Hawaiian Airlines in the red in 2022 despite robust demand

Hawaiian Airlines, despite robust demand, is still in the red
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Hawaiian Airlines ended 2022 with a net loss despite seeing robust demand on both domestic and international flights. 

In total, the airline’s net loss measures at $240.1 million, despite revenues being only 10.1% lower than compared to 2019. Operating costs, though, increased by 13.8% compared to the same period. 

“The strength of the leisure market was evident as Hawaiian saw robust demand in its U.S. Mainland to Hawaiʻi routes and international routes excluding Japan,” read the carrier’s announcement. Hawaiian Airlines managed to earn 3.2% more revenue during Q4 2022 compared to Q4 2019, despite offering 6% fewer seats throughout the three-month period. 

Looking forward, the Daniel K. Inouye International Airport (HNL)-based airline looks to offer up to between 14% and 17% more seats in Q1 2023, measured in Available Seat Miles (ASM). For the full year, the carrier is expecting to increase its capacity by up to between 9.5% and 12.5%. 

“In building a strong foundation for the future that will make the Company a better airline, it is focused on completing an extensive list of initiatives which include preparing for the launch of freighter operations for Amazon, going live with its new Passenger Service System, offering industry-leading internet connectivity service on its transpacific flights, placing mobile technology in the hands of its guest-facing employees, and flying its new Boeing 787-9 aircraft,” remarked the carrier. 

In October 2022, Amazon and Hawaiian Airlines signed an initial agreement for the latter to operate and maintain 10 Airbus A330F aircraft for the former. The beginning of Hawaiian’s Aircraft, Crew, and Maintenance (ACM) services for Amazon should begin in late 2023. 

In December 2022, the Hawaiian carrier bolstered its order book from Boeing by adding two extra Boeing 787s. The deal, announced in January 2023, also included the provision that the manufacturer would deliver the first 787 of the 12-aircraft order a year later, moving the date of the first delivery from Q4 2022 to Q4 2023. 

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