alk tail logo

Alaska Airlines

Alaska

HA tail logo

Hawaiian Airlines

Hawaiian

Q
magnifying glass with dark circle in the middle.
Sign up for news

News Hub

Alaska Airlines’ statement on extension of the AS+HA acquisition regulatory review period through August 20, 2024

AS-logo-002

Since January of this year, Alaska Airlines and Hawaiian Airlines have been cooperatively engaged with the U.S. Department of Justice (DOJ) as it reviews the proposed combination of our two airlines. The parties agreed to an extension of the formal review period which was set to expire on August 16. Today, we have agreed to another extension through 12:01 am ET, on Tuesday, August 20. We continue to believe this combination will enable a stronger platform for growth and competition in the United States, long-term job opportunity for employees, and continued investment in local communities and environmental stewardship. We will continue to cooperate with the DOJ in this review process.

Surf and Service: Recognizing a Decade of Honolulu’s Sister-City Relationship

In 2014, Honolulu established its sister-city relationship with Chigasaki, Japan, known for its thriving surf community and "laid back" lifestyle. A year prior, the Japanese city made Aloha Shirts the official summer wear. In commemoration of the 10th anniversary of the agreement, Hawaiian Airlines proudly sponsored the "2024 Honolulu Mayor's Cup" surf contest on July 27 at Nishihama Beach for surfers ages 15 and under, representing surf clubs in Chigasaki.

DSC_0189

A young surfer catches a wave at the "2024 Honolulu Mayor's Cup" surf contest sponsored by Hawaiian Airlines


"We're very grateful to take part in this honorable event. Although miles apart, our oceans connect our two cities and it's also what connects us here today, and I look forward to continuing our support of bridging the similar cultures of Chigasaki and Honolulu,” said Hawaiian Airlines Country Director Toru Sakaguchi during the opening ceremony.
 

IMG_8336

Japan Country Director Toru Sakaguchi gives remarks to the crowd at the 2024 Honolulu Mayor's Cup


To give young Japanese surfers a chance at trying their skills in Hawaii's waters, Hawaiian awarded three contest winners 80,000 HawaiianMiles, equivalent to a round trip flight between Tokyo and Hawaii. Once the contest concluded, all 120 attendees, including employee volunteers with the airline, city officials, and community members, dispersed across the beach for a clean-up effort organized by Hawaiian.

IMG_8416

Hawaiian Airlines' employees participate in the beach cleanup at Nishihama Beach in Chigasaki


“At Hawaiian, caring for our coastlines and promoting sustainable activities is vital, not only to our employees but to the communities we serve,” said Keiko Tsukui, Hawaiian’s manager of Japan partnerships and promotions. “We’ve hosted several beach cleanups in Japan, as well as transported Japanese students to Honolulu to assist in a cleanup at Ala Moana Beach Park. We take pride in educating our youth on the importance of traveling pono (responsibly) through these combined efforts.”

Alaska Airlines’ statement on extension of the AS+HA acquisition regulatory review period through August 16, 2024

AS-logo-002

Since January of this year, Alaska Airlines and Hawaiian Airlines have been cooperatively engaged with the U.S. Department of Justice (DOJ) as it reviews the proposed combination of our two airlines. Late last month, the parties agreed to an extension of the formal review period until August 15. Today, we have agreed to an additional 24-hour extension. We continue to believe this combination will enable a stronger platform for growth and competition in the United States, long-term job opportunity for employees, and continued investment in local communities and environmental stewardship. We will continue to cooperate with the DOJ in this review process.

Alaska Airlines celebrates the opening of Portland’s spectacular new terminal

We’ve invested in new technology in Portland to improve our guests’ travel experience; we’ve been the largest carrier at PDX for more than 20 years, now with 110 peak daily flights 

Alaska Airlines is excited to partner with Portland International Airport for the grand opening today of its beautifully renovated, world-class terminal that has been years in the making. In conjunction with the terminal opening, Portland is our first location where we’re using our new proprietary and innovative technology and processes to transform the airport experience and move our guests more seamlessly through the lobby and into security in five minutes or less. 

