Hawaiian (HA) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document and Entity Information
Entity Registrant Name	HAWAIIAN HOLDINGS INC
Entity Central Index Key	1,172,222
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		54,866,511

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating Revenue:
Passenger	$ 499,387	$ 506,797	$ 968,532	$ 974,810
Other	71,908	68,923	143,043	125,768
Total	571,295	575,720	1,111,575	1,100,578
Operating Expenses:
Aircraft fuel, including taxes and delivery	112,519	174,139	223,846	345,278
Wages and benefits	123,977	112,478	243,991	219,972
Aircraft rent	28,817	26,095	57,188	52,374
Maintenance materials and repairs	57,071	58,399	112,316	116,709
Aircraft and passenger servicing	29,348	30,860	57,664	61,081
Commissions and other selling	30,484	30,773	60,912	62,108
Depreciation and amortization	27,537	23,765	52,716	46,576
Other rentals and landing fees	23,248	21,656	46,079	42,218
Other	46,878	45,961	94,283	92,631
Total	479,879	524,126	948,995	1,038,947
Operating Income	91,416	51,594	162,580	61,631
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,718)	(15,997)	(29,236)	(31,007)
Interest income	725	398	1,361	617
Capitalized interest	975	1,974	2,268	4,750
Gains (losses) on fuel derivatives	2,026	6,285	(3,661)	(614)
Loss on extinguishment of debt	(287)	0	(7,242)	0
Other, net	(1,876)	725	(4,810)	1,310
Total	(12,155)	(6,615)	(41,320)	(24,944)
Income Before Income Taxes	79,261	44,979	121,260	36,687
Income tax expense	30,427	17,652	46,543	14,435
Net Income	$ 48,834	$ 27,327	$ 74,717	$ 22,252
Net Income Per Share
Basic (in dollars per share)	$ 0.89	$ 0.51	$ 1.37	$ 0.42
Diluted (in dollars per share)	$ 0.79	$ 0.43	$ 1.18	$ 0.39

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$ 48,834	$ 27,327	$ 74,717	$ 22,252
Other comprehensive income (loss), net:
Net change related to employee benefit plans, net of tax	1,699	140	3,357	345
Net change in derivative instruments, net of tax	(1,475)	(3,372)	(2,277)	(8,807)
Net change in available-for-sale investments, net of tax	(124)	56	180	35
Total other comprehensive income (loss)	100	(3,176)	1,260	(8,427)
Total Comprehensive Income	$ 48,934	$ 24,151	$ 75,977	$ 13,825

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net change related to employee benefit plans, tax expense	$ 1,037	$ 85	$ 2,046	$ 209
Net change in derivative instruments, tax (benefit) expense	(898)	(2,049)	(1,386)	(5,352)
Net change in available-for-sale investments, tax (benefit) expense	$ (75)	$ 21	$ 110	$ 21

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 344,782	$ 264,087
Restricted cash	5,000	6,566
Short-term investments	261,281	260,121
Accounts receivable, net	83,871	80,737
Spare parts and supplies, net	20,399	18,011
Deferred tax assets, net	22,657	21,943
Prepaid expenses and other	48,051	53,382
Total	786,041	704,847
Property and equipment, less accumulated depreciation and amortization of $392,992 and $367,507 as of June 30, 2015 and December 31, 2014, respectively	1,607,933	1,673,493
Other Assets:
Long-term prepayments and other	95,299	96,225
Intangible assets, less accumulated amortization of $35,754 and $34,434 as of June 30, 2015 and December 31, 2014, respectively	19,980	21,300
Goodwill	106,663	106,663
Total Assets	2,615,916	2,602,528
Current Liabilities:
Accounts payable	103,618	97,260
Air traffic liability	544,947	424,336
Other accrued liabilities	122,629	141,919
Current maturities of long-term debt, less discount, and capital lease obligations	98,394	156,349
Total	869,588	819,864
Long-Term Debt and Capital Lease Obligations	848,217	893,288
Other Liabilities and Deferred Credits:
Accumulated pension and other postretirement benefit obligations	406,804	407,864
Other liabilities and deferred credits	81,372	72,650
Deferred tax liability, net	81,241	41,629
Total	$ 569,417	$ 522,143
Commitments and Contingencies
Shareholders’ Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of June 30, 2015 and December 31, 2014	$ 0	$ 0
Common stock, $0.01 par value per share, 54,866,511 and 54,455,568 shares outstanding as of June 30, 2015 and December 31, 2014, respectively	548	545
Capital in excess of par value	154,534	251,432
Treasury stock, at cost	(17,621)	0
Accumulated income	312,785	238,068
Accumulated other comprehensive loss, net	(121,552)	(122,812)
Total	328,694	367,233
Total Liabilities and Shareholders’ Equity	$ 2,615,916	$ 2,602,528

