Hawaiian Holdings, Inc. (Honolulu), parent company of Hawaiian Airlines, Inc. (Honolulu), today reported its financial results for the first quarter of 2014.
Operating income grew to $10.0 million in the first quarter compared to an operating loss of $11.9 million in the prior year period.
GAAP net loss in the first quarter of $5.1 million or $(0.10) per diluted share compared to a loss of $17.1 million in the prior year period or $(0.33) per diluted share.
Adjusted net loss, reflecting economic fuel expense, in the first quarter of $0.9 million or $(0.02) per diluted share compared to $14.8 million in the prior year period or $(0.29) per diluted share.
Unrestricted cash, cash equivalents and short-term investments of $479 million compared to $438 million in the prior year period.
Liquidity and Capital Resources
As of March 31, 2014 the Company had:
Unrestricted cash, cash equivalents and short-term investments of $479 million.
Available borrowing capacity of $69.5 million under Hawaiian’s Revolving Credit Facility.
Outstanding debt and capital lease obligations of approximately $940 million consisting of the following:
$570 million outstanding under secured loan agreements to finance a portion of the purchase price for nine Airbus A330-200 aircraft.
$150 million outstanding under secured loan agreements to finance a portion of the purchase price for 15 Boeing 717-200 aircraft.
$108 million in capital lease obligations to finance the acquisition of an Airbus A330-200, two Boeing 717-200 aircraft and aircraft-related equipment.
$34 million outstanding under floating rate notes for two Boeing 767-300 ER aircraft (above).
$78 million of outstanding Convertible Senior Notes.
Copyright Photo: Jacques Guillem Collection/AirlinersGallery.com.
Hawaiian Airlines: 
Go back to what you did best, service the west coast and near by major cities, only not the whole Pacific rim. To much air miles in between stops.