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The Honolulu Advertiser

Posted at 11:00 a.m., Monday, May 5, 2003

Hawaiian Air expects $5.3M loss for quarter

Advertiser Staff

Hawaiian Airlines expects to lose $5.3 million in the three months ending June 30, a smaller deficit than the $31.1 million it lost in the second quarter of 2002.

The projected loss for the second quarter of this year includes shortfalls of about $2.9 million in April and $4.4 million in May, and $2 million in net income in June.

The airline, attempting to restructure under Chapter 11 bankruptcy protection, said in a required court filing that it expects total operating revenue of $154.4 million in the second quarter, up from $148 million in the same period a year ago.

Operating expenses for the quarter are projected at $158.5 million, including $24.1 million in aircraft rental.

The carrier expects to pay aircraft leases of $8.9 million in April, $7.7 million in May and $7.6 million in June.

During the same period last year, Hawaiian had operating expenses of $173.1 million, including $18.8 million for aircraft rental.