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 392,992	$ 367,507
Intangible assets, accumulated amortization (in dollars)	$ 35,754	$ 34,434
Special preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Special preferred stock, shares issued	3	3
Special preferred stock, shares outstanding	3	3
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares outstanding	54,866,511	54,455,568

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Cash Flows [Abstract]
Net cash provided by Operating Activities	$ 297,520	$ 203,969
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(72,902)	(331,766)
Proceeds from purchase assignment and leaseback transactions	86,033	0
Proceeds from disposition of equipment	3,513	350
Purchases of investments	(115,218)	(234,143)
Sales of investments	112,886	30,859
Net cash provided by (used in) investing activities	14,312	(534,700)
Cash flows from Financing Activities:
Long-term borrowings	0	293,430
Repayments of long-term debt and capital lease obligations	(43,460)	(30,756)
Repurchases of convertible notes	(168,407)	0
Repurchases of common stock	(17,621)	0
Other	(1,649)	4,954
Net cash provided by (used in) financing activities	(231,137)	267,628
Net increase (decrease) in cash and cash equivalents	80,695	(63,103)
Cash and cash equivalents - Beginning of Period	264,087	423,384
Cash and cash equivalents - End of Period	$ 344,782	$ 360,281

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Hawaiian Holdings, Inc. (the Company or Holdings) is a holding company incorporated in the State of Delaware. The Company’s primary asset is its sole ownership of all issued and outstanding shares of common stock of Hawaiian Airlines, Inc. (Hawaiian). The accompanying unaudited financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (SEC). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements contain all adjustments, including normal recurring adjustments, necessary for the fair presentation of the Company’s results of operations and financial position for the periods presented. Due to seasonal fluctuations, among other factors common to the airline industry, the results of operations for the periods presented are not necessarily indicative of the results of operations to be expected for the entire year. The accompanying unaudited Consolidated Financial Statements should be read in conjunction with the financial statements and the notes of the Company included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 .

