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What do breaking the sound barrier, Neil Armstrong and Alaska Airlines have in common?

They are all related to the NASA X aircraft program!

In partnership with NASA, Boeing and other airlines, it was announced earlier this week that Alaska will participate in the Sustainable Flight Demonstrator (SFD) program to help develop the NASA X-66A aircraft. The X-66A is designed to test the Transonic Truss-Braced Wing airframe configuration, which is estimated to reduce fuel consumption and emissions up to 30 percent relative to today’s most efficient aircraft using an airframe with long, slender wings supported by diagonal struts connected to the lower fuselage. This is the first time that an X-plane is focused on helping to achieve the goal of net-zero aviation greenhouse gas emissions.

“At Alaska, we have set an ambitious goal for our carbon emissions to be net zero by 2040, but we know we can’t get there alone,” said Diana Birkett Rakow, senior vice president of public affairs and sustainability. “Decarbonizing aviation is one of the most daunting challenges of our time and will require solutions that don’t yet exist. It’s going to take both the public and private sectors coming together to enable step change innovation. Alaska is committed to playing an active role in solving this challenge which is why we have partnered with pioneers like NASA and Boeing to further aviation sustainability.”

As a partner to NASA and Boeing, Alaska will offer feedback on how the aircraft performs, including operational efficiencies, maintenance, handling characteristics and airport compatibility. The X-planes are a series of experimental U.S. aircraft and rockets that are used to test and evaluate new technologies. The “X” designator within the US system of aircraft designations, denotes the experimental research mission. According to NASA, their history with the X-plane designation dates to the 1940s, when its predecessor agency, the National Advisory Committee for Aeronautics (NACA) jointly created an experimental aircraft program with the Air Force and the U.S. Navy.

“It is inspiring to think of the all the important innovations that have resulted from NASA X-planes – breaking the sound barrier, flying to the edge of space, varying wing sweep in flight, digitizing flight control systems – and to know we will be a part of developing the next generation of commercial aircraft,” said Pasha Saleh, corporate development director and Alaska’s representative to the SFD program, “As we have done for the last 90+ years, Alaska is well positioned to be a pragmatic innovator, designing the future of aviation for the good of the planet.”

Stay tuned for more as the program takes flight!

Hawaiian Holdings Reports 2023 Second Quarter Financial Results: Japan Strengthening Adds to Robust Leisure Travel Demand

HA High Res Logo_mid


HONOLULU — Hawaiian Holdings, Inc. (NASDAQ: HA) (the "Company"), parent company of Hawaiian Airlines, Inc. ("Hawaiian"), today reported its financial results for the second quarter of 2023.

"I want to thank our team members who have been taking care of our guests in a dynamic operating environment," said Hawaiian Airlines President and CEO Peter Ingram . "Demand remains strong throughout our network, and we have recently seen a significant increase in bookings by travelers in Japan , an important geography that has trailed in the recovery of the overall market. Against the backdrop of improving operations and robust demand, I am excited about the major initiatives we're on track to deliver in the second half of the year."

Second Quarter 2023- Key Financial Metrics and Results

   

GAAP

 

YoY Change

 

Adjusted (a)

 

YoY Change

Net Loss

 

($12.3M)

 

+$35.0M

 

($24.1M)

 

+$22.0M

Diluted EPS

 

($0.24)

 

+$0.68

 

($0.47)

 

+$0.43

Pre-tax Margin

 

(2.0) %

 

+5.8 pts.

 

(4.2) %

 

+4.1 pts.

EBITDA

 

$41.6M

 

+$36.6M

 

$26.3M

 

+$25.2M

Operating Cost per ASM

 

14.29¢

 

(10.1) %

 

11.08¢

 

1.9 %

Operating Revenue per
ASM

 

14.10¢

 

(8.0) %

 

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, 2023 , the Company had:

  • Unrestricted cash, cash equivalents and short-term investments of $1.3 billion
  • $1.6 billion in liquidity, including its undrawn $235 million revolving credit facility
  • Outstanding debt and finance lease obligations of $1.7 billion

Revenue Environment

Leisure demand remains historically high; Hawaiian's North America load factor of 90.4% was the highest second quarter load factor for its North America routes since 2017, and Neighbor Island load factor of 75.3% was the highest for the quarter since 2015. In addition to continuing strong US point of sale demand for International travel, Japan -originating traffic increased on Hawaiian's International routes, contributing to an overall 16.2 point increase in International load factor year over year. Operating revenue was up 2.2% from the second quarter of 2022 on 11.0% higher capacity across Hawaiian's network. International revenue increased 160.2% from the second quarter of 2022 on a 141.4% increase in capacity.

Second Quarter 2023 Highlights

Operations

  • Completed the transition of A330 aircraft maintenance from a vendor-managed services agreement to internal resources; self-managed maintenance will allow Hawaiian to exercise greater control over its day-to-day operation and control costs more effectively as the operation grows with the introduction of A330 freighter aircraft

Routes and Network

  • Resumed service between Honolulu and Fukuoka, Japan on April 28 with thrice-weekly service
  • Initiated weekly service to Rarotonga on May 20 , greatly expanding travel opportunities between Hawaiian's 15 gateways on the US Mainland and the Cook Islands

Awards and Recognition

  • Rated the #1 Domestic Airline, for the second consecutive year, in Travel+Leisure's annual reader survey
  • Ranked highest for economy travel customer satisfaction in Consumer Reports ' 2023 Airline Travel Buying Guide
  • Rated Best Domestic Airline for Food in Food & Wine 's Global Tastemaker Awards

Guest Experience

  • Unveiled the Boeing 787 Dreamliner interior cabin design and a new business class product, the Leihōkū suites.  These 34 seats feature flat beds, privacy doors and shared double suites; the aircraft, expected to enter service in 2024, will immerse all guests in cabin design elements that evoke Hawaiʻi's rich natural world through bold textures, island-inspired sunrise and sunset lighting and sinuous ocean and wind patterns

People

  • Promoted Brent Overbeek to Executive Vice President and Chief Revenue Officer and Avi Mannis to Executive Vice President and Chief Marketing Officer; they will jointly lead Hawaiian's commercial strategy
  • Appointed Lokesh Amaranayaka as Vice President of Airport Operations

Environmental, Social and Corporate Governance

  • Invested in United Airlines Ventures Sustainable Flight Fund, an investment fund which prioritizes investments in new technology, advanced fuel sources and proven producers, all in an effort to help scale the supply of sustainable aviation fuel (SAF)
  • Published the 2023 Corporate Kuleana Report, highlighting the Company's progress on Environmental, Social and Governance priorities, including the Company's plans to achieve net-zero greenhouse gas (GHG) emissions by 2050, eliminate single-use plastics from cabin service by 2029, and offer more locally sourced food onboard; the report also highlights Hawaiian's employee diversity, including the highest percentage of women pilots of any major U.S. airline
  • Donated 34 million HawaiianMiles to support Moananuiākea, the Polynesian Voyaging Society's 47-month circumnavigation of the Pacific Ocean on the voyaging canoes Hōkūleʻa and Hikianalia

Third Quarter 2023 Outlook

The table below summarizes the Company's expectations for the quarter ending September 30, 2023 expressed as an expected percentage change compared to the results for the quarter ended September 30, 2022 . Figures include the impacts of the Company's freighter operation, which are not material.

 

Item

 

Third Quarter 2023
Guidance (d)

 

GAAP Equivalent

 

GAAP Third Quarter 2023
Guidance

Available Seat Miles (ASMs)

 

Up 4.5% to up 7.5%

       

Operating Revenue per ASM

(RASM)

 

Down 2.0% to down 5.0%

       

CASM excluding fuel and non-

recurring items (a)

 

Up 7.0% to up 10%

 

Costs per ASM

 

Down 0.7% to down 2.8%

Gallons of Jet Fuel Consumed

 

Up 8.0% to up 11.0%

       

Economic Fuel Price per Gallon

(a)(b)

 

$2.67

 

Average fuel price per gallon,
including taxes and delivery

 

$2.61

Effective Tax Rate

 

~21%

       

 

Full Year 2023 Outlook

The table below summarizes the Company's updated expectations for the full year ending December 31, 2023 expressed as an expected percentage change compared to the results for the year ended December 31, 2022 . Figures include the impacts of the Company's freighter operation, which are not material.

