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Hawaiian Airlines’ earnings jumped 46.3 percent in the third quarter on the strength of low fuel prices, strong demand across its network and moderate industry capacity growth.
Hawaiian Holdings Inc., the airline’s corporate parent, reported today that net income rose to $102.5 million, or $1.91 a share, from $70 million, or $1.15 a share, in the year-earlier quarter. Revenue rose 6.3 percent to $671.8 million from $631.7 million.
Excluding certain items, Hawaiian earned $103.1 million, or $1.92 a share, on an adjusted basis. That easily best analysts’ estimates of $1.80 a share.
Hawaiian continued to save from lower fuel costs and said those expenses in the third quarter fell 8 percent and produced savings of $7.9 million from the year-earlier period.