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The amendments in ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and allow for either full retrospective or modified retrospective adoption. Organizations are permitted to adopt the new revenue standard early, but not before December 15, 2016. The Company is currently evaluating the effect that the provisions of ASU 2014-09 will have on its consolidated financial statements and related disclosures. We have determined that the new standard, once effective, will preclude the Company from accounting for miles earned under its HawaiianMiles customer loyalty program using the incremental cost method, and will require use of the deferred revenue method. This change could have a significant impact on the Company's financial statements. In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03), requiring an entity to present its debt issuance costs on the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Company's financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss Reclassifications out of accumulated other comprehensive loss by component is as follows: Details about accumulated other comprehensive loss components Three months ended June 30, Six months ended June 30, Affected line items in the statement where net income is presented 2015 2014 2015 2014 (in thousands) Derivatives designated as hedging instruments under ASC 815 Foreign currency derivative gains, net $ (4,460 ) $ (1,608 ) $ (8,412 ) $ (5,226 ) Passenger revenue Interest rate derivative losses, net 179 206 366 417 Interest expense Total before tax (4,281 ) (1,402 ) (8,046 ) (4,809 ) Tax expense 1,618 527 3,040 1,815 Total, net of tax $ (2,663 ) $ (875 ) $ (5,006 ) $ (2,994 ) Amortization of defined benefit pension items Actuarial loss $ 2,680 $ 226 $ 5,360 $ 452 Wages and benefits Prior service cost (credit) 57 (1 ) 114 (2 ) Wages and benefits Total before tax 2,737 225 5,474 450 Tax benefit (1,038 ) (85 ) (2,076 ) (210 ) Total, net of tax $ 1,699 $ 140 $ 3,398 $ 240 Short-term investments Realized gain on sales of investments, net $ (25 ) $ (1 ) $ (35 ) $ (2 ) Other nonoperating income Total before tax (25 ) (1 ) (35 ) (2 ) Tax expense 6 — 7 — Total, net of tax $ (19 ) $ (1 ) $ (28 ) $ (2 ) Total reclassifications for the period $ (983 ) $ (736 ) $ (1,636 ) $ (2,756 ) A rollforward of the amounts included in accumulated other comprehensive loss, net of taxes, for the three and six months ended June 30, 2015 and 2014 is as follows: Three months ended June 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ (108 ) $ 12,268 $ (133,862 ) $ 50 $ (121,652 ) Other comprehensive income (loss) before reclassifications, net of tax 260 928 — (105 ) 1,083 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 110 (2,773 ) 1,699 (19 ) (983 ) Net current-period other comprehensive income (loss) 370 (1,845 ) 1,699 (124 ) 100 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Three months ended June 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 865 $ 3,073 $ (51,854 ) $ (21 ) $ (47,937 ) Other comprehensive income (loss) before reclassifications, net of tax (520 ) (1,977 ) — 57 (2,440 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 126 (1,001 ) 140 (1 ) (736 ) Net current-period other comprehensive income (loss) (394 ) (2,978 ) 140 56 (3,176 ) Ending balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 ) Six months ended June 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 254 $ 12,708 $ (135,520 ) $ (254 ) $ (122,812 ) Other comprehensive income (loss) before reclassifications, net of tax (216 ) 2,945 (41 ) 208 2,896 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 224 (5,230 ) 3,398 (28 ) (1,636 ) Net current-period other comprehensive income (loss) 8 (2,285 ) 3,357 180 1,260 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Six months ended June 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 1,096 $ 8,277 $ (52,059 ) $ — $ (42,686 ) Other comprehensive income (loss) before reclassifications, net of tax (883 ) (4,930 ) 105 37 (5,671 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 258 (3,252 ) 240 (2 ) (2,756 ) Net current-period other comprehensive income (loss) (625 ) (8,182 ) 345 35 (8,427 ) Ending balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 )

