want to learn more. Finding things that fit in with the inflight environment while also representing our ethos and roster of artists; that required some threading of the needle.”

Sub Pop helped us thoughtfully craft the playlist, steering clear of songs with profanity or those that sounded too much like elevator music. Rather than relying solely on top hits, Nick and his team focused on showcasing a diverse range of talent, shining a light on hidden gems and emerging artists.

“I want to help people find more art they can connect with, to make their eyes light up a little bit and find out what they’re listening to. That lightbulb moment is my favorite part of my job,” said Duncan.

Nick Duncan, A&R manager and Carly Starr, VP of marketing, at Sub Pop Records HQ

Alaska Airlines’ custom playlist

After months of hard work, Alaska and Sub Pop put together a playlist perfect for your travels, now available on Spotify. Give it a listen and keep an ear out for it on your next flight out of Seattle!

Listen here ♫

On all of our other flights beyond the Seattle area, guests can enjoy curated playlists carefully selected by our team.

Hawaiian Airlines Expands West Coast Service for Holiday Season

July 22, 2024
releases
Hawaiian Airlines
4 min read

A330_STILL - Reef Runway Diamond head_mid

HONOLULU – Hawaiian Airlines, Hawaiʻi's hometown airline, is preparing for strong holiday travel demand between Hawaiʻi and the West Coast by increasing flights between Honolulu (HNL) and Los Angeles (LAX), San Francisco (SFO) and Seattle (SEA).

"We’re already seeing compelling demand for end-of-year travel and our extra flights will make it even more convenient for our guests to experience our Hawaiian hospitality during the holiday season," said Brent Overbeek, executive vice president and chief revenue officer at Hawaiian Airlines. "Additionally, we decided to once again offer a fourth Honolulu-Los Angeles, peak-day flight that was popular with our guests during our summer seasonal service.”

Hawaiian will operate the routes with a mix of Starlink-equipped Airbus A330 and Airbus A321neo aircraft. Guests will experience Hawaiian’s award-winning service including culinary delights through the airline’s Featured Chef Series, signature beverages by Kō Hana Rum and Maui Brewing Co., and island treats from the Pau Hana snack cart. Complimentary in-flight entertainment is offered on all transpacific flights and includes the airline’s specially curated video collection, Hana Hou! TV.

November:
Hawaiian will add a second Seattle (A321neo) and San Francisco (A330) flight to/from Honolulu.

SEATTLE:

Nov. 22-25 and Nov. 30 – Dec. 1
HA28 will depart HNL at 9:30 p.m., arriving at SEA at 5:15 a.m. the following day.
Nov. 23-26 and Dec. 1-2
HA27 will depart SEA at 7 a.m., arriving at HNL at 11:10 a.m.

SAN FRANCISCO:

Nov. 22-25 and Nov. 30 – Dec. 1
HA54 will depart HNL at 10 p.m., arriving at SFO at 5:05 a.m. the following day.
Nov. 23-26 and Dec. 1-2
HA53 will depart SFO at 7:05 a.m., arriving at HNL at 10:45 a.m.

December/January:
Hawaiian will reinstate the above SEA and SFO flights, operating both with an Airbus A321neo aircraft, and also add the following fourth daily LAX-HNL A330 flight.

LOS ANGELES:

Dec. 19-21, 26-28 and Jan. 2-6
HA78 will depart HNL at 10:10 a.m., arriving at LAX at 5:35 p.m.
HA77 will depart LAX at 7:15 p.m., arriving at HNL at 11:15 p.m.

SEATTLE:

HA28 will resume Dec. 15 – Jan 6 (except Dec. 24), departing HNL at 9:25 p.m., arriving at SEA at 5:10 a.m. the following day.
HA27 will resume Dec. 16 – Jan. 7 (except Dec. 25), departing SEA at 7 a.m., arriving at HNL at 11:15 a.m.

SAN FRANCISCO:

HA54 will resume Dec. 15-Jan. 6 (except Dec. 24), departing HNL at 10 p.m., arriving at SFO at 5:15 a.m. the following day.
HA53 will resume Dec. 16-Jan. 7 (except Dec. 25), departing SFO at 7 a.m., arriving at HNL at 10:45 a.m.