 

Item

 

Prior Full Year 2023
Guidance

 

Updated Full Year
2023 Guidance (d)

 

GAAP Equivalent

 

GAAP Full Year
2023 Guidance

Available Seat Miles (ASMs)

 

Up 9.5% to up 12.5%

 

Up 8.5% to up
10.5%

       

CASM excluding fuel and non-

recurring items (a)

 

Up 1.0% to up 5.0%

 

Up 3.0% to up 5.0%

 

Costs per ASM

 

Down 1.1% to down
2.5%

Gallons of Jet Fuel Consumed

 

Up 12.5% to up 15.5%

 

Up 13.0% to up
15.0%

       

Economic Fuel Price per Gallon

(a)(b)

 

$2.70

 

$2.70

 

Average fuel price
per gallon, including

taxes and delivery

 

$2.66

Capital Expenditures (c)

 

$330M to $380M

 

$265M to $295M

       

 

(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) Fuel Price per Gallon estimates are based on the July 13, 2023 fuel forward curve.
(c) The updated Capital Expenditures guidance results from the change in the Boeing 787 delivery schedule, including pre-delivery payments
and other adjustments
(d) Third Quarter and Full Year 2023 Outlook does not reflect the potential impact from today's RTX (parent company of Pratt & Whitney)
disclosure regarding accelerated inspections of their GTF engines.

 

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 25, 2023 , 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 94th 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 15 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, expectations relating to major initiatives for the second half of 2023; the Company's timing and expectations related to network and route recovery; expectations relating to the impact of self-managed aircraft maintenance; expectations relating to the timing of aircraft entry into service; future domestic and international demand for air travel; the Company's environmental commitments; the Company's outlook for the quarter ending June 30, 2023 and twelve-months ending December 31, 2023 ; 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,

   

2023

 

2022

 

% Change

 

2023

 

2022

 

% Change

   

(in thousands, except per share data)

Operating Revenue:

                       

Passenger

 

$   644,992

 

$   617,463

 

4.5 %

 

$  1,193,518

 

$  1,021,492

 

16.8 %

Other

 

61,936

 

74,402

 

(16.8) %

 

126,013

 

147,587

 

(14.6) %

Total

 

706,928

 

691,865

 

2.2 %

 

1,319,531

 

1,169,079

 

12.9 %

Operating Expenses:

                       

Wages and benefits

 

237,680

 

205,686

 

15.6 %

 

479,613

 

408,785

 

17.3 %

Aircraft fuel, including taxes and delivery

 

166,380

 

226,892

 

(26.7) %

 

364,005

 

377,874

 

(3.7) %

Maintenance, materials and repairs

 

53,657

 

55,967

 

(4.1) %

 

103,943

 

111,617

 

(6.9) %

Aircraft and passenger servicing

 

43,126

 

35,631

 

21.0 %

 

85,658

 

69,446

 

23.3 %

Depreciation and amortization

 

33,348

 

34,333

 

(2.9) %

 

66,015

 

68,088

 

(3.0) %

Commissions and other selling

 

28,391

 

28,615

 

(0.8) %

 

56,630

 

49,262

 

15.0 %

Aircraft rent

 

26,159

 

25,790

 

1.4 %

 

54,330

 

52,066

 

4.3 %

Other rentals and landing fees

 

41,487

 

37,041

 

12.0 %

 

80,207

 

71,652

 

11.9 %

Purchased services

 

37,181

 

33,757

 

10.1 %

 

72,254

 

64,444

 

12.1 %

Other

 

49,099

 

34,242

 

43.4 %

 

83,884

 

69,739

 

20.3 %

Total

 

716,508

 

717,954

 

(0.2) %

 

1,446,539

 

1,342,973

 

7.7 %

Operating Loss

 

(9,580)

 

(26,089)

 

(63.3) %

 

(127,008)

 

(173,894)

 

(27.0) %

Nonoperating Income (Expense):

                       

Interest expense and amortization of debt
discounts and issuance costs

 

(22,705)

 

(24,517)

     

(45,585)

 

(49,554)

   

Interest income

 

13,539

 

6,562

     

30,004

 

10,996

   

Capitalized interest

 

1,945

 

1,060

     

3,404

 

2,112

   

Losses on fuel derivatives

 

(3,658)

 

—

     

(8,724)

 

—

   

Loss on extinguishment of debt

 

—

 

(8,568)

     

—

 

(8,568)

   

Other components of net periodic benefit
cost

 

(1,707)

 

1,274

     

(3,201)

 

2,560

   

Losses on investments, net

 

(3,549)

 

(22,127)

     

(2,852)

 

(34,491)

   

Gains on foreign debt

 

12,174

 

20,556

     

14,434

 

32,318

   

Other, net

 

(920)

 

(2,005)

     

(764)

 

(1,631)

   

Total

 

(4,881)

 

(27,765)

     

(13,284)

 

(46,258)

   

Loss Before Income Taxes

 

(14,461)

 

(53,854)

     

(140,292)

 

(220,152)

   

Income tax benefit

 

(2,126)

 

(6,480)

     

(29,700)

 

(39,500)

   

Net Loss

 

$    (12,335)

 

$    (47,374)

     

$  (110,592)

 

$  (180,652)

   

Net Loss Per Share

                       

Basic

 

$        (0.24)

 

$        (0.92)

     

$        (2.15)

 

$        (3.52)

   

Diluted

 

$        (0.24)

 

$        (0.92)

     

$        (2.15)

 

$        (3.52)

   

Weighted Average Number of Common
Stock Shares Outstanding:

                       

Basic

 

51,587

 

51,356

     

51,547

 

51,322

   

Diluted

 

51,587

 

51,356

     

51,547

 

51,322

   

 

Hawaiian Holdings, Inc.
Consolidated Balance Sheet (unaudited)

   

June 30, 2023

(unaudited)

 

December 31, 2022

   

(in thousands, except shares)

ASSETS

       

Current Assets:

       

Cash and cash equivalents

 

$                226,951

 

$               229,122

Restricted cash

 

17,860

 

17,498

Short-term investments

 

1,083,865

 

1,147,193

Accounts receivable, net

 

94,896

 

113,862

Income taxes receivable

 

1,666

 

70,204

Spare parts and supplies, net

 

47,837

 

36,875

Prepaid expenses and other

 

72,185

 

63,553

Total

 

1,545,260

 

1,678,307

Property and equipment, less accumulated depreciation and amortization of
$1,201,101 and $1,135,262 as of June 30, 2023 and December 31, 2022,
respectively

 

1,966,777

 

1,874,352

Other Assets:

       

Assets held-for-sale

 

2,845

 

14,019

Operating lease right-of-use assets

 

425,069

 

459,128

Long-term prepayments and other

 

106,399

 

100,317

Intangible assets, net

 

13,500

 

13,500

Total Assets

 

$             4,059,850

 

$            4,139,623

LIABILITIES AND SHAREHOLDERS' EQUITY

       

Current Liabilities:

       

Accounts payable

 

$                180,287

 

$               196,009

Air traffic liability and current frequent flyer deferred revenue

 

795,530

 

590,796

Other accrued liabilities

 

177,394

 

182,036

Current maturities of long-term debt, less discount

 

44,063

 

47,836

Current maturities of finance lease obligations

 

19,828

 

25,789

Current maturities of operating leases

 

78,585

 

77,858

Total

 

1,295,687

 

1,120,324

Long-Term Debt

 

1,552,693

 

1,583,889

Other Liabilities and Deferred Credits:

       

Noncurrent finance lease obligations

 

65,393

 

75,221

Noncurrent operating leases

 

315,654

 