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share, which excludes dilution, is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except for per share data) Numerator: Net Income $ 48,834 $ 27,327 $ 74,717 $ 22,252 Denominator: Weighted average common stock shares outstanding - Basic 54,619 53,499 54,617 53,095 Assumed exercise of stock options and awards 430 1,009 488 583 Assumed conversion of convertible note premium 546 4,972 2,252 2,133 Assumed conversion of warrants 6,260 3,367 6,033 1,235 Weighted average common stock shares outstanding - Diluted 61,855 62,847 63,390 57,046 Net Income Per Share Basic $ 0.89 $ 0.51 $ 1.37 $ 0.42 Diluted $ 0.79 $ 0.43 $ 1.18 $ 0.39 The table below summarizes those common stock equivalents that could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted earnings per share because the instruments were antidilutive. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) Restricted stock 16 — 11 — In March 2011, the Company entered into a convertible note transaction which included the sale of convertible notes, purchase of call options and sale of warrants. As of June 30, 2015 , the Company’s 5% Convertible Notes due in 2016 ("Convertible Notes") had an outstanding principal balance of $4.2 million and can be redeemed with either cash or the Company’s common stock, or a combination thereof, at the Company’s option. During the three and six months ended June 30, 2015 , the Company repurchased $3.8 million and $66.8 million in principal of the Convertible Notes, respectively. The 0.5 million shares into which the currently outstanding Convertible Notes can be converted will not impact the dilutive earnings per share calculation in the current and future periods under the if-converted method, as the Company has the intent and ability to redeem the principal amount of the Convertible Notes with cash. During the three and six months ended June 30, 2015 and 2014 the average share price of the Company’s common stock exceeded the conversion price of $7.88 per share. Therefore, shares related to the conversion premium of the Convertible Notes (for which share settlement is assumed for earnings per share purposes) are included in the Company's computation of diluted earnings per share. In connection with the issuance of the Convertible Notes, the Company entered into separate call option transactions and separate warrant transactions with certain financial investors to reduce the potential dilution of the Company’s common stock and to offset potential payments by the Company to holders of the Convertible Notes in excess of the principal of the Convertible Notes upon conversion. The call options to repurchase the Company’s common stock will always be antidilutive and, therefore, will have no effect on diluted earnings per share and are excluded from the table above. During the three and six months ended June 30, 2015 and 2014 the average share price of the Company's common stock exceeded the warrant strike price of $10.00 per share. Therefore, the assumed conversion of the warrants is included in the Company's computation of diluted earnings per share. In April 2015, the Company's Board of Directors approved a stock repurchase program under which the Company may repurchase up to $100 million of its outstanding common stock over a two-year period through the open market, established plans or privately negotiated transactions in accordance with all applicable securities laws, rules and regulations. The stock repurchase program is subject to modification or termination at any time. The Company spent $17.6 million to repurchase approximately 0.8 million shares of the Company's common stock in open market transactions during the three months ended June 30, 2015 . As of June 30, 2015 , the Company has $82.4 million remaining to spend under the stock repurchase program. See Part II, Item 2., “Unregistered Sales of Equity Securities and Use of Proceeds” of this report for additional information on the stock repurchase program.