To view flight schedules or to book a flight, please visit www.HawaiianAirlines.com.

About Hawaiian Airlines
Now in its 95th year of continuous service, Hawaiian is Hawaiʻi's largest and longest-serving airline. Hawaiian offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaiʻi and 16 U.S. gateway cities – more than any other airline – as well as service connecting Honolulu and American Samoa, Australia, Cook Islands, Japan, New Zealand, South Korea and Tahiti.

Consumer surveys by Condé Nast Traveler and TripAdvisor have placed Hawaiian among the top of all domestic airlines serving Hawaiʻi. The carrier was named Hawaiʻi's best employer by Forbes in 2022 and has topped Travel + Leisure’s World’s Best list as the No. 1 U.S. airline for the past two years. Hawaiian has also led all U.S. carriers in on-time performance for 18 consecutive years (2004-2021) as reported by the U.S. Department of Transportation.

The airline is committed to connecting people with aloha by offering complimentary meals for all guests on transpacific routes and the convenience of no change fees on Main Cabin and Premium Cabin seats. HawaiianMiles members also enjoy flexibility with miles that never expire. As Hawai‘i’s hometown airline, Hawaiian encourages guests to Travel Pono and experience the islands safely and respectfully.

For media inquiries, please visit Hawaiian Airlines’ online newsroom.

From Farm to Cabin: Making a Difference with Sweetheart Farm

July 19, 2024
Community
Hawaiian Airlines
3 min read

Sadie Yu began raising animals not long after taking her first steps around the family’s spacious 4-acre backyard in rural Hilo on the Island of Hawai‘i. Surrounded by goats, pigs, cows and chickens, Yu’s love for farming naturally grew, and last year the 10-year-old founded Sweetheart Farm to expand on her casual egg sales with products ranging from microgreens and chili pepper jelly to baked goods and lilikoi (passion fruit) butter.

For Yu, Sweetheart Farm is a passion, but more importantly, a way to help cover medical expenses after her 3-year-old brother Ka‘ohe was diagnosed with a rare genetic condition requiring frequent hospital visits and travel to the continental U.S. for evaluations.

“Sadie wanted to do her part in supporting her family, which fueled her journey as a young entrepreneur,” recalls her mother Jodi. “She was later given the opportunity to be a part of Keiki Rise, a program for young entrepreneurs. Keiki Rise enabled her to become a legitimate business and things took off from there.”

At the end of a recent TV news interview about her many accolades, Yu, who is now 11 and entering 6^th grade at Kamehameha Schools in Keaau, remarked that her career goal was to feature her products on Hawaiian Airlines’ snack carts. The airline would soon call, and after a few meetings to discuss product packaging and logistics, Yu’s dream came true yesterday when guests onboard flight HA62 from Kona to Los Angeles were the first to experience her lilikoi butter.

Sadi Yu, owner of Sweetheart Farm, joined Hawaiian Airlines flight attendants to offer her lilikoi butter on a flight from Kona to Los Angeles.

“When we learned about Sadie’s amazing drive to help her little brother, we were inspired to find a way to bring her delicious lilikoi butter into our cabin and encourage her business journey,” said Alana Gaitley Jones, a manager with Hawaiian’s product development team. "We are delighted to finally share her sweet product and heartwarming story with our guests.”

“Ka’ohe and I want to thank you from the bottom of our hearts for all your support,” Sadie Yu told HA62 guests prior to joining flight attendants on the carrier’s Pau Hana Cart service. The entire supply of nearly 100 lilikoi butter jars sold out within minutes. “I’m super grateful, I can’t express with words. This is a once-in-a-lifetime opportunity,” Yu said.

The Yu family with Hawaiian Airlines flight attendants onboard flight HA62.

Sweetheart Farm’s lilikoi butter will be available as a surprise-and-delight offering on a few, select Hawaiian flights between Los Angeles and Kona this month. All proceeds will go the Yu family. Sadie Yu’s butter and other goods are available for purchase at Island Gourmet Market in Waikoloa or via Instagram @sweetheartfarm.

Sweetheart Farm's lilikoi butter in Hawaiian Airlines Pau Hana Cart.

