Hawaiian Airlines’ earnings triple as fuel costs plunge
COURTESY HAWAIIAN AIRLINES
A Hawaiian Airlines Airbus A330.
Hawaiian Airlines’ earnings more than tripled during the fourth quarter despite lower revenue as fuel prices plunged.
The parent of the state’s largest carrier, Hawaiian Holdings Inc., said today it earned $37.9 million, or 66 cents a share, compared with $11.1 million, or 17 cents a share, in the year-earlier period. Revenue dipped 0.1 percent to $574.2 million from $574.8 million.
Hawaiian, like other airlines that have reported so far this quarter, reported dramatic savings in fuel costs. The company said fuel costs — with hedging expenses factored in — were $60.2 million lower than the year-earlier period.
Fuel hedging, which is similar to buying insurance, reduces volatility by locking in a price to gain protection against future fuel-price spikes. Hawaiian’s fuel cost per gallon decreased 36.6 percent in the quarter to $1.80 from $2.84.
12 responses to “Hawaiian Airlines’ earnings triple as fuel costs plunge”
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Everything is relative.
Here are some of the perks Saudis receive:
-Heavily subsidized gas (It used to be 16 cents a liter. Now it’s gone up to 24 cents.)
-Free health care
-Free schooling
-Subsidized water and electricity
-No income tax
-Public pensions
-Nearly 90% of Saudis are employed by the government
-Often higher pay for government jobs than private sector ones
-Unemployment benefits (started in 2011 in reaction to the Arab Spring)
-A “development fund” that provides interest-free loans to help families buy homes and start businesses.
Perhaps this will all change shortly…….
Stupid Americans like myself feeding the Saudis by cranking the room air conditioning to a cool 62 degrees 24/7, and driving a guzzler SUV with only a six pack in the back.
Homeless at the Honolulu Airport told me to buy HA stocks years ago.
You would think that the consumer would be paying less when the operating costs decline? Nope. Consumers pay the same for a wider profit margin.
pls. inform the big wigs @ HECO!!! they are still charging too much for a 400 sq. ft studio/ no ac – over $100 / amonth… what????!!!
so Hawaiian, how about lowering the fares to give us a break in the cost of flying instead of gauging us again. when the cost of fuel goes up, so does the cost of airfare. so when the cost of fuel goes down, shouldn’t the price of airline tickets go down? just asking.
You’d think, right? It’s not like they lose money and are making up some of their losses.
Why should they, they’re a monopoly.
That will be the day.
I don’t know how Dunkerly and his ilk sleep at night. They have absolutely no shame.
Fuel prices go up and they scream from the roof tops….”We need to raise fares!!!”
Fuel prices go down and …… *crickets.”
Island Air works for our ohana.
Headlines should read: “Air Fares at Hawaiian Airlines Plunges due to low gas Prices”. Passing incredible Savings to it’s customers! Ha!ha!ha!ha!
I only wish …….
Wish our esteemed elected officials are seeing this.& Demanding that the air carrier lower it’s prices for inter-island Travel. At last,Coming to the rescue of their constituents?? Right ,sure.But, I can only Wish. Ha!ha!ha!