Hawaiian Airlines

Running Head : Hawaiian Airlines

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Hawaiian Airlines

Introduction

Hawaiian Holding Inc is the Parent Company of Hawaiian Airlines Inc The Company was started in the year 1929 . The company is the sixteenth largest domestic airline in the United States . It has a fleet of 25 Aircraft and it offers flights to Hawaii from different destinations in the US . It also does offer flights to Australia America , Samoa and Tahiti ( HYPERLINK "http /investor .hawaiianairlines .com http /investor .hawaiianairlines .com

The period from

April 1 2003 through June 1 2005 saw the company operating at bankruptcy . Actually during this time , Hawaiian Airlines generated its business under the jurisdiction of the Bankruptcy Therefore as a result of this , the Hawaiian Airline was reconsolidated with its parent company , Hawaiian Holding . This enabled the company to be able to rise from its state of loss making to its current state where it is making profits

A quick glance at the financial statements reveals that for the last three years the company has actually been operating at a net loss up to the financial year ending 31 .12 .07 where the company was able to recover from the loss trend to start making profits ( HYPERLINK "http /investor .hawaiianairlines .com http /investor .hawaiianairlines .com

Balance Sheet Analysis of Year Ending 31 .07 .2008

Analysis of the balance sheet helps one to have a general view of the performance of a company . The Balance sheet can be analyzed through different tools of analysis which includes ratios and overview analysis For Hawaii holding inc . the following ratios can be used to analyze the balance sheet

Liquidity ratios which include current ratios and Quick Ratios

Capital structure ratio , including the Debt to Equity ratio

The following parameters are also used to analyze the Balance sheet

Net Worth

Net worth For Hawaii Holdings 823399-690 ,060 133 ,339

The company has a positive Net Worth this therefore means that the Company is in a position to meet all its liabilities

2 ) Stock Levels

The inventory of Hawaii Holdings is relatively low hence thus indicates that no money is unnecessarily tied up in stock which is good for the company 's liquidity

3 ) Level of Debtors

The low level of Accounts receivable for the company is a sure indicator that the efficiency of Hawaiian holdings in its collecting of outstanding debt is quite high . It thus translates that liquidity position of the company is improved

4 ) Declaration of Dividends

In the Financial Year ending 31 .7 .08 , Hawaiian Holdings Inc . did not declare any dividend to its shareholder . This clearly shows that the liquidity of the company as at that time was not sound and hence its inability to pay dividends ( HYPERLINK "http /investor .hawaiianairlines .com http /investor .hawaiianairlines .com

Balance Sheet Analysis of Financial Year Ending 31 .12 .08

Further Analysis of the Balance Sheet reveals the following data about the company

LIQUIDITY RATIOS

1 ) Current Ratio br Thus for last 12 months up to 31 .12 .07 Current...