“As our second largest hub, Portland is an essential part of Alaska’s future. Our deep collaboration and joint investment with the Port of Portland on this new world-class terminal highlights our focus on improving how our guests travel.”

– Shane Jones, senior vice president of fleet, revenue products and real estate at Alaska Airlines.

“With nearly 90% of our passengers now checking in before they arrive at the airport, we’ve launched our lobby of the future experience in Portland which simplifies dropping off bags and gets guests quickly through the lobby so they can enjoy everything the new terminal has to offer,” said Charu Jain, senior vice president of innovation and merchandising at Alaska Airlines. 

We’re highlighting advancements in technology that allow autonomy for our guests—giving them the option to travel the way they want to. It starts with dropping off checked bags. Our custom Apple iPad-powered bag tag stations print tags with just the scan of a mobile boarding pass. We’ve partnered with Embross, a leader in self-service technologies, to make it easy for our guests to use Automated Bag Drop stations that scan and accept their checked baggage. This includes securely matching travelers to their government-issued IDs without standing in line for an agent.  

The PDX bag drop experience leverages some of the latest innovations in computer vision to deliver the convenience and efficiency of automated bag processing while also ensuring user safety and security compliance to TSA ID-check requirements,” said Myles Tzelepis, chief technology officer at Embross. 

Caring for our guests is always a priority. Our dedicated customer service agents, known for going above and beyond, will continue to be on hand in our lobby to troubleshoot potential issues and help those who may need assistance getting their bags checked in. 

Download photos from our press kit here.

We’ve been the largest carrier in Portland for more than 20 years—and we keep growing. Alaska and Horizon Air flights have increased by 17% from 2023 to 2024. That translates to 110 peak daily flights to 55 nonstop destinations from PDX, with 29 of those locations served exclusively by Alaska, providing a crucial transportation link to smaller cities and communities. We recently started new nonstop service to Miami and Nashville from PDX, and in the coming months, we’re adding nonstop flights to Atlanta and New Orleans. 

The new PDX was designed to double down on everything travelers love about our airport,” said Dan Pippenger, chief aviation officer at the Port of Portland. “Our partners at Alaska Airlines understood that vision from the beginning and helped us build a new main terminal that both improves the travel experience and celebrates our region.”  

There are more good things on the horizon at PDX for our guests. Our all-new Lounge in Portland will bring guest favorites to more than 12,000 square feet of space, all with a modern Pacific Northwest vibe. The new Lounge is scheduled to open in 2026, and it will include a barista station, a cozy fireplace setting and great views of the new terminal. 

Alaska Airlines announces investment in JetZero to propel innovative aircraft technology and design 

JetZero’s pioneering blended wing body aircraft contributes to aviation’s sustainability journey with significant improvements in fuel efficiency

Alaska Airlines announced today an investment in JetZero, a pioneering company developing a new blended-wing body (BWB) aircraft that will provide up to 50% less fuel burn and lower emissions. The investment reflects Alaska’s commitment to advance new technology that will benefit the future of aviation, including those that enable the airlines’ path to net zero carbon emissions. Alaska invested as part of JetZero’s Series A last year and is the first airline to do so.  

Download rendering above

The investment, which includes options for future aircraft orders, was made through Alaska Star Ventures (ASV), the airline’s investment arm whose purpose is to influence the future of the aviation industry. ASV is focused on identifying and enabling the technologies that can help Alaska reach its ambitious goal of net zero carbon emissions by 2040. This initiative is one piece of Alaska’s comprehensive sustainability strategy along with operational efficiency, fleet renewal, sustainable aviation fuel, waste reduction, and electrified aircraft. 

At Alaska, we are always looking for ways to innovate and shape the future of air travel for our guests, employees, and industry.” said Diana Birkett Rakow, senior vice president of public affairs and sustainability at Alaska Airlines. “We are proud to invest in JetZero’s development of this innovative next-generation aircraft, with a significant step-change in fuel efficiency. We and JetZero share a vision for more sustainable aviation, and we are excited to partner with them in creating that future.” 

