Hawaiian Air Reports $2M Loss
POSTED: 8:36 am HST October 21, 2004
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HONOLULU -- Higher fuel prices cut into Hawaiian Airlines' profit last month, according to company officials.The airline recorded a $2 million operating loss in September due primarily to escalating fuel, maintenance and labor costs.The price of fuel was 48 percent more than the previous September.Hawaiian also recorded $113 million in reorganization expenses related to its bankruptcy; most of it was used to settle aircraft leases with Boeing.Before last month, the state's largest air carrier had reported operating profits in 17 straight months.Hawaiian filed for Chapter 11 bankruptcy protection in March 2003.
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