The gift of travel: Alaska’s Maui CARE Flights program sends wildfire-impacted families to Disneyland Resort

July 19, 2024
Community
Maria Cid
5 min read

The gift of travel: Alaska’s Maui CARE Flights program sends wildfire-impacted families to Disneyland Resort

Before Kaleo and Miriam Keo knew it, their children were entering their teenage years when they realized they’d never traveled outside their home of Hawai‘i.

That changed for the entire family last Thursday.

The Keos, along with 36 other Maui families, boarded a special charter flight sponsored by Alaska Airlines and Marriott International from Kahului, Maui to Los Angeles. Their destination: the Disneyland Resort in Anaheim, Calif.

In partnership with Hawai‘i Gov. Josh Green, M.D., Maui County Mayor Richard Bissen and the Council for Native Hawaiian Advancement, the flight kicked off Alaska’s Maui CARE Flights program to provide hope and much-needed mental health breaks for families and individuals affected by the Aug. 8, 2023 Maui wildfires. Following this special charter flight, Alaska Airlines will donate up to 180 roundtrip tickets (equivalent to one airplane) every month from August 2024 through December 2025. Last year, Alaska donated 32 million CARE Miles (many donated by employees and guests) to help over 650 impacted Maui residents with travel support as they began the rebuilding process.

The resilience of the Maui community since last year’s wildfires has truly been inspiring,” said Alaska Airlines CEO Ben Minicucci. “All of us at Alaska Airlines are humbled to continue building on our support for the people of Maui with this new Maui CARE Flights program. Alaska is all about people and care, and we know that travel can offer a break from the mental toll of recovery. We hope that this gift of flight provides a bright spot for Maui families as they navigate the rebuilding of this incredible community.”

Kaleo Cabreros and his family lost their home, cars and their two pets in the devastating wildfire that leveled the community of Lahaina. He and his wife told their four children they were going to Oʻahu before surprising them with the truth that they were one of the families chosen to go on the trip to Disneyland.

“They didn’t know how to respond! I’m just grateful for everybody involved and all the hard work put in to organize an event like this; mahalo, mahalo, mahalo,” said Kaleo Cabreros. “This was the perfect opportunity to unplug and put a pause on the daily routines and spend time with my family. The number one thing I really wanted was just to see the smile on their faces and their joy.”

“The ability to travel is important to Hawai‘i residents—travel connects us. It has continuously afforded me the opportunity to travel to Maui to grieve with wildfire survivors and provide them support,” said Gov. Green. “Yet the Maui CARE Flights program is about more than travel—it’s about healing. By giving our wildfire-impacted families opportunities to joyfully bond through these shared experiences together, we’re fostering recovery and resilience. This initiative, made possible by the generosity of Alaska Airlines and our partners, embodies the spirit of aloha and our commitment to supporting the well-being of our community.”

There were many other firsts on the Maui CARE Flights inaugural trip to Disneyland last week. For some, this was their first time flying. For others, their first visit to Disneyland.

For Lono Cabanilla and Janel Pagdilao-Bala, the trip marked a new beginning in their lives after the fires when Lono surprised Janel by getting down on one knee at the theme park and asking her to marry him.

“After everything, I figured now is the time to seize every opportunity that comes our way,” said Lono who’d been holding onto the ring since Mother’s Day. “I was waiting for the right opportunity and this trip came up spontaneously.”

This gift of travel will give our survivors, who have gone through so much, a chance to reconnect with loved ones, see new places and create new memories together,” said Maui County Mayor Richard Bissen. “The generosity of Alaska Airlines and partners is a wonderful example of the compassion that our residents need as they continue to recover from the devastation of the wildfires.”

The Maui CARE Flights program is supported by Alaska Airlines, administered by the Council for Native Hawaiian Advancement (CNHA), and in collaboration with the State of Hawai‘i and the County of Maui. To apply, interested individuals and families can fill out a short application form online at helpingmaui.org/mauicareflights or in person at CNHA’s Kākoʻo Maui Resource Center. Applicants will need to provide their FEMA assistance number and pre-wildfire address. Those who do not have a FEMA assistance number can verify eligibility through other methods.