347,726

Accumulated pension and other post-retirement benefit obligations

 

142,291

 

135,775

Other liabilities and deferred credits

 

57,961

 

94,654

Noncurrent frequent flyer deferred revenue

 

306,046

 

318,369

Deferred tax liability, net

 

100,308

 

130,400

Total

 

987,653

 

1,102,145

Commitments and Contingencies

       

Shareholders' Equity:

       

Special preferred stock, $0.01 par value per share, three shares issued and
outstanding as of June 30, 2023 and December 31, 2022

 

—

 

—

Common stock, $0.01 par value per share, 51,629,604 and 51,450,904 shares
outstanding as of June 30, 2023 and December 31, 2022, respectively

 

516

 

514

Capital in excess of par value

 

289,828

 

287,161

Accumulated income

 

30,164

 

140,756

Accumulated other comprehensive loss, net

 

(96,691)

 

(95,166)

Total

 

223,817

 

333,265

Total Liabilities and Shareholders' Equity

 

$             4,059,850

 

$            4,139,623

 

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

   

Six months ended June 30,

   

2023

 

2022

   

(in thousands)

Net cash provided by Operating Activities

 

$                111,662

 

$                  31,665

Cash flows from Investing Activities:

       

Additions to property and equipment, including pre-delivery payments

 

(169,354)

 

(16,521)

Proceeds from the disposition of aircraft and aircraft related equipment

 

19,863

 

9,662

Purchases of investments

 

(202,037)

 

(575,191)

Proceeds from sales and maturities of investments

 

275,312

 

635,385

Net cash provided by (used in) investing activities

 

(76,216)

 

53,335

Cash flows from Financing Activities:

       

Repayments of long-term debt and finance lease obligations

 

(36,142)

 

(149,019)

Payment for taxes withheld for stock compensation

 

(1,113)

 

(1,589)

Net cash used in financing activities

 

(37,255)

 

(150,608)

Net decrease in cash and cash equivalents

 

(1,809)

 

(65,608)

Cash, cash equivalents, and restricted cash – Beginning of Period

 

246,620

 

507,828

Cash, cash equivalents, and restricted cash – End of Period

 

$                244,811

 

$                442,220

 

 

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

   

Three months ended June 30,

 

Six months ended June 30,

   

2023

 

2022

 

% Change

 

2023

 

2022

 

% Change

   

(in thousands, except as otherwise indicated)

Scheduled Operations:

                       

Revenue passengers flown

 

2,801

 

2,576

 

8.7 %

 

5,394

 

4,606

 

17.1 %

Revenue passenger miles (RPM)

 

4,346,815

 

3,862,507

 

12.5 %

 

8,190,876

 

6,836,857

 

19.8 %

Available seat miles (ASM)

 

5,014,251

 

4,505,285

 

11.3 %

 

9,928,870

 

8,747,768

 

13.5 %

Passenger revenue per RPM (Yield)

 

14.84  ¢

 

15.99  ¢

 

(7.2) %

 

14.57  ¢

 

14.94  ¢

 

(2.5) %

Passenger load factor (RPM/ASM)

 

86.7 %

 

85.7 %

 

1.0   pts.

 

82.5 %

 

78.2 %

 

4.3   pts.

Passenger revenue per ASM (PRASM)

 

12.86  ¢

 

13.71  ¢

 

(6.2) %

 

12.02  ¢

 

11.68   ¢

 

2.9 %

Total Operations:

                       

Revenue passengers flown

 

2,802

 

2,584

 

8.4 %

 

5,395

 

4,620

 

16.8 %

Revenue passenger miles (RPM)

 

4,346,953

 

3,870,586

 

12.3 %

 

8,192,931

 

6,858,150

 

19.5 %

Available seat miles (ASM)

 

5,014,432

 

4,516,296

 

11.0 %

 

9,931,949

 

8,779,344

 

13.1 %

Operating revenue per ASM (RASM)

 

14.10  ¢

 

15.32  ¢

 

(8.0) %

 

13.29  ¢

 

13.32  ¢

 

(0.2) %

Operating cost per ASM (CASM)

 

14.29  ¢

 

15.90  ¢

 

(10.1) %

 

14.56  ¢

 

15.30  ¢

 

(4.8) %

CASM excluding aircraft fuel and non-
recurring items (a)

 

11.08   ¢

 

10.87  ¢

 

1.9 %

 

11.06   ¢

 

10.97  ¢

 

0.8 %

Aircraft fuel expense per ASM (b)

 

3.32  ¢

 

5.03  ¢

 

(34.0) %

 

3.66  ¢

 

4.31  ¢

 

(15.1) %

Revenue block hours operated

 

52,228

 

47,477

 

10.0 %

 

143,646

 

92,360

 

55.5 %

Gallons of jet fuel consumed

 

66,360

 

57,494

 

15.4 %

 

131,214

 

110,911

 

18.3 %

Average cost per gallon of jet fuel (actual)
(b)

 

$2.51

 

$3.95

 

(36.5) %

 

$2.77

 

$3.41

 

(18.8) %

 

(a) See Table 4 for a reconciliation of GAAP operating expenses to operating expenses excluding aircraft fuel and non-recurring items.
(b) Includes applicable taxes and fees.

 

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,

   

2023

 

2022

 

% Change

 

2023

 

2022

 

% Change

   

(in thousands, except per-gallon amounts)

Aircraft fuel expense, including taxes and
delivery

 

$   166,380

 

$   226,892

 

(26.7) %

 

$    364,005

 

$    377,874

 

(3.7) %

Realized losses on settlement of fuel
derivative contracts

 

2,795

 

—

 

100.0 %

 

4,308

 

—

 

100.0 %

Economic fuel expense

 

$   169,175

 

$   226,892

 

(25.4) %

 

$    368,313

 

$    377,874

 

(2.5) %

Fuel gallons consumed

 

66,360

 

57,494

 

15.4 %

 

131,214

 

110,911

 

18.3 %

Economic fuel price per gallon

 

$          2.55

 

$          3.95

 

(35.4) %

 

$           2.81

 

$           3.41

 

(17.6) %

 

   

Estimated three months ending
September 30, 2023

 

Estimated full year ending December
31, 2023

   

(in thousands, except per-gallon amounts)

Aircraft fuel expense, including taxes and
delivery

 

$           180,093

–

$           185,200

 

$           719,731

–

$           732,654

Realized losses on settlement of fuel
derivative contracts

 

3,759

–

3,759

 

10,432

–

10,432

Economic fuel expense

 

183,852

–

188,959

 

730,163

–

743,086

Fuel gallons consumed

 

68,941

–

70,856

 

270,331

–

275,115

Economic fuel price per gallon

 

2.67

–

2.67

 

2.70

–

2.70

 

 

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 .
    • In February 2022 , the Company received notice from International Association of Machinists and Aerospace Workers (IAM) that the agreement was ratified by its members. The new CBA included a signing bonus of $2.1 million , which was recorded in wages and benefits. During the second quarter of 2022, the Company and the IAM also completed a separation program under the CBA and recognized an additional $2.6 million one-time expense, which was recorded in wages and benefits.
  • 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 , and will now terminate in April 2023 . Upon execution of the MOU, the Company agreed to pay a total of $12.5 million in termination fees, which was recognized in fiscal year 2022. As of December 31, 2022 , the Company had approximately $24.1 million in deferred liabilities to be recognized into earnings over the remaining contract term as contra-maintenance materials and repairs expense. 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.
  • Loss (gain) on sale of aircraft . During the second quarter of 2023, the Company completed the sale of one ATR-42 aircraft and recognized a loss of approximately $0 .4 million on such sale. During the three months ended June 30, 2022 , the Company sold three ATR-72 aircraft and recorded a $2.6 million gain on sale of aircraft, which was recorded 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 related to a refund received on the Company's income tax return. 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.
  • Loss on extinguishment of debt . During the three and six months ended June 30, 2022 , the Company recognized a $8.6 million loss on the extinguishment of its remaining outstanding Series 2020-1A and Series 2020- 1B Equipment Notes. Loss on extinguishment of debt is excluded to allow investors to better analyze the Company's core operational performance and more readily compare its results to other airlines in the periods presented below.
  • 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 loss on equity securities .  Unrealized 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, interest income on tax refund, gain or loss on sale of aircraft, gain on sale of commercial real estate, and loss on extinguishment of debt), 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,

