Former Hawaiian trustee getting shelled

[mdanno808]

Good! Gutless is gone, and good riddance. Now that the last vestige of the bankruptcy era is gone, maybe Dunkerley & co. can really focus on where they need to be, and where the airline should be going: More planes, more routes.

On a side note, did anyone post anything here about Mesa's 'fare structure'? You gotta love this quote from the Mesa press release:

Without having to subsidize unprofitable trans-Pacific service on the shoulders of the inter-island passengers, Mesa can offer very attractive fares to our Hawaiian customers.

Gee, I kind of thought that it was the other way around - that the trans-pac flying made the dough, while the interisland is just squeaking out a minimal profit. Also, that profit is made with 100+ seats per plane and a lot of cargo. What kind of profit does Mesa expect to make with 50-pax RJ's with no cargo capacity? And what kind of numb-nuts makes a claim like this and expects to be taken seriously??? All anyone has to do is look up the financial results for Hawaiian for the last few years and they'll see where Mesa is just blowing smoke up our okole.
HAL

These idiot's obviously have no clue what they are talking about. Every statement they make verges on delusional.

 

[islandhopper]

Good! Gutless is gone, and good riddance. Now that the last vestige of the bankruptcy era is gone, maybe Dunkerley & co. can really focus on where they need to be, and where the airline should be going: More planes, more routes.

On a side note, did anyone post anything here about Mesa's 'fare structure'? You gotta love this quote from the Mesa press release:

Without having to subsidize unprofitable trans-Pacific service on the shoulders of the inter-island passengers, Mesa can offer very attractive fares to our Hawaiian customers.

Gee, I kind of thought that it was the other way around - that the trans-pac flying made the dough, while the interisland is just squeaking out a minimal profit. Also, that profit is made with 100+ seats per plane and a lot of cargo. What kind of profit does Mesa expect to make with 50-pax RJ's with no cargo capacity? And what kind of numb-nuts makes a claim like this and expects to be taken seriously??? All anyone has to do is look up the financial results for Hawaiian for the last few years and they'll see where Mesa is just blowing smoke up our okole.

HAL

Actually Mesa is claiming they have been offered COMAIRS RJ-200's VERY cheap and run them in Hawaii and elsewhere. Ornstien was bragging to our atty that he could make three round trips a day per aircraft and make money!

They don't care about cargo or the local market. Mesa is just interested in seeing Aloha burn, and making a last shot at our operating certificate in a Ch7 liquidation or 363 asset sale. Everybody knows what Mesa is up to. While we are preparing for his arrival with everything we got, we are fairly certain if AQ settles with their pilots and FA's that Mesa will go away.

 

[islandhopper]

Look, not to frighten anybody with that rumor.... Mesa is full of $hit. OK cheap RJ-200's on their way to Mojave are one thing but he claims to be replacing the RJ-200's with larger 700 & 900 series canadairs in Hawaii and thats BULL$HIT. No way hes coming in with brand new metal at those published fares.

 

[HAL]

Comparing FlyI to Mesa

FlyI just entered chapter 11 bankruptcy. They were a relatively profitable low cost regional that tried to expand into being an independent airline. Now they're essentially liquidating the airline after having burned through a quarter billion dollars cash. Compare what is being said about FlyI to what Mesa is about to attempt:

From a Securities Analyst: "We did not believe that FLYI's model of using regional jets as a low-cost airline was ever feasible," he wrote, because of the relatively high cost of operating a regional jet. "The only way we saw any potential value for stockholders was if the company went back to being a regional feeder airline."

Also said of FlyI: "Their fare pricing was desperate to say the least, and even Joe Leonard from Airtran said the Indy pricing was "Irresponsible.""

The two cases seem quite similiar. Mesa is attempting what ACA did by becoming FlyI, and I'd guess the results will be the same. So does the world end if Mesa enters the Hawaii market? Probably not. Will Mesa enter the market? I'd say yes, because Ornstein is just that stubborn. Will Mesa fail and leave? Almost certainly yes, given the planes they're proposing and the fiercely loyal market in Hawaii.