JetZero’s BWB aircraft stands out with its innovative design that integrates the wings and fuselage into a single smooth shape, greatly reducing aerodynamic drag. Due to an expected 50% fuel reduction compared to the current tube-and-wing design, the BWB will result in potential lower carbon emissions and operating costs. The aircraft’s spacious interior will enable innovative seating arrangements with benefits to passenger comfort, such as a quieter and more enjoyable flying experience. Its unique shape will significantly reduce weight and drag and offers great promise in contributing to a more sustainable future in aviation. 

“The biggest challenge for airlines is lowering fuel burn and emissions. Of all the great new technologies in work, the BWB design delivers the biggest impact by far. Airlines will see immediate benefit in cost savings, dramatically lower emissions and improved customer experience, compared to airplanes flying today.” Said Tom O’Leary, CEO and co-founder, JetZero. “We’re thrilled to welcome Alaska to our team of innovators, and our belief that this aircraft will reshape aviation.”   

While the BWB design is not new, JetZero has shown unique leadership in collaborating closely with the United States Air Force, NASA, and the FAA to develop its revolutionary blended wing aircraft and ultimately bringing it to market.   

Photos courtesy of JetZero

Our EverGreen journey

Alaska Airlines has always focused on running our business to care for all who depend on us, including our planet. We strive to reduce our negative impacts on the environment, increase our positive ones, and inspire others to be part of the solution.

Learn more

  

Chef Brandon Jew of Michelin-starred Mister Jiu’s cooks up new First Class menu for Alaska Airlines

Our partnership with Chef Brandon Jew of Michelin-starred Mister Jiu’s takes our First Class menu to new heights 

Alaska Airlines is set to redefine its First Class dining experience with the launch of an exciting chef partnership starting this month. The collaboration with Brandon Jew, an acclaimed chef and owner of San Francisco’s Michelin-starred Mister Jiu’s restaurant, will bring an exclusive menu to our guests seated in First Class between San Francisco International Airport (SFO) and New York’s John F. Kennedy International Airport (JFK).*

Starting Aug. 14, guests will be able to preorder from the special menu, which features a series of Chef Jew’s signature dishes, including his take on the classic Chinese breakfast porridge known as congee, black cod cooked to perfection with a side of silken tofu and tender slow-braised duck served with savory sesame egg noodles.

We’re using the same high-quality poultry from Liberty Farms in Sonoma County that is featured at Mister Jiu’s as their trademark Peking Style Whole Roast Duck, as well as other Michelin rated restaurants around the world. Each First Class dish was exquisitely crafted by Chef Jew, who is known for blending local and seasonal produce from the San Francisco Bay Area with classic Chinese techniques and flavors. The results are exquisite dishes that are both nostalgic and creative. 

This collaboration continues our momentum of elevating our already premium First Class dining experience. At Alaska, our long history of partnerships with strong West Coast brands, including Salt & Straw, Ellenos, Beecher’s Handmade Cheese and Stumptown, allows us to serve our guests the best of the region’s flavors and local ingredients. 

We’re grateful to Chef Jew for his partnership in this exciting initiative and ongoing commitment to elevate the travel experience for our guests with sky-high hospitality and world-class cuisine,” said Todd Traynor-Corey, managing director of guest products at Alaska Airlines. “Our relationship with Chef Jew traces back several years ago, including working together to give back to the residents of San Francisco’s Chinatown. His commitment to quality, gastronomic craftsmanship and philanthropy aligns perfectly with our values.” 

We’re making Chef Jew’s dishes, inspired by his Cantonese heritage and vibrant San Francisco food scene, available to our First Class guests between SFO and JFK starting on Aug. 28*. The partnership will run for at least one year with seasonal rotations. 

Through this partnership and in support of Chef Jew’s charitable efforts to the community, we are donating $5,000 to Gum Moon Women’s Residence, a local non-profit that was established to address the unmet needs of women and children in geographic and social transition. 