   

2023

 

2022

 

2023

 

2022

   

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

 

$  (12,335)

 

$      (0.24)

 

$  (47,374)

 

$      (0.92)

 

$  (110,592)

 

$      (2.15)

 

$  (180,652)

 

$      (3.52)

Adjusted for:

                               

CBA related expense

 

—

 

—

 

2,574

 

0.05

 

17,727

 

0.34

 

4,678

 

0.09

Contract termination
amortization

 

(5,972)

 

(0.12)

 

—

 

—

 

(24,085)

 

(0.47)

 

—

 

—

Loss (gain) on sale of
aircraft

 

392

 

0.01

 

(2,578)

 

(0.05)

 

392

 

0.01

 

(2,578)

 

(0.05)

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

 

864

 

0.02

 

—

 

—

 

4,416

 

0.09

 

—

 

—

Loss on
extinguishment of debt

 

—

 

—

 

8,568

 

0.17

 

—

 

—

 

8,568

 

0.17

Unrealized gain on
foreign debt

 

(12,106)

 

(0.23)

 

(20,381)

 

(0.40)

 

(14,595)

 

(0.28)

 

(31,963)

 

(0.63)

Unrealized loss on
|equity securities

 

1,486

 

0.03

 

7,920

 

0.15

 

542

 

0.01

 

19,394

 

0.38

Tax effect of
adjustments

 

3,533

 

0.06

 

5,162

 

0.10

 

5,102

 

0.10

 

6,147

 

0.12

Adjusted net loss

 

$  (24,138)

 

$      (0.47)

 

$  (46,109)

 

$      (0.90)

 

$  (135,944)

 

$      (2.64)

 

$  (176,406)

 

$      (3.44)

 

 

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.

 

   

Three months ended June 30,

 

Six months ended June 30,

   

2023

 

2022

 

2023

 

2022

   

(in thousands)

Net Loss

 

$            (12,335)

 

$            (47,374)

 

$          (110,592)

 

(180,652)

Income tax benefit

 

(2,126)

 

(6,480)

 

(29,700)

 

(39,500)

Depreciation and amortization

 

33,348

 

34,333

 

66,015

 

68,088

Interest expense and amortization of debt discounts
and issuance costs

 

22,705

 

24,517

 

45,585

 

49,554

EBITDA, as reported

 

41,592

 

4,996

 

(28,692)

 

(102,510)

Adjusted for:

               

CBA related expense

 

—

 

2,574

 

17,727

 

4,678

Contract termination amortization

 

(5,972)

 

—

 

(24,085)

 

—

Gain on sale of commercial real estate

 

—

 

—

 

(10,179)

 

—

Interest income on tax refund

 

—

 

—

 

(4,672)

 

—

Loss on extinguishment of debt

 

—

 

8,568

 

—

 

8,568

Changes in fair value of fuel derivative instruments

 

864

 

—

 

4,416

 

—

Unrealized gain on foreign debt

 

(12,106)

 

(20,381)

 

(14,595)

 

(31,963)

Loss (gain) on sale of aircraft

 

392

 

(2,578)

 

392

 

(2,578)

Unrealized loss on equity securities

 

1,486

 

7,920

 

542

 

19,394

Adjusted EBITDA

 

$              26,256

 

$                1,099

 

$            (59,146)

 

$          (104,411)

 

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,

   

2023

 

2022

 

2023

 

2022

   

(in thousands, except CASM data)

GAAP Operating Expenses

 

$         716,508

 

$         717,954

 

$      1,446,539

 

$      1,342,973

Adjusted for:

               

CBA related expense

 

—

 

(2,574)

 

(17,727)

 

(4,678)

Contract termination amortization

 

5,972

 

—

 

24,085

 

—

Gain (loss) on sale of aircraft

 

(392)

 

2,578

 

(392)

 

2,578

Gain on sale of commercial real estate

 

—

 

—

 

10,179

 

—

Operating Expenses excluding non-recurring items

 

$         722,088

 

$         717,958

 

$      1,462,684

 

$      1,340,873

Aircraft fuel, including taxes and delivery

 

(166,380)

 

(226,892)

 

(364,005)

 

(377,874)

Operating Expenses excluding fuel and non-
recurring items

 

$         555,708

 

$         491,066

 

$      1,098,679

 

$         962,999

Available Seat Miles

 

5,014,432

 

4,516,296

 

9,931,949

 

8,779,344

CASM – GAAP

 

14.29 ¢

 

15.90 ¢

 

14.56 ¢

 

15.30 ¢

Aircraft fuel, including taxes and delivery

 

(3.32)

 

(5.03)

 

(3.66)

 

(4.31)

CBA related expense

 

—

 

(0.06)

 

(0.18)

 

(0.05)

Contract termination amortization

 

0.12

 

—

 

0.24

 

—

Gain (loss) on sale of aircraft

 

(0.01)

 

0.06

 

—

 

0.03

Gain on sale of commercial real estate

 

—

 

—

 

0.10

 

—

CASM excluding fuel and non-recurring items

 

11.08 ¢

 

10.87 ¢

 

11.06 ¢

 

10.97 ¢

 

   

Estimated three months ending September
30, 2023

 

Estimated year ending December 31, 2023

   

(in thousands, except CASM data)

 

(in thousands, except CASM data)

GAAP operating expenses

 

$              756,598

–

$              794,667

 

$           2,964,027

–

$           3,062,920

Aircraft fuel, including taxes and
delivery

 

(183,852)

–

(188,959)

 

(730,163)

–

(743,086)

Less: non recurring items

 

—

–

—

 

16,145

–

16,145

Adjusted operating expenses

 

$              572,746

–

$              605,708

 

$           2,250,009

–

$           2,335,979

Available seat miles

 

5,188,202

–

5,337,146

 

20,272,836

–

20,646,529

CASM – GAAP

 

14.58 ¢

–

14.89 ¢

 

14.62 ¢

–

14.84 ¢

Aircraft fuel, including taxes and
delivery

 

(3.54)

–

(3.54)

 

(3.60)

–

(3.60)

Less: non recurring items

 

—

–

—

 

0.08

–

0.08

CASM excluding fuel and non-recurring
items

 

11.04 ¢

–

11.35 ¢

 

11.10 ¢

–

11.32 ¢

 

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,

   

2023

 

2022

 

2023

 

2022

Pre-Tax Margin, as reported

 

(2.0) %

 

(7.8) %

 

(10.6) %

 

(18.8) %

CBA ratification bonus

 

—

 

0.4

 

1.3

 

0.4

Contract termination amortization

 

(0.8)

 

—

 

(1.8)

 

—

Gain on sale of commercial real estate

 

—

 

—

 

(0.8)

 

(0.1)

Interest income on tax refund

 

—

 

—

 

(0.4)

 

—

Changes in fair value of fuel derivative contracts

 

0.1

 

—

 

0.3

 

—

Unrealized gain on foreign debt

 

(1.7)

 

(2.8)

 

(1.1)

 

(2.7)

Loss on extinguishment of debt

 

—

 

1.2

 

—

 

0.7

Loss (gain) on sale of aircraft

 

0.1

 

(0.4)

 

0.1

 

(0.2)

Unrealized loss on equity securities

 

0.1

 

1.1

 

0.1

 

1.7

Adjusted Pre-Tax Margin

 

(4.2) %

 

(8.3) %

 

(12.9) %

 

(19.0) %

 

 

 

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SOURCE Hawaiian Holdings, Inc.