HAL

P.S. We furloughees are not happy with the loss of Saturday News Talk!

 

[mdanno808]

I am not happy with the vacancy bid that was just released either. 14 excess pilot's until March 2006? Sucks to be us.

 

[HAL]

I am not happy with the vacancy bid that was just released either. 14 excess pilot's until March 2006? Sucks to be us.

Actually it is worse than that. The bid includes all expected retirements through March '06. The 14 excess go beyond that date. If there is no more growth, the staffing formula won't be 'even' until there are 14 more retirements after March '06, which will bring us to the end of August '07. That's almost 22 months from now. Or in other words, more than four years for even the top person on the furlough list to be out.

Yep. Sucks to be us.

HAL

 

[Hansoma]

Yeah, but you don't have to drive over Stevens Pass for the next 4 years!

 

[mdanno808]

I'll bet you that the bottom guys on furlough aren't back for another 5 years. Yes, that's right, an 8 or 9 year furlough. I'm betting I won't be back for another 3, and I'm only 54 (or something like that) from the top. It'll be interesting to see if management let's us keep our numbers, or if we lose all longevity after 6 years on the street.

 

[Erndogg]

Posted on: Thursday, November 10, 2005
[FONT=Times New Roman, Times, serif][SIZE=+2]Hawaiian Airlines parent reports $7.8 million net income[/SIZE][/FONT]
[FONT=Times New Roman, Times, serif][SIZE=-1]Hawaiian Holdings Inc., the parent of Hawaiian Airlines, reported a net income of $7.8 million in the third quarter, benefiting from increased visitor traffic.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]THE NUMBERS
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Revenue: $224.1 million
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Net income: $7.8 million, following a $1.8 million loss in the same period last year
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Earnings per share: 16 cents
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Operating income: $17.9 million
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Operating expenses: $206.2 million
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Assets: $705.1 million
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Liabilities: $289.9 million
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]REASONS
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]
Hawaiian Airlines, which emerged from bankruptcy protection in June, benefited from strong visitor demand as the carrier's planes flew nearly 90 percent full during the quarter.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]
The state's largest airline also commenced daily nonstop service between Honolulu and San Jose, Calif., in September.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]
The airline's operating expenses grew 12.9 percent as fuel costs increased to $54.8 million from the year-earlier quarter's $35.9 million.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]WHAT THEY ARE SAYING
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]"We take little comfort in our third-quarter profits, knowing that fuel prices remain high and competition remains intense as we head into a traditionally weaker period of the year."
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Mark Dunkerley
Hawaiian Airlines chief executive

[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]WHAT'S NEXT
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]Hawaiian Airlines recently revamped its fuel hedging program to offset the rising cost of jet fuel.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]The carrier also hired a new chief financial officer, longtime AMR Corp. executive Peter Ingram.
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]The airline is looking to acquire new aircraft to expand its fleet of 11 Boeing 717-200s and 14 767-300 ERs.[/SIZE][/FONT]



[FONT=Times New Roman, Times, serif]Talked to our FAA PMI guy on the jumpseat to SEA the other day. I guess they are eyeing some 767's in Africa 2 and 1 in Mexico. Hopefully they are not too beat up (wishful thinking). [/FONT]
[FONT=Times New Roman, Times, serif][SIZE=-1]That's the latest-Hopefully they can actually win a bid for these A/C.
[/SIZE][/FONT]

 

[mdanno808]

Wanna bet?

Posted on: Thursday, November 10, 2005
[FONT=Times New Roman, Times, serif][SIZE=-1]

[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]WHAT'S NEXT
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]
[/SIZE][/FONT][FONT=Times New Roman, Times, serif][SIZE=-1]The airline is looking to acquire new aircraft to expand its fleet of 11 Boeing 717-200s and 14 767-300 ERs.[/SIZE][/FONT]



[FONT=Times New Roman, Times, serif][SIZE=-1]
[/SIZE][/FONT]

 

[Erndogg]

Wanna bet?

Probably not-knowing what these guys have done. Ranch just sold 19 mill shares and made about 50 mill, so maybe after thier money grab they will actually acquire some A/C.