Mahalo to our partners for their support – Council for Native Hawaiian Advancement, Marriott International, Boys & Girls Club of Maui, Maui Pono Foundation, Roberts Hawaii and HMSHost.

Alaska Airlines announces major expansion of First Class and Premium seating

July 17, 2024
Guest Experience
Alaska Airlines
5 min read

This expansion will add 1.3 million premium seats annually to our mainline fleet, providing guests with even more opportunities to upgrade to a premium experience

At Alaska Airlines, we’re always looking for new ways to make your travel experience even better. We believe in giving you choices that fit your needs, whether you’re all about the comfort and perks of Premium and First Class, or you appreciate the value and flexibility of our Main Cabin and Saver Fare options.

Starting in September, we’re excited to begin rolling out additional First Class and Premium Class seating across more than 200 of our aircraft, including 900ERs, 800s and MAX9s. This expansion will add 1.3 million premium seats annually to our mainline fleet. Earlier this year, we successfully retrofitted our entire regional fleet, adding 400,000 Premium Class seats to our E175 aircraft.

More First Class and Premium seating

By increasing the number of seats available in these classes, we are making it easier than ever for our guests to upgrade while also meeting the growing demand for premium seating.

Aircraft	First Class	Premium Class	Number of aircraft being retrofitted	Timing
737-800	Increasing from 12 to 16 seats	30 seats will remain	59	Conversions will begin in early 2025; to be completed by summer 2026
737-900ER	16 seats will remain	Increasing from 24 to 30 seats	79	Conversions will begin in fall 2024; to be completed by summer 2025
737-9 MAX	16 seats will remain	Increasing from 24 to 30 seats	80	Conversions will begin in spring 2025; to be completed by summer 2026

First Class

For years, our guests have loved our industry-leading First Class experience. In partnership with RECARO, we’ve further enhanced this offering to provide our guests with ultimate comfort. Our new First Class seats installed on the 737-800 fleet will continue to boast the most legroom and features include a calf rest, new seatback device holder, 6-way headrest with neck support and USB-C charging capabilities.

Premium Class & Main Cabin

In Main Cabin and Premium Class of our 737-800 fleet, guests will continue to experience comfort and convenience at every seat with improved features, including new device holders with built in cup holders, USB-C charging and a 6-way headrest with dedicated neck support.

As we modify the 737-900ER fleet to increase Premium Class by converting six of our Main Cabin seats, these aircraft will receive an interior refresh, bringing modern touches like device holders in the main cabin to the backbone of our fleet. All MAX9 aircraft, among the newest in our fleet, will also get six additional seats converted to their Premium cabins, enhancing the comfort and luxury that our guests enjoy.

Meeting demand and enhancing availability

The decision to increase the number of First Class and Premium Class seats comes in response to growing demand from our valued guests. We understand that many travelers seek the added comfort and benefits of these classes, and we are committed to meeting this demand. Whether you are traveling for business or leisure, upgrading your seat will now be more accessible than ever.

Our Premium Cabin performance continues to support what we believe to be a structural shift in higher demand for premium products. First Class and Premium Class revenues finished up 8% and 6% respectively, during this quarter, with our First Class load factor hitting 71% for the quarter, up 4.3 points. Our paid premium capacity has come a long way from the days of paid load factors in the 40% range for mainline and all-coach regional fleet.

Maintaining convenience with four lavatories

We are happy to share that even with the introduction of additional premium seats, our Boeing fleet of aircraft will maintain four lavatories for use. We recognize the importance of convenience and accessibility during your flight, and maintaining four lavatories ensures all guests, regardless of their seating class, have ample access to restroom facilities.

Premium perks when you fly with us

Whether you’re traveling for business or pleasure, you can enjoy our premium offerings on any Alaska flight, such as no change fees, extra legroom in First Class* and Premium Class and the most generous Mileage Plan with the quickest path to elite status.

Onboard, treat yourself to our industry-leading food and beverage service, featuring high-quality West Coast-inspired meals and a premium selection of drinks. Our tech-savvy travel experience, airport investments and remarkable employees ensure you’re well taken care of every step of the way.