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short-Term Investments	Short-Term Investments Debt securities that are not classified as cash equivalents are classified as available-for-sale investments and are stated at fair value. Realized gains and losses on sales of investments are reflected in nonoperating income (expense) in the unaudited consolidated statements of operations. Unrealized gains and losses on available-for-sale securities are reflected as a component of accumulated other comprehensive loss. The following is a summary of short-term investments held as of June 30, 2015 and December 31, 2014 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2015 (in thousands) Corporate debt $ 173,651 $ 56 $ (213 ) $ 173,494 U.S. government and agency debt 41,994 52 (2 ) 42,044 Municipal bonds 24,182 8 (14 ) 24,176 Other fixed income securities 21,572 — (5 ) 21,567 Total short-term investments $ 261,399 $ 116 $ (234 ) $ 261,281 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2014 (in thousands) Corporate debt $ 180,794 $ 43 $ (394 ) $ 180,443 U.S. government and agency debt 38,268 — (40 ) 38,228 Municipal bonds 23,849 4 (16 ) 23,837 Other fixed income securities 17,618 — (5 ) 17,613 Total short-term investments $ 260,529 $ 47 $ (455 ) $ 260,121 Contractual maturities of short-term investments as of June 30, 2015 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 67,168 $ 106,326 $ 173,494 U.S. government and agency debt 20,330 21,714 42,044 Municipal bonds 15,220 8,956 24,176 Other fixed income securities 19,063 2,504 21,567 Total short-term investments $ 121,781 $ 139,500 $ 261,281 The Company classifies investments as current assets as these securities are available for use in its current operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurement (ASC 820) clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term for the assets or liabilities; and Level 3 — Unobservable inputs for which there is little or no market data and that are significant to the fair value of the assets or liabilities. The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 30, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 104,044 $ 84,793 $ 19,251 $ — Restricted cash 5,000 5,000 — — Short-term investments 261,281 — 261,281 — Fuel derivative contracts: 0 Heating oil put options 4,836 — 4,836 — Heating oil swaps 3,171 — 3,171 — Foreign currency derivatives 13,699 — 13,699 — Total assets measured at fair value $ 392,031 $ 89,793 $ 302,238 $ — Fuel derivative contracts: Heating oil swaps $ 19,739 $ — $ 19,739 $ — Foreign currency derivatives 152 — 152 — Interest rate derivative 68 — 68 — Total liabilities measured at fair value $ 19,959 $ — $ 19,959 $ — Fair Value Measurements as of December 31, 2014 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 55,072 $ 35,913 $ 19,159 $ — Restricted cash 6,566 6,566 — — Short-term investments 260,121 — 260,121 — Fuel derivative contracts: 0 Heating oil put options 32,637 — 32,637 — Foreign currency derivatives 19,746 — 19,746 — Total assets measured at fair value $ 374,142 $ 42,479 $ 331,663 $ — Fuel derivative contracts: Heating oil swaps $ 71,447 $ — $ 71,447 $ — Interest rate derivative 129 — 129 — Negative arbitrage derivative 500 — — 500 Total liabilities measured at fair value $ 72,076 $ — $ 71,576 $ 500 Cash equivalents. The Company’s cash equivalents consist of money market securities, U.S. agency bonds, foreign and domestic corporate bonds, and commercial paper. The instruments classified as Level 2 are valued using quoted prices for similar assets in active markets. Restricted cash . The Company’s restricted cash consist of money market securities. Short-term investments. Short-term investments include U.S. and foreign government notes and bonds, U.S. agency bonds, variable rate corporate bonds, asset backed securities, foreign and domestic corporate bonds, municipal bonds, and commercial paper. These instruments are valued using quoted prices for similar assets in active markets or other observable inputs. Fuel derivative contracts. The Company’s fuel derivative contracts consist of heating oil puts and swaps which are not traded on a public exchange. The fair value of these instruments are determined based on inputs available or derived from public markets including contractual terms, market prices, yield curves and measures of volatility among others. Foreign currency derivatives. The Company’s foreign currency derivatives consist of Japanese Yen and Australian Dollar forward contracts and are valued based primarily on data available or derived from public markets. Interest rate derivative. The Company’s interest rate derivative consists of an interest rate swap and is valued based primarily on data available or derived from public markets. The table below presents the Company’s debt (excluding obligations under capital leases) measured at fair value: Fair Value of Debt June 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) (in thousands) $ 846,611 $ 851,993 $ — $ 4,272 $ 847,721 $ 947,897 $ 956,811 $ — $ 69,766 $ 887,045 The fair value estimates of the Company’s debt were based on either market prices or the discounted amount of future cash flows using the Company’s current incremental rate of borrowing for similar liabilities. The carrying amounts of cash, other receivables and accounts payable approximate fair value due to the short-term nature of these financial instruments.

Financial Derivative Instrument

Financial Derivative Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivative Instruments	Financial Derivative Instruments The Company uses derivatives to manage risks associated with certain assets and liabilities arising from the potential adverse impact of fluctuations in global fuel prices and foreign currencies. Fuel Risk Management The Company’s operations are inherently dependent upon the price and availability of aircraft fuel. To manage economic risks associated with fluctuations in aircraft fuel prices, the Company periodically enters into derivative financial instruments. During the three and six months ended June 30, 2015 , the Company primarily used heating oil puts and swaps to hedge its aircraft fuel expense. These derivative instruments were not designated as hedges under ASC Topic 815, Derivatives and Hedging (ASC 815), for hedge accounting treatment. As a result, any changes in fair value of these derivative instruments are adjusted through other nonoperating income (expense) in the period of change. The following table reflects the amount of realized and unrealized gains and losses recorded as nonoperating income (expense) in the unaudited Consolidated Statements of Operations. Three months ended June 30, Six months ended June 30, Fuel derivative contracts 2015 2014 2015 2014 (in thousands) Losses realized at settlement $ (16,553 ) $ (2,009 ) $ (31,144 ) $ (1,899 ) Reversal of prior period unrealized amounts 16,327 2,625 29,313 (1,613 ) Unrealized gains (losses) that will settle in future periods 2,252 5,669 (1,830 ) 2,898 Gains (losses) on fuel derivatives recorded as Nonoperating income (expense) $ 2,026 $ 6,285 $ (3,661 ) $ (614 ) Foreign Currency Exchange Rate Risk Management The Company is subject to foreign currency exchange rate risk due to revenues and expenses denominated in foreign currencies, with the primary exposures being the Japanese Yen and Australian Dollar. To manage exchange rate risk, the Company executes its international revenue and expense transactions in the same foreign currency to the extent practicable. The Company enters into foreign currency forward contracts to further manage the effects of fluctuating exchange rates. The effective portion of the gain or loss of designated cash flow hedges is reported as a component of accumulated other comprehensive income (loss) (AOCI) and reclassified into earnings in the same period in which the related sales are recognized as passenger revenue. The effective portion of the foreign currency forward contracts represents the change in fair value of the hedge that offsets the change in the fair value of the hedged item. To the extent the change in the fair value of the hedge does not perfectly offset the change in the fair value of the hedged item, the ineffective portion of the hedge is immediately recognized as nonoperating income (expense). Foreign currency forward contracts that are not designated as cash flow hedges are recorded at fair value, and any changes in fair value are recognized as other nonoperating income (expense) in the period of change. The Company believes that its foreign currency forward contracts that are designated as cash flow hedges will continue to be effective in offsetting changes in cash flow attributable to the hedged risk. The Company expects to reclassify a net gain of approximately $13.6 million into earnings over the next 12 months from AOCI based on the values at June 30, 2015 . The following tables present the gross fair value of asset and liability derivatives that are designated as hedging instruments under ASC 815 and derivatives that are not designated as hedging instruments under ASC 815, as well as the net derivative positions and location of the asset and liability balances within the unaudited Consolidated Balance Sheets. Derivative position as of June 30, 2015 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $54,200 U.S. dollars April 2023 $ — $ (14 ) $ (14 ) Other liabilities and deferred credits (1) — (54 ) (54 ) Foreign currency derivatives Prepaid expenses and other 7,629,030 Japanese Yen June 2016 11,542 (76 ) 11,466 Long-term prepayments and other 3,753,650 Japanese Yen May 2017 2,112 (57 ) 2,055 Derivatives not designated as hedges 0 Foreign currency derivatives Prepaid expenses and other 4,367,750 Japanese Yen June 2016 41 (19 ) 22 Long-term prepayments and other 957,000 Japanese Yen August 2016 4 — 4 Fuel derivative contracts Prepaid expenses and other 14,414 gallons May 2016 1,082 (513 ) 569 Other accrued liabilities 67,953 gallons June 2016 6,925 (19,226 ) (12,301 ) (1) Represents the noncurrent portion of the $54.2 million interest rate derivative with final maturity in April 2023. Derivative position as of December 31, 2014 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $57,400 U.S. dollars April 2023 $ — $ (26 ) $ (26 ) Other liabilities and deferred credits(1) — (103 ) (103 ) Foreign currency derivatives Prepaid expenses and other 6,909,050 Japanese Yen December 2015 13,921 — 13,921 Long-term prepayments and other 3,758,500 Japanese Yen November 2016 4,565 — 4,565 Derivatives not designated as hedges Foreign currency derivatives Prepaid expenses and other 7,714,291 Japanese Yen December 2015 1,191 — 1,191 Long-term prepayments and other 2,762,000 Japanese Yen August 2016 69 — 69 Fuel derivative contracts Other accrued liabilities 90,994 gallons December 2015 32,637 (71,447 ) (38,810 ) Negative arbitrage derivative Other accrued liabilities $444,540 U.S. dollars January 2015 — (500 ) (500 ) (1) Represents