Hawaiian Airlines reports 78 percent increase in Q3 net income

Hawaiian Airlines recently announced its operational results for Q3 this year and sounded quite upbeat at the outcome.

The airline reported that its consolidated adjusted net income increased 78 percent in the third quarter of 2012, to $45.5 million.
The airline has off late been aggressively expanding its flights network to Asia and the U.S. mainland.

Hawaiian Airlines, however, said that its PRASM (passenger revenue per available seat mile) declined 6 percent to 12.30 cents. The airline cited the decline to stiff competition from its rivals which raised the flight frequencies on a number of important routes.
 
The airline reported that its operating revenue increased more than 20 percent. Its capacity also increased by 28 percent in Q3 as compared to the July-September quarter of 2011.

The launch of nonstop daily flights between Honolulu and Seoul instead of four times weekly is being cited as main reason leading to growth in revenues. Among other reasons include increasing of frequencies from Maui to Oakland and San Jose as well as launch of new nonstop flights between New York City and Fukuoka.