Alaska Airlines leads the pack with fewest flight cancellations and top-ranked loyalty program

Today, we announced our financial results from the last three months, and it includes good news for guests, employees, the communities we serve and our shareholders. Dive into all the financial details here, but these are the main takeaways:

We are running a strong, reliable operation.

Our business is complex, but at the end of the day, our 23,000 employees are working together to get you safely from point A to point B.

This quarter, our team was running on all cylinders and carried that momentum into the July 4th holiday week (where we welcomed nearly 1 million guests). On June 30th, we flew the most guests in a single day ever in our history while leading the industry in completion rate (lowest rate of cancellations of any airline) with a 99.59% grade this quarter. We also worked hard to get you to your destination on time – with over 82% of flights arriving within 15 minutes of the scheduled time.

“People are hungry to travel, and our frontline employees are delivering the safe, reliable and caring experience that people expect when they fly with us,” said CEO Ben Minicucci. “I’m so proud of our team for knocking it out of the park and delivering industry-leading operational and financial outcomes. We chose to prioritize reliability, which is imperative to restoring stability, improving predictability for our guests and employees, capturing record revenue, and serving as the foundation for our long-term profitable growth.”

Our investments in new aircraft, training resources and staffing have prepared us to show up well for your important summer travel, and we couldn’t be prouder of our teams.

Our Mileage Plan program ranks above the rest.

Our Mileage Plan program was just recognized as being the best airline rewards program by U.S. News & World Report. It’s no secret to our guests who earn and redeem miles with us that you just get more with our Mileage Plan program compared to other loyalty programs.

Consider using your hard-earned miles on a dream vacation to more than 120 destinations across the United States, Belize, Canada, Costa Rica, Bahamas, Guatemala and Mexico or to more than 1,000 global destinations on our partner airline. Right now, you can fly from Seattle to Tahiti on our partner Air Tahiti Nui starting at just 30,000 miles!

We’re investing back into our business.

Even amid rising costs like fuel, our pre-tax margin (the percentage of money we made after all our expenses but before paying taxes) is likely to lead the industry this quarter. All that means is we’re managing our finances in a way that allows us to weather any future downturns and continue investing in a better guest experience. So, how are we spending the money we made?

Investing in our people

Our employees are the heart of everything we do. We invest in competitive wages and comprehensive benefits, expanded training opportunities and incentives when our team performs well. Because of their industry-leading performance over the last three months, employees earned more than $7 million in a quarterly incentive payout (which we call Operational Performance Rewards (OPR) and is split among all employees). We have also accrued roughly $100 million in the first half of the year towards our end of year Performance-Based Payout (PBP), which rewards employees for their progress on financial, operational and safety goals.

Buying new aircraft

Each month we’re taking delivery of newer, more fuel-efficient aircraft. Of the 251 new planes we’ve ordered, we already have 53 in our fleet. This fresher fleet gives guests that new airplane smell we all love and increases our fuel efficiency by 15-25% compared to previous generation aircraft, to help us reach our rigorous sustainability goals by 2040.

Enhancing the airport experience

We want every guest to enjoy their flying experience from the moment they step into an airport to when they board our aircraft, which is why we’re investing more than $2.5 billion to reimagine and modernize our largest hubs. You can see part of this investment up close in the newly renovated D Concourse Lounge in Seattle, which now has 50% more seating.

New destinations and more communities served

We’ve been on a roll announcing dozens of new routes, from international destinations (like the Bahamas and Guatemala) to increased flights to backyard Pacific Northwest gems in Bend, Yakima, Wenatchee and more. We’re thrilled to connect our guests to more of the places they want to go.

Quarterly reports might sound like they’re only relevant for Wall Street, but when we perform well, it benefits everyone who matters to us. See you next quarter!

Alaska Air Group reports second quarter 2023 results 

Delivered industry-leading adjusted pre-tax margins of 18.3% on record quarterly revenue
Adjusted pre-tax margin exceeds 2019 second quarter results despite higher fuel costs
Achieved industry’s best on-time performance and completion rate in June 

Alaska Air Group (NYSE: ALK) today reported financial results for the second quarter ending June 30, 2023, and provided outlook for the third quarter ending Sept 30, 2023. 

People are hungry to travel and our frontline employees are delivering the safe, reliable and caring experience that people expect when they fly with us,” said CEO Ben Minicucci. “I’m so proud of our team for knocking it out of the park and delivering industry-leading operational and financial outcomes. We chose to prioritize reliability, which is imperative to restoring stability, improving predictability for our guests and employees, capturing record revenue, and serving as the foundation for our long-term profitable growth.

Financial Highlights: 

  • Reported net income for the second quarter of 2023 under Generally Accepted Accounting Principles (GAAP) of $240 million, or $1.86 per share, compared to a net income of $139 million, or $1.09 per share, for the second quarter of 2022.

  • Reported net income for the second quarter of 2023, excluding special items and mark-to-market fuel hedge accounting adjustments, of $387 million, or $3.00 per share, compared to $280 million, or $2.19 per share, for the second quarter of 2022. This quarter’s adjusted results exceed the First Call analyst consensus estimate of $2.70 per share.

  • Generated adjusted pre-tax margins of 18.3%, a 250-basis point increase over the same period in 2019.

  • Recorded $2.8 billion in operating revenue for the second quarter, the highest quarterly total in company history.

  • Received $435 million in bank card partner commissions driven by increased consumer spending.

  • Repurchased 871,987 shares of common stock for approximately $39 million in the second quarter, bringing total repurchases to $57 million for the six months ended June 30, 2023. The company continues to expect share repurchases of at least $100 million in 2023.

  • Generated $610 million in operating cash flow for the second quarter.

  • Held $2.4 billion in unrestricted cash and marketable securities as of June 30, 2023.

  • Ended the quarter with a debt-to-capitalization ratio of 48%, within the target range of 40% to 50%.

Operational Updates: 

  • Received eight 737-9 aircraft and six E175 aircraft during the quarter, bringing the totals in the Alaska and Horizon fleets to 51 and 39, respectively.

  • Announced new routes to Nassau, Bahamas from Seattle and Los Angeles and Guatemala City, Guatemala from Los Angeles, marking six countries that Alaska will fly to and from its West Coast hubs.

  • Launched partnership with STARLUX Airlines, whose flights between Los Angeles and Taipei allow Mileage Plan members to connect to 16 destinations across Asia.

  • Reopened the renovated D Concourse Lounge in Seattle, offering 50% more seating and improved amenities.

  • Completed Intelsat satellite Wi-Fi installation across the Mainline fleet.

Environmental, Social and Governance Updates: 

  • Released the 2022 Care Report, sharing the company’s progress towards its environmental, social and governance goals, as well as highlighting accomplishments and ongoing initiatives.

  • Contributed a retired Q400 aircraft to ZeroAvia to support its development of a hydrogen-electric powertrain system, showcasing Alaska’s commitment to creating a sustainable future for aviation.

Awards and Recognition: 

  • Mileage Plan named Best Airline Reward program for 2023-2024 by U.S. News & World Report for the 9th consecutive year.

  • Presented with the award for “Executive Leadership – North America” at the Airline Strategy Awards in recognition of Alaska’s strong financial performance and operational excellence.

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

  • Scored 100% for the second year in a row in Disability:IN’s Disability Equality Index, which benchmarks companies on their disability inclusion and equality.

  • Rated by KAYAK users as the #1 overall airline in North America, earning the top scores for crew, comfort, food and boarding.

Tune in:

A conference call regarding the second quarter results will be streamed online at 8:30 a.m. PDT on July 25, 2023. It can be accessed at www.alaskaair.com/investors. For those unable to listen to the live broadcast, a replay will be available after the conclusion of the call.

Full earnings financial data:

Statistical data, reconciliations of the reported non-GAAP financial measures, further details regarding results and a glossary of financial terms can be found in our Earnings Release as filed with the SEC.

View full earnings financial data

Stuck in the Passport Backlog? Plan Your World-Class Hawaiʻi Vacation with Alaska Airlines: Here’s Why! 

