Hawaiian Holdings, parent company to Hawaiian Airlines, reported a third-quarter profit of $45.5 million, a 77.6% surge over the $25.6 million in net income the carrier reported during the same quarter last year.
The airline saw its total operating revenue jump 20.5% year over year, to $549.3 million, in the third quarter while capacity increased 28%, to more than 4.1 billion available seat miles, according to figures released by Hawaiian Oct. 23.
“We are pleased to report improving margins while we are growing so quickly,” Hawaiian’s CEO and president, Mark Dunkerley, said in a statement. “Our strategy of diversifying our revenue base through growth is demonstrating its value as we have seen some enormous variation in market performance across our network of late. Demand for the Hawaii vacation remains strong in North America and Asia.”
Hawaiian said its air fuel cost jumped 21.9% year over year in the third quarter, to $165.8 million, and represented 34.9% of the carrier’s total operating expense.