Hawaiian Holdings Inc. said the results translates into a loss of 56 cents per share and compares with a net profit of $1.4 million, or 3 cents per share, during second quarter 2005.

Hawaiian said it took a $28 million charge during the three months ending June 30 when it redeemed $52.3 million in convertible notes. Minus the charge, the airline said it would have reported a pre-tax income of $6 million for the latest quarter.

"During the second quarter we faced two main challenges in the rising price of fuel and the increase in competitor capacity, both interisland and on our transpacific routes," said Mark Dunkerley, president and chief executive officer.

"In this environment we are pleased to report an operating and pre-tax profit excluding the special charge associated with the redemption of our convertible securities. At the same time, we recognize that our progress in this quarter has lagged that of several of our competitors, so we remain keenly focused on efforts to improve revenues and further control our costs, " he said.

Tesoro says current operations unaffected by Alaska oil disruption

Tesoro Corp., the second-largest oil refiner in the West, said its current operations aren't being affected by BP Plc's shutdown of the Prudhoe oil field in Alaska because only 10 percent of its crude supply comes from the field.

Tesoro has a secure supply of crude, enough for the next 30 to 45 days, for its Golden Eagle refinery in Martinez, California, and its Anacortes refinery in Anacortes, Washington, both of which use crude from Prudhoe Bay, the company said in a statement.

Tesoro's refineries in Alaska and Hawaii do not currently use Prudhoe Bay oil, the company's statement said.

The company does not anticipate any near-term operational impact, though "it is too early to know if there will be any long-term" impact on operations, Brown said.