With extremely long wait times for a new U.S. passport, we’ve got the best vacation for you without ever having to leave the country—and the reasons why we’re the best airline to get you there.  

Looking for seismic activity? Head to the Island of Hawaiʻi. 

Are volcanoes on the brain? Hawaiʻi Volcanoes National Park offers an up close and personal look into how the archipelago was created. Guests can even visit the park after dark to see the glow of flowing lava. Just remember to be a mindful traveler and mālama (to care for) the land and nature while you’re there.  

Book a trip to Kona, Hawaiʻi now! 

Looking for waves? Surf the North Shore of O‘ahu. 

Pack your surfboard and head to O‘ahu’s famous North Shore to catch some waves. Less than an hour drive from Honolulu, the North Shore of O‘ahu offers world class surf breaks – whether you’re on the board or watching from the beach.  

Book a trip to Honolulu, O‘ahu now! 

Looking for a beach? Stroll the shores of Maui. 

No matter if you’re in the market for a romantic stroll, sandcastle building, snorkeling some reefs or exploring unique black sand beaches, Maui has dozens of beaches to choose from. Just imagine enjoying some poke while you watch whales coming and going off the shore.   

Book a trip to Kahului, Maui now! 

Looking for a forest adventure? Explore the wilds of Kaua‘i. 

Ever have the desire to feel like you’re in Jurassic Park (without the dinosaurs)? Kaua‘i isn’t called the Garden Isle for nothing – with stunning canyons and waterfalls and forests to zip through, there’s something for every adventure seeker.  

Book a trip to Līhu‘e, Kaua‘i now! 

Why you should choose Alaska to get you to Hawaiʻi: 

We’re the go-to airline for those looking for affordable flying options, premium experiences, and the best value to Hawaiʻi. Our vast network allows flyers to reach the beautiful islands of O‘ahu, Maui, Kaua‘i, and the Island of Hawaiʻi from almost anywhere along the West Coast and beyond including Anchorage, Los Angeles, Portland, San Diego, San Francisco, San Jose, and Seattle and Paine Field (Everett). 

All our aircraft serving Hawai‘i are equipped with streaming-fast satellite Wi-Fi available for the entire flight for only $8, with coverage over the Pacific Ocean — the only airline fleet that offers streaming-fast coverage to the Islands on every flight. And stay connected to those on the ground with free inflight texting. 

With power outlets at every seat on our aircraft, you can enjoy 800+ free movies and TV shows that can be streamed right to your own devices during the flight. Our extensive library also includes dedicated Hawaiʻi content with travel tips and cultural programming. 

The option to pre-order your inflight meal is available online or via our mobile app up to 20 hours prior to your flight. Reserve that cheese plate! 

Our First Class offers complimentary hot meals based on a seasonal menu with a range of fresh, bright West Coast-inspired flavors and premium beverages. Our expanded First Class menu has up to five options on every flight to Hawaiʻi, macadamia nuts and Mimosas infused with passionfruit, orange, and guava. Flyers in Premium Class can also take advantage of complimentary cocktails, hand-selected wines and local beers.   

Fresh food is available for purchase on every flight in our Main Cabin, with up to five choices, including our guest-favorite Tillamook Cheeseburger (back by popular demand) and a Bibimbab Korean Rice Bowl. Plus, picnic packs and a kids sandwich and exclusively to/from Hawaiʻi.  

First Class and Premium Class guests enjoy early boarding and the most generous legroom of all domestic carriers.  

You can save your seat reservations in advance to ensure you stay close to your loved ones the entire flight. When you fly with Alaska Airlines, we guarantee your family sits together. And we don’t charge you for it.  
 
We also understand that your plans may change for a variety of reasons, and we want you to be able to change your reservation hassle free. That’s why we have NO change fees for tickets purchased or redeemed on alaskaair.com (on any route within our network + Main Cabin and First Class fares). Please note that a fare difference may apply if the rescheduled flight exceeds the value of the original ticket price. 
 

Among the most popular benefits of the Alaska Airlines Visa Signature® card is the annual Companion Fare™. This is a discounted fare that can be used on just about any Alaska flight. Cardholders also enjoy a free checked bag for themselves and up to six other passengers (so a total of seven) in their reservation, triple miles on Alaska purchases, and one mile for every dollar spent on everyday purchases. Sign up today for special offers! 

You can bring home a box of (properly packaged) pineapples. For FREE on Alaska Airlines. But leave the lava rocks where you found them. Trust us on this one. 

You can also take a surfboard or paddleboard case with up to two boards inside for the same price as a normal piece of checked luggage + other sporting for just $30 for the first checked item, which makes flying Alaska one of the most budget-friendly ways to travel with your surfboard. 

Alaska Airlines continues expansion of California network with new nonstop service  between Burbank and San Francisco 

Alaska Airlines, the carrier with the most nonstop destinations on the West Coast, is expanding its network in California with the launch of a new year-round route from Hollywood Burbank Airport to San Francisco International Airport. 

Alaska will offer three peak-daily flights from Burbank to SFO when service begins Dec. 14.  

As the only West Coast-based airline, we’re focused on growing a stronger network for our California based guests – within California and beyond,” said Neil Thwaites, Alaska Airlines’ regional vice-president, California. “We’re excited to give people more ways to connect nonstop between Southern and Northern California with the launch of Burbank to SFO – a route we’ve never flown before. This network expansion is part of Alaska’s broader investment in enhancing the guest experience – from seamless check in, to automated bag drop, to renovated lounges and enhanced onboard offe

This summer, Alaska announced a major expansion of its network, including new international destinations to Mexico, the Bahamas and Guatemala. . More than half of the 15 newly added routes will fly from airports Alaska serves in California. All of the routes, including Burbank to San Francisco, will begin in time for the holidays. 

“Alaska already connects guests from Burbank to destinations across California and along the Pacific Northwest,” said Frank Miller, Hollywood Burbank Airport executive director. “Thanks to Alaska Airlines, they’ll soon be a short flight to Burbank where they can be at a popular amusement park minutes after they land or hop over to scenic San Francisco and go sightseeing along the coast.” 

In California, Alaska operates out of 16 airports throughout the state and offers over 320 peak day flights from our hubs in San Francisco and Los Angeles, as well as our key focus cities of San Diego and San Jose. As the only national airline based on the West Coast, we’ve proudly served our guests throughout California for more than 40 years.  

 ICYM: Here are our two major announcements of where we’re flying, including new seasonal routes from LAX and SEA to Nassau, Bahamas and year-round routes to Latin America.  

Alaska Airlines remains committed to smaller communities: Regional flying coming to several cities this fall  

Since the end of the pandemic, the entire airline industry has been affected by unprecedented pilot attrition causing an industry-wide reduction in flying by regional airlines. This has forced many airlines to make tough decisions when it comes to flight frequencies in smaller communities. While some airlines have completely exited smaller regional markets, Alaska Airlines and Horizon Air, Alaska’s long-time regional airline sister company, have maintained at least minimal service to all the communities we serve.   
 
Last fall, Alaska and Horizon temporarily reduced flight frequency in Walla Walla, Wenatchee and Yakima, Washington to single daily roundtrip service.   

This November, Alaska Airlines will add an additional flight between Seattle and all three cities, due in part to a partnership between Alaska and community leaders.   
 

“We’ve seen regional air service change over the last few years,” said Kirsten Amrine, VP of revenue management & network planning. “To ensure smaller cities remain connected, we have to think creatively. Small communities are extremely important, so working collaboratively with community leaders is key to ensure we’re able to continue providing the service for which we are known.” 

This fall, the airline is also excited to share that it will resume service between Portland and Redmond. Horizon exited the market toward the end of the pandemic due to regional capacity constraints. The regional carrier will operate the route from November 29 through April 10, when the roads between Portland and Redmond can be especially tough to travel due to winter weather.  

This route has been the top ask from both communities and will be highly impactful to the business population that commutes between the two cities,” said Kevin Lemme, general manager of airline planning & network performance. “We’re excited that we can resume service on a winter-seasonal basis.” 