And if you haven’t heard, we’re making it easier for our guests to upgrade! Now you can pay to upgrade to First or Premium Class up to 50 minutes before departure on www.alaskaair.com under Manage on www.alaskaair.com or through the Alaska Airlines mobile app.

For Media:

Download our press kit, which includes high resolution photos of our premium seating and seat map configurations.

Press Kit

*Out of any U.S. legacy airline excluding lie-flat seats

Alaska Air Group reports second quarter 2024 results

July 17, 2024
Company
Alaska Airlines
34 min read

Summary



Achieved a completion rate of 99.5%, among the highest in the industry



Expected to lead the industry with adjusted pretax margin of 15.8%



Reached tentative agreement with Alaska flight attendants represented by AFA

Alaska Air Group (NYSE: ALK) today reported financial results for the second quarter ending June 30, 2024, and provided outlook for the third quarter ending September 30, 2024 and full year 2024.

It’s clear that premium airlines are rising above the rest of the industry, and Alaska’s product and performance put us in that top tier, with a strong long-term outlook to grow and compete. That’s how we brought in record quarterly revenue and achieved a 15.8% adjusted pretax margin that should lead the industry. Thank you to our 23,000 employees for being safe, operating well, and taking care of our guests through our biggest summer travel season ever.”

– Ben Minicucci

President & CEO of Alaska Air Group

Earnings at a glance:

View Alaska Air Group Q2 2024 Earnings

Financial Results



Reported net income for the second quarter of 2024 under Generally Accepted Accounting Principles (GAAP) of $220 million, or $1.71 per share, compared to net income of $240 million, or $1.86 per share, for the second quarter of 2023.



Reported net income for the second quarter of 2024, excluding special items and mark-to-market fuel hedge accounting adjustments, of $327 million, or $2.55 per share, compared to net income of $387 million, or $3.00 per share, for the second quarter of 2023.



Reported adjusted pretax margin of 15.8% for the second quarter.



Repurchased 663,177 shares of common stock for approximately $28 million in the second quarter, bringing total repurchases to $49 million for the six months ended June 30, 2024.



Generated $580 million in operating cash flow for the second quarter.



Held $2.5 billion in unrestricted cash and marketable securities as of June 30, 2024.



Ended the quarter with a debt-to-capitalization ratio of 45%, within the target range of 40% to 50%.

Operational Updates



Reached a tentative agreement with mainline flight attendants that recognizes their outstanding contributions. Voting on the agreement is expected to conclude by mid-August.



Certified substantial compliance with the U.S. Department of Justice’s second request for information regarding our proposed acquisition of Hawaiian Airlines, maintaining open communication with the DOJ during its review process.



Finished the second quarter with a completion rate of 99.5%, among the highest in the industry.



Received six 737-9 aircraft and three 737-8 aircraft during the quarter, bringing the totals within the Alaska fleet to 70 737-9s and four 737-8s.



Received one E175 aircraft during the quarter, bringing the total in the Horizon fleet to 44.



Finished the second quarter with a completion rate of 99.5%, among the highest in the industry.



Added a second 737-800 freighter to Alaska Air Cargo’s fleet and expanded the freighter network with twice-weekly service to Los Angeles.



Purchased a 600,000 square-foot facility in Renton, Washington to serve as the new home for Alaska’s training programs and operational teams following completion of renovations in 2025.



Moved Air Group operations at San Francisco International Airport to Harvey Milk Terminal 1, which will improve guests’ travel experience with advanced technology in the lobby and convenient proximity to our partners.



Enhanced onboard offerings with the return of hot meals to the inflight menu within the Main Cabin.



Began expansion of our lounge at Ted Stevens Anchorage International Airport to offer more than double the seating and improved amenities.

Network and Commercial Updates



Announced 20 nonstop routes to provide guests with more winter travel options, including new service to Vail, Colorado as well as La Paz and Monterrey, Mexico.



Announced seasonal daily service from Portland to New Orleans beginning January 2025, our 55th nonstop destination from Portland.



Expanded partnership with British Airways to offer guests the ability to book nonstop flights between London and multiple U.S. cities directly at alaskaair.com or via the Alaska Airlines app.



