Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Thursday, January 19, 2006

Aloha posts $281,000 profit

By Rick Daysog
Advertiser Staff Writer

Benefiting from lower fuel costs and a busy holiday season, Aloha Airlines reported an operating profit of $281,000 in November.

The November results reversed operating losses of $1.5 million in October and $2 million in September.

"The numbers show that November was a sound month. Aloha Airlines enjoyed a reduction in fuel costs and very good sales," said David Banmiller, Aloha's chief executive officer.

In filings with the U.S. Bankruptcy Court, Aloha said its revenues hit $32.9 million in November, which was about the same as October's revenues.

The state's second largest airline said its operating expenses fell to $32.7 million in November from the previous month's $34.5 million. Privately held Aloha said its fuel costs dropped to $7.8 million in November from October's $9.3 million.

The results come as Aloha is attempting to exit bankruptcy protection under new ownership. The airline filed for Chapter 11 protection in December 2004.

Since filing for bankruptcy, Aloha has accumulated more than $11 million in operating losses and more than $27 million in net losses. Net losses include nonairline expenses such as legal fees.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.