I’m so excited to partner with Alaska Airlines on their First Class flight menu, connecting my hometown of San Francisco with New York, a city where I’ve always dreamed of living in,” said Chef Brandon Jew. “Luxury begins with quality ingredients, which underscores our shared values. At Mister Jiu’s we are always evolving and defining Chinese American cuisine in the Bay Area while advocating for the global recognition of Chinese food — the partnership with Alaska Airlines elevates Chinese cuisine from coast to coast.” 

Chef Jew recently maintained a Michelin star for his restaurant, located in the heart of San Francisco’s Chinatown, for a seventh year in a row. As the executive chef and owner of contemporary Chinese American restaurant Mister Jiu’s and Mamahuhu, Chef Jew combines local, seasonal and organic bounty of the San Francisco Bay Area with classic Chinese techniques and flavors. His training spans from Bologna, Italy to Shanghai, China and many restaurants within the Bay Area.  

All our guests, no matter where they sit, can enjoy a premium culinary experience when traveling on Alaska. Fueled by our industry leading pre-order program, our inflight menu continues to offer more choices than any other U.S. airline. We recently added hot meals made with fresh and locally sourced ingredients to our Main Cabin menu on flights over 1,100* miles. Guests can now choose from up to five chef-curated dishes, including at least one hot meal option. Along with our freshly prepared food offerings like our Signature Fruit & Cheese Platter, our hot meals are only available for pre-order purchase.  

Full First Class Chef Brandon Jew Curated Menu 

Route: SFO to JFK, JFK to SFO

Breakfast: Brown rice congee with soy cured eggs and braised pork belly. Served with a turnip cake, pickled cauliflower, hoisin and a hot chili sauce. 

Route: SFO to JFK

Lunch/Dinner: Liberty Farms braised duck leg, sesame egg noodles and gai lan. Served with wood ear mushrooms, tofu skin and cucumbers. 

Route: JFK to SFO

Lunch/Dinner: Roasted black cod topped with ginger-scallion sauce and silken tofu and mapo sauce, on top of a quinoa & farro blend with roasted shitake mushrooms. 

For our press kit, including still images and b-roll, click here. 

*Hot meal options may not be available on some flights, including redeye flights or where catering is not available 

How AI is helping Alaska Airlines plan better flight routes and lower emissions 

Planning a trip can be complex with so many factors to think about, such as weather, routes, timing and efficiency. Here at Alaska, we sift through tons of data to make sure every flight is safe and efficient. As part of the ongoing journey to innovate and ensure a great travel experience for our guests, we’ve renewed our partnership with Air Space Intelligence (ASI). They use artificial intelligence to optimize flight paths and cut down on emissions via their Flyways AI Platform.  

ASI’s Flyways AI Platform utilizes advanced algorithms and machine learning to analyze vast amounts of data, including weather patterns, winds, turbulence, airspace constraints and air traffic volume. Flyways AI then generates optimized route recommendations for dispatchers and pilots that are safe, ATC compliant, minimize fuel consumption, reduce flight time and avoid potentially congested airspace. Additionally, the Flyways Dispatch application offers real-time insights and decision-making support to our dispatchers, empowering them to proactively manage flights and respond to events before they have the potential to impact flights.

“Being a dispatcher requires attention to detail, problem-solving skills, and quick thinking. Our incredible dispatchers are responsible for planning and monitoring every flight, ensuring the safety and comfort of our guests and crew. It can be challenging to deal with unpredictable factors like weather, traffic, and timing, but we always strive to find the best solutions,” said Captain Bret Peyton, managing director of network operations control, Alaska Airline. “That’s why we are grateful to have Flyways AI to help us optimize our routes, save fuel, and reduce carbon emissions. Flyways AI gives us more confidence and flexibility in our decisions and allows us to focus on delivering excellent service to our guests.” 

For the last four years, we have utilized the Flyways AI platform and the Dispatch application in our Network Operations Center to optimize flight routes, reduce fuel consumption and carbon emissions, as well as improve on-time arrivals. On average Flyways AI has presented optimization opportunities for 55 percent of Alaska’s flights and delivered three to five percent fuel savings and emissions reductions for flights longer than four hours. Specifically last year, optimized routes using Flyways saved over 1.2 million gallons of fuel, equivalent to 11,958 metric tons o of CO2 emissions. The savings Flyways delivers helps us work toward our near-term goal of being the most fuel-efficient U.S. airline by 2025, and long-term goal of net zero carbon emissions by 2040.  

