Hawaiian Airlines reports $1.7 Million Operating Profit for April 2005

Hawaiian Airlines has reported an operating profit of $1.7 million on revenue of $63.8 million for April 2005, which compares with an operating profit of $7.1 million on revenue of $63.4 million for April 2004.

Hawaiian’s monthly operating expenses in April increased 10.3 percent to $62.1 million versus last year. Higher fuel costs had the biggest impact, increasing by 45.8 percent to $15.0 million compared to April 2004. Labor costs rose 2.3 percent to $18.9 million.

Hawaiian’s Revenue Per Available Seat Mile (RASM) in April declined by 4.5 percent year-over-year, while its Cost Per Available Seat Mile (CASM) increased by 4.6 percent. Adjusted for fuel expenses, CASM decreased by 2.8 percent.

Hawaiian reported net income of $414,000 in April, which compares with $2.4 million in net income for April 2004.

The monthly financial reporting is required as part of Hawaiian’s Chapter 11 status, which will conclude when the airline exits bankruptcy on June 1.

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