WHEN: Today, July 20, Horizon Air loaded the resumption of PDX-RDM into its flight schedule. Horizon will re-start service between Portland and Redmond on a Winter-Seasonal basis starting later this year. Also, today, Alaska Airlines loaded an additional flight between SEA-YKM and get EAT/ALW/YKM back up to 2 flights daily this fall. 

Mt Bachelor, Bend, OR

How Bristol Bay sockeye salmon flies to your table with Alaska Air Cargo

More than half the world’s sockeye salmon comes from Bristol Bay, where multigenerational fishing families are deeply invested in protecting the sustainable catch

For thousands of families who fish Bristol Bay in Southwest Alaska — the world’s largest sockeye fishery — working the family boat is a rite of passage. The adrenaline of the short season, with tens of millions of fish running into the bay’s six rivers over just a few weeks in June and July, gets many rookies hooked on a lifelong love of fishing. 

Reba Temple was one of those kids who grew up begging her parents to let her fish with them in the bay. 

Her mom and dad started fishing for sockeye in the early 1990s after fishing for years with their parents in Cook Inlet. When Reba was 14, her parents finally brought her aboard the fishing vessel FV Cloud 9.

 

Reba Temple and her mom, Lynn, fishing in Bristol Bay. (Temple family photo)

“My sister and brother and I were the only deckhands, and we were so excited,” Temple said. Her dad ran the boat, and her mom showed them the ropes. ”From the get-go, it was my favorite time of the year.”

Nels Ure was a little younger when he started working on a boat with his dad, who also began fishing the bay in the early ‘90s.  

“When you first start out, it’s chaotic and jarring – and absolutely addicting,” Ure said. “The three to seven days that are the peak, the fish are charging upstream, and you’re going from hundreds of pounds to thousands of pounds in your net. You’re on a 32-foot boat and all of a sudden you’re reeling in 900 to 1,200 feet of net and having to figure out how to get all the fish out of it.”  

More than half the world’s sockeye salmon comes from Bristol Bay, where the state, scientists, fishing industry and Alaska Native tribes work together to sustainably manage the fishery.  

Last year, a record 82 million sockeye returned to the bay. About 600,000 pounds of the 60 million salmon caught were carried fresh out of the Bristol Bay community of King Salmon (AKN) on Alaska Air Cargo freighters, destined for restaurants and grocery stores — and ultimately, diners’ plates — across the country and around the world.  

“I get a little awestruck by the numbers coming in at the peak of the season,” said Shannon Stevens, Alaska Air Cargo sales manager for the state of Alaska.  

The new larger freighters will also be certified to fly long hauls over open water, including from remote communities like King Salmon to Seattle.  

And while most of the Bristol Bay catch is frozen and carried out by barge, Alaska’s cargo team is investing in more payload to feed the nation’s growing appetite for fresh salmon. By the beginning of next year, we will add two new larger freighters, essentially doubling the fleet’s capacity.  

Sustainable for the long haul 

In the ongoing effort to manage the fishery sustainably, the state Department of Fish and Game monitors the returns of each river feeding the bay. For the 2023 season, scientists forecast a total return of about 50 million salmon, well above average, with a net catch of 37 million fish. 

“The long-term goal isn’t about making the big buck just this year,” said Daniel Schindler, a fishery sciences professor at the University of Washington who has studied the salmon habitat for 27 years. “It’s really been about how do we keep the system going for a long, long time.” 

Seattle Chef Renee Erickson sources salmon from sustainable fisheries like Bristol Bay: “We love curing it because it’s so gorgeous.”  

Ure, who lives in Naknek with his wife and young daughter, said the residents of the small communities nestled around the bay are invested in its long-term health. “Fishing supports so many economies: welders, all of the gear shops, net hangers, net menders,” said Ure, noting that fishing buoys local businesses year-round. “You have the actual salmon ecosystem, which is phenomenal, but then there’s an economic ecosystem that the salmon sustain as well,” he says.  

Both Ure and Temple are looking forward to sharing the rush of the summer salmon run with the next generation.  

“It truly is one of the biggest dreams in my life to get to fish with my kids and show them Bristol Bay,” said Temple, who has 2-year-old twins named Bristol and Sam. “I had so much fun spending summers out there with my family.” 

Ure said his daughter is already toddling around the family’s fleet and setnet sites.  

“I can imagine nothing greater than getting to spend our summers together bonding on the water, solving problems, and catching beautiful salmon,” he said.  

¡Hola, Guatemala! Alaska Airlines, LAX’s largest carrier to Latin America, expands to a new destination, Guatemala City

We’ll fly nonstop daily between Los Angeles and Guatemala City starting this December;  plus, new flights to coastal getaway Ixtapa-Zihuatanejo from San Diego and Chicago

Alaska Airlines is expanding where we fly in Latin America with the addition of daily, year-round service between Los Angeles and Guatemala City, Guatemala—an all-new destination for us.

We’ve also added new flights from both San Diego and Chicago O’Hare to Ixtapa-Zihuatanejo, a popular resort destination along Mexico’s Pacific Coast, as we increase our seasonal leisure routes for wintertime travel. Flights are available for purchase now at alaskaair.com for service that begins this December.

These new flights build on our network strength across Latin America. From our hub in Los Angeles, we have the most flights to the most destinations across Latin America of any carrier – which includes up to 18 daily nonstops this winter to 12 cities throughout the region.   

“As the fifth largest carrier in the U.S., we’re a growing airline that’s expanding to more international destinations. Guatemala is a dynamic new country for us and our guests – full of outdoor adventures, history and natural beauty. Our new service will allow families, friends and businesses to better connect between the West Coast and Central America,” said Kirsten Amrine, vice president of revenue management and network planning for Alaska Airlines.

New international service

RouteStart DateEnd DateFrequencyAircraft
Los Angeles-Guatemala CityDec. 14Year-roundDaily737
San Diego-ZihuatanejoDec. 23April 6, 20241x Weekly737
Chicago- ZihuatanejoDec. 23April 6, 20241x Weekly737

Guatemala City is filled with history and architecture. Outside the capital, there’s plenty to explore. The town of Antigua boasts Baroque-style buildings, farm-to-table restaurants and a showcase of art and textiles. Lake Atitlán, formed inside a massive volcanic crater, is a popular destination with its blue waters, stunning hillsides and quaint villages that ring the lake. For adventure seekers, Guatemala is a nation of volcanoes with several that are accessible for hiking and exploring. 

“We’re very excited to welcome Alaska Airlines’ inaugural flight to our country this December,” said Francis Argueta, director general of civil aeronautics of Guatemala. “Guatemala has a lot to offer with its gastronomy, its nature and the beautiful corners of the Mayan world, which will all be a treasure trove of experiences for travelers.”

Our new service to Guatemala City increases our international destinations. We offer flights from LAX and SEA to neighboring Belize, and serve the San Jose and Liberia airports in Costa Rica. This December, we’ll fly from our West Coast gateways to Mexico, Costa Rica, Belize, Guatemala and the Bahamas.

ICYMI: We announced our new seasonal routes from LAX and SEA to Nassau in late June with service beginning on Dec. 15.

We’ve been flying to Mexico for 35 years. It’s a favorite with many of our guests for its culture, cuisine and beaches,” Amrine said. “Our new Saturday nonstops to Zihuatanejo from San Diego and Chicago add to our current Los Angeles and San Francisco service and provide guests with more choices as they plan their winter getaways.”

Lake Atitlan

Maybe Mexico will be calling you this winter. We’ll have four peak-day nonstops to Mexico from San Diego when the new service to Zihuatanejo begins, giving our Southern California flyers even more options when deciding where to catch some rest and relaxation. The weekly flight between Chicago O’Hare and Zihuatanejo is in partnership with ALG Vacations.

Book your next international trip!