We are excited to continue working with ASI to expand the use of Flyways AI across our network and explore new ways to leverage AI to enhance our operations and service. We believe that Flyways is a game-changer for the aviation industry and a win-win for our guests, our employees and our planet. 

Alaska Airlines programs build community, opportunity for Hawaiʻi’s aspiring pilots

Erikah Dowells dreamt of a career in the skies.

“The feeling of being in the air, being over the water in a jet—seeing the world from that point of view is something that has always interested me,” she said.

Growing up in Hawaiʻi, Erikah often traveled between Maui and Hawaiʻi Island to visit family. At age 12, she participated in an Organization of Black Aerospace Professionals program that further ignited her passion for a career as a pilot.

However, as Erikah approached college graduation, she was uncertain about her next step. Commercial pilot training can exceed $100,000, and she didn’t know anyone who could guide her through the demanding career pathway.

That changed when Erikah met representatives of the Horizon Air Pilot Development Program. She attended an informational session at her school and was offered an interview on the same day. Founded in 2016, the program provides aspiring pilots with mentorship, networking opportunities, an educational stipend, and a clear path to a career as a Horizon Air first officer.

The Pilot Development Program is one of three pilot training initiatives offered by the Alaska Air Group. The second, Ascend Pilot Academy, supports students starting their training. The newest program, True North, is a first-of-its-kind recruitment program aimed at hiring BIPOC pilots.

“When I think about our pilot programs, we’re trying to fill our pipeline, reach underrepresented populations, and create pathways for career advancement,” said Deja Hubbard, Director of Talent Acquisition Outreach at Alaska Airlines. “We want to make sure people who don’t normally have access to becoming pilots have a pathway.”

For Erikah, joining the Pilot Development Program was transformative.

“I felt kind of lost before I joined the program,” she said. “They’re so supportive. I was assigned a mentor who is also from Hawaiʻi, who helped me become a flight instructor.”

Alaska Airlines also offers pilot internship opportunities to college students and recent graduates. Bianca Vasquez-Abarca grew up on Maui and earned her private pilot’s license while attending King Kekaulike High School. In 2023, she received an Alaska Airlines Foundation scholarship through the Latino Pilots Association.

Bianca is currently completing an internship at Alaska’s headquarters in Seattle. A standout moment of her internship was flying in the cockpit jumpseat during a “Milk Run” flight up the Southeast Alaska coast.

“Alaska and Horizon run great operations, are supportive, and have mentorship,” she said. “They’re involved with your journey. They truly care about your success. And they care about getting you from where you are to where you need to be.”

Bianca plans to build on her experience at Alaska as she pursues a career in military aviation.

“I’ve grown so much professionally,” she said. “To be immersed in the airline lifestyle and operations has been such a unique experience and I’m sure a lot of people back home in Hawaiʻi would benefit from it as well.”

Oʻahu resident Apryl Binuya entered the Pilot Development Program in 2021 after earning her private pilot’s license in Hawaiʻi in 2019.

“The Pilot Development Program was recruiting in Hawaiʻi, and I was already looking for an airline with a culture I could identify with,” said Apryl. “I wanted to go to a company where I knew I wanted to go to work every single day and Alaska came out on top really easily.”

“From day one, I was connected with a mentor who was really diligent about checking in,” Apryl continued. “I was supported throughout the two years I was training. Alaska doesn’t just say they support pilots—they follow through with their actions.”

After completing her commercial pilot certifications out-of-state, Apryl returned to Hawaiʻi, gained experience flying for Mokulele Airlines, and later joined Horizon. She currently commutes from Honolulu to Anchorage, where she serves as a Horizon first officer.