Received six 737-9 aircraft and three 737-8 aircraft during the quarter, bringing the totals within the Alaska fleet to 70 737-9s and four 737-8s.

Sustainability Updates



Released our 2023 Sustainability Report, sharing the company’s progress on its goals for sustainability, safety, and our people, as well as highlighting accomplishments and ongoing initiatives.



Launched option for guests to reduce their environmental impact by purchasing sustainable aviation fuel credits in the flight booking path, while also providing Mileage Plan members the ability to earn up to 5,000 elite-qualifying miles annually for their contributions.

Awards and Recognition



Alaska Airlines Mileage Plan named best U.S. airline frequent flier program by WalletHub for 2024.



Named to Forbes’ Best Employers for Diversity list, receiving the highest ranking of all U.S. airlines.



Received the highest satisfaction score for 2024 among all U.S. airlines from the American Customer Satisfaction Index.



As recently released by the U.S. Department of Transportation, Alaska generated the fewest customer complaints per 100,000 guests of any U.S. airline in 2023, finishing 75% better than the industry average and 35% better than the second-ranked airline.

View full financial data

View additional investor update

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Alaska Airlines and Bank of America present a new premium credit card designed for global travelers, the Atmos™ Rewards Summit Visa Infinite® card

Aug 20, 2025 | 12 min read

Alaska Airlines selects Starlink, the fastest Wi-Fi in the sky, to launch new era of connectivity

Aug 20, 2025 | 7 min read

Alaska Airlines teams up with T-Mobile to offer ultra-fast, free Wi-Fi to Atmos™ Rewards members

Aug 20, 2025 | 5 min read

1. Alaska’s First Class has the most legroom in any U.S. domestic airline. Period.

2. Care is absolutely unparalleled.

3. Enjoy fresh, local food choices right at your seat.

4. Connection is better than ever.

5. First Class Lounge Access.

1. British Airways – London

2. Qatar Airways – Doha.

3. Qantas – Sydney

4. Japan Airlines (JAL) – Tokyo

5. Aer Lingus – Dublin

6. Cathay Pacific – Hong Kong

7. LATAM Airlines – Santiago, Chile

8. Condor – Frankfurt

9. Air Tahiti Nui – Papeete

10. Starlux Airlines – Taipei

11. Iberia – Madrid

12. Singapore Airlines – Singapore

13. Porter Airlines – Toronto, Canada

14. Fiji Airways – Nadi

15. Hainan Airlines – Shanghai

16. Korean Air – Seoul

17. Finnair – Helsinki

18. Icelandair – Reykjavik

19. Royal Air Maroc – Casablanca

20. SriLankan Airlines – Colombo

21. Malaysia Airlines – Bangkok

22. Royal Jordanian – Amman

23. American Airlines – Miami

24. Kenmore Air – Friday Harbor

25. Bahamasair – Nassau

26. Cape Air – Bar Harbor

27. Contour Airlines – Marion

28. Aleutian Airways – Dutch Harbor

29. Mokulele Airlines – Waimea-Kohala

30. Southern Airways Express – Pueblo

1. We live in an era of consequence

2. Every business is a climate business

3. Next generation changemakers are here

Summary

SFO Lounge Highlights:

Harvey Milk Terminal 1 at SFO

Additonal details for media:

Related News & Stories

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Alaska Airlines teams up with T-Mobile to offer ultra-fast, free Wi-Fi to Atmos™ Rewards members

A hometown power duo

The team behind the melodies

Alaska Airlines’ custom playlist

More First Class and Premium seating

Meeting demand and enhancing availability

Maintaining convenience with four lavatories

Premium perks when you fly with us

For Media:

Summary

Earnings at a glance:

Financial Results

Operational Updates

Network and Commercial Updates

Sustainability Updates

Awards and Recognition

Related News & Stories

Alaska Airlines and Bank of America present a new premium credit card designed for global travelers, the Atmos™ Rewards Summit Visa Infinite® card

Alaska Airlines selects Starlink, the fastest Wi-Fi in the sky, to launch new era of connectivity

Alaska Airlines teams up with T-Mobile to offer ultra-fast, free Wi-Fi to Atmos™ Rewards members

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