Hawaiian Holdings Announces 2023 Second Quarter Conference Call

HA High Res Logo_mid


HONOLULU , July 11, 2023 /PRNewswire/ — Hawaiian Holdings, Inc. (NASDAQ: HA), parent company of Hawaiian Airlines, Inc. ("Hawaiian"), plans to report its second quarter 2023 financial results after the market closes on Tuesday, July 25 , 2023.  An investor conference call is scheduled for 4:30 p.m. EDT ( 10:30 a.m. HST ) that day.

The call will be open to all interested investors through a live audio webcast accessible in the Investor Relations section of Hawaiian's website at HawaiianAirlines.com . For those who are not able to listen to the live webcast, the call will be archived for 90 days on Hawaiian's website.

About Hawaiian Airlines
Now in its 94th 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 15 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. In 2022, the carrier topped Travel + Leisure's 2022 World's Best list as the No. 1 U.S. airline and was named Hawaiʻi's best employer by Forbes. Hawaiian ® 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 .

 

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/hawaiian-holdings-announces-2023-second-quarter-conference-call-301874096.html

SOURCE Hawaiian Holdings, Inc.

Alaska Airlines surprises college student who flew to class three times a week so he could avoid paying rent

It’s not every day you commute to class by plane, but that’s exactly what a University of California, Berkeley student did for an entire year to avoid paying rent in the Bay Area. 

Bill, the super-commuter, who asked for his full name not to be shared, said he flew on 238 flights—mostly with Alaska Airlines—spent a total of $5,592.66 (including parking and public transportation) compared to the estimated $20,000 he would’ve paid in rent. 

He says Alaska’s frequency and Mileage Plan made all the difference. 

“With the frequency and flexibility as well as same-day changes, that was the most valuable perk because I could switch to any flights if I wanted to stay longer and hang out with my friends,” said Bill.

“I had a lot of miles from previous mileage runs or credit card sign-up bonuses with Alaska,” he added. When I started planning this commute, I checked, and there were 850,000 miles in my account.” 

During his eight-month graduate program, Bill flew with our crew often and spent a great deal of time in our Lounges—so much so our Lounge team in San Francisco knows his go-to order is: “ginger beer.”

“They call me ‘Ginger Beer’ because every time I go, I just ask for ginger beer,” he laughed.

After catching up on homework in the lounge, he’d then take public transportation to downtown Berkeley and catch one more ride on a bus or the school shuttle to attend his 10:10 a.m. class. He’d take an evening flight home and land in LA about 12 hours later. He detailed his commute on a now-viral post: “I survived living in LA and commuting to Cal by plane over the past academic year to save on rent.” 

Congrats, Bill—you did it!

Bill earned a graduate degree in May from Cal’s Master of Engineering in Transportation and is now in the national spotlight for his impressive commute from LA to UC Berkeley. He’s been featured in USA Today, KTLA and said he’s lined up to do even more interviews in the coming days. 

We got the chance to catch up with Bill to surprise him with a graduation gift from all of us at Alaska to show our appreciation with a unique Flight Pass Pro Subscription service for one year, which will allow him to travel within California, Arizona, Nevada and Utah so he can always lock in the best deal for when he plans his next commute or adventure ✈️

Alaska Airlines Flight Pass Subscriptions

When asked if he’d ever have the chance to do it again, he says he would. And, says he’d choose Alaska over any other airline because of our frequency and Lounges at LAX and SFO—and because we have flight attendants who really care about their customers.

When we found out about Cal student and Alaska super-commuter, Bill, we couldn’t wait to talk to him about his travels and surprise him with a graduation gift of our unique Flight Pass pro subscription for one-year, which will allow him to travel within California, Nevada, Arizona and Utah.

With his new degree and skillset, Bill says he’d love to be part of the Alaska family someday.

“I’m serious; I would like to work with Alaska if I get a chance,” he said.

And we’d love to have him join our team!

Thanks again for flying with us, Bill—see you in the skies soon.

Ready, set, jet! Tips for travel this busy holiday weekend

If you’re planning to travel during the Fourth of July holiday, below are some tips to help make your trip smoother and more enjoyable.

This weekend, we expect full aircraft, busy airports and lots of guests. If you’re one of thousands of Alaska Airlines guests traveling on our flights this summer, make your trip even better by taking a few key steps to save time during one of the busiest travel seasons of the year and please remember be kind and respectful to those helping you get from point A to point B. We’re here to help you every leg of the way!

Check in:

Use the Alaska Airlines mobile app to check in beginning 24 hours before your flight.

Guests should check-in and get a boarding pass on the Alaska app or online at alaskaair.com before heading to the airport. You can download a mobile boarding pass to your phone, text it to yourself, or even print one before arriving to the airport.

Know when to arrive:

Give yourself plenty of time to get to and through the airport. We recommend arriving at the airport 2 hours before a domestic flight and 3 hours for international.

Heads up: Some of our hub airports—including Seattle—are undergoing construction that may increase congestion. Parking might also be limited.

Pay for bags ahead of time:

Avoid lines at the airport and pay for up to three checked bags in the Alaska mobile app or on alaskaair.com. You may qualify for complimentary bags if you’re an Alaska Airlines credit card holder, U.S. military personnel or have Elite or oneworld Alliance® status. Learn more about our baggage policies.

With new Bag Tag Stations coming to every airport we serve, you’ll be able to quickly pay for and tag your bags and go. Pro tip: If you’re flying with just a carry on, skip the lobby and head straight to security with your mobile boarding pass.

Get in touch with us:

If you’re an Alaska Mileage Plan member, set up communication preferences in your account profile. Our Reservations team can easily update you if your flight schedule changes due to something like weather. You can receive notifications through the app, email and text (to request more info, simply text HELP to 252752).

Pre-order meals before your flight:

Reserve your favorite meal on the app or online up to 20 hours before your departure. We’ve filled our flight menu with a range of fresh, bright flavors inspired by the West Coast food scene and serve freshly prepared meals and snacks for breakfast, lunch and dinner—always including a vegetarian option.

Alaska Airlines Inflight Menu
Enroll in a Trusted Traveler program:

Programs like TSA’s Global Entry and Pre-Check provide expedited screening that reduces your time in the security line and comes with a few other perks including allowing children between 13-17 to enter with an enrolled parent. CLEAR members also rarely worry about being late because they’re always at the front of the security line. Mileage Plan members can now enroll for a CLEAR Plus membership at a reduced rate and receive bonus miles. And our hometown airport, SEA, offers a program called Spot Saver to save a spot in the security line.

Get to your gate faster with CLEAR Plus and enjoy exclusive discounts as a Mileage Plan™ member.

Request special assistance:

If you need special assistance while traveling, you can request it online or call our dedicated accessible services line at 1-800-503-0101 (dial 711 for relay services). Request wheelchair assistance, add a trained service animal to your trip and more.

Download our free mobile app called Fly for All on the App Store and Google Play, designed for those with cognitive and developmental disabilities, first-time flyers, and unaccompanied minors.

Recharge in our Lounges:

Experience unparalleled airport Lounge service in a quiet space to relax and recharge, or get a little work done between flights in Seattle, San Francisco, Los Angeles, New York – JFK, Portland, or Anchorage to relax before your flight. Lounge members can access the lounge with their digital membership card, available in our mobile app.

Alaska Airlines Lounges
Our well-loved Seattle D Concourse Lounge has reopened after a massive makeover (ICYMI: check it out!).

Stream & text in flight:

Snuggle into your seat and choose from over 800 free movies and TV episodes in our entertainment library. Most aircraft feature our streaming entertainment system, letting you watch free movies and TV shows on your own device. Simply connect to our onboard Wi-Fi network during your flight, and visit AlaskaWiFi.com to see browse our extensive library.

On most flights, you can also purchase our streaming-fast satellite Wi-Fi for just $8. And, enjoy free texting while you fly, by simply connecting to our Wi-Fi.

Earn miles every time you fly:

Make sure your Alaska number is listed with your flight so you can earn miles for every flight you take with Alaska Airlines or any of our partner airlines. Not a member? Join today.

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