Erikah is set to follow Apryl’s path. After working as a flight instructor on Maui and in Arizona, she will begin training to become a Horizon first officer later this month. She hopes to continue her career in Hawaiʻi and aims to expand aviation opportunities for local middle- and high-school students.

“It’s about building a community,” Erikah said. “I think initiatives like the Pilot Development Program show Alaska’s biggest priority is making sure that people aren’t deterred from becoming a pilot just because it might be challenging. They want to see the next generation succeed.”

Become a pilot with Alaska Air Group

Applications for the Horizon Air Pilot Development Program, Ascend Pilot Academy, and True North Pilot Development Program open quarterly. Applications for the Horizon Air Pilot Development program are open August 1-September 30, 2024. Applications for the Ascend Pilot Academy will open October 1-7, 2024. The True North Pilot Development Program’s next application period will begin in November 2024.
For more information on pilot careers at Alaska Airlines and Horizon Air, click here. 

Cargo Cares: Delivering Aloha and Smiles so Local Businesses Can Thrive

While we take great pride in safely transporting our guests to their destinations, our Cargo team is equally proud of its role in getting goods to where they need to be. As a company rooted in Hawai‘i, the relationships we form and nurture with local businesses are key to our mutual success.

Kahea Kaaihili, the owner of Mokuwai Piko Poi, is a fourth generation kalo farmer from Waipi’o Valley on Hawai’i Island. Her ‘ohana have been growing kalo and processing poi for generations through a small commercial kitchen in Honoka’a.

When Kahea agreed to sell her poi pops to Kahumana, a nonprofit organization in Wai’anae, O’ahu, and a sponsor of the summer feeding program Kaukau 4 Keiki (K4K), nervousness  set in because it was the company's largest order and shipment to date.

Her concerns quickly turned to relief when she arrived at Hawaiian's Hilo cargo facility.

"We have been on both ends of shipping as well as receiving for many years now. However, this summer as we partnered with the Kahumana team for the Kaukau 4 Keiki program, the staff at Hilo Hawaiian Air Cargo were even more amazing than they already are! They were the greatest cheer squad and always wanting to know how many Poi Pops we were sending. They were so excited for our keiki of Wai’anae and helped to keep us excited even on the harder days," said Kaaihili.

image2

Kahea Kaaihili, the owner of Mokuwai Piko Poi, at Hawaiian Air Cargo in Hilo

The K4K program provides nutritious meal boxes with only locally sourced items for keiki to make a weeks' worth of breakfast and lunch meals at home during the summer school break. The K4K boxes are distributed at no cost to keiki in rural areas that meet the eligibility requirements of free and reduced meals at Hawaii’s public schools, including the entire Leeward Coast of Wai’anae.

By the end of the K4K program in late July, Mokuwai Piko Poi had shipped 42,000 poi pops to Kahumana.

“Living in Hawaiʻi we use the word aloha so freely. However, the employees of Hawaiian Air Cargo Hilo practice it. What a blessing it is to know that we have the employees of Hilo Hawaiian Air Cargo supporting and encouraging Mokuwai Piko Poi to follow our dreams of providing poi for our people," Kaaihili added.  "[They] helped us in transporting our poi with so much aloha and made the distance [between islands] so effortless."

Hawaiian’s Hilo Cargo team has also been helping Hula Brothers get lychee, longan and rambutan from its Kea‘au farm to markets in Hawai‘i and on the U.S. West Coast for more than five years.

"They take care of my product and try to get it on the plane as fast as possible. I don't know all of their names all the time, but they know mine. They've helped us a lot," said Bob Hamilton, owner of Hula Brothers.

The relationship between our team and our clients is key to ensuring our local businesses and communities thrive.

Jennifer Gouviea, cargo chief agent at Hawaiian’s Hilo station shares, “It feels really good to support local because we’re helping to get their products to various destinations. Of course we’re going to support them, no matter what.”

Featured image: Kahea Kaaihili, the owner of Mokuwai Piko Poi, with her daughter and Hawaiian's Eddie Kalima and Jason Ryusaki.

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

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

HA High Res Logo_mid

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) %

 

Cision 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

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
Loading...