Hawaiian reports Q1 loss despite revenue increase

Hawaiian Airlines lost $98.3 million, or $1.192 per share in Q1 2023, while operating revenue climbed by 28.4% year-on-year to $612 million. Fuel costs were up over 35% and the outlay on salaries went up by almost 30%. Aircraft rental costs were up 7.2% to almost $39 million. The airline reported unrestricted cash, cash equivalents and short-term investments of $1.4bn, with $1.6bn in liquidity including its undrawn $235 million revolving credit facility. It was carrying outstanding debt and finance lease obligations of $1.7bn at the end of the period. Hawaiian operated at 115% of its 2022 first quarter capacity and