Hawaiian reports a second quarter net loss of $50 million due to the purchase of 15 717s

Hawaiian Holdings, Inc. (Honolulu), the parent holding company of Hawaiian Airlines, Inc. (Honolulu), reported a consolidated net loss for the three months ended June 30, 2011 of $50.0 million, or $0.99 per basic and diluted share, on total operating revenue of $395.0 million, including the impact of a non-recurring pre-tax lease termination expense of $70.0 million ($42.0 million after-tax) related to the purchase of 15 Boeing 717-200 aircraft previously operated under lease agreements. Excluding the lease termination charge, the Company reported an adjusted net loss of $8.0 million or $0.16 per basic and diluted share for the three months ended June 30, 2011, compared to net income of $9.0 million, or $0.17 per diluted share, on total operating revenue of $315.9 million for the three months ended June 30, 2010.

During the second quarter of 2011, the Company also executed financing agreements for a portion of the purchase prices of the Airbus A330-200 aircraft delivered in April 2011 and the upcoming deliveries of three Airbus A330-200 aircraft currently scheduled for the fourth quarter of 2011, and the first and second quarters of 2012.

Hawaiian Slide Show: CLICK HERE

Copyright Photo: Michael B. Ing. Please click on the photo for information on HA’s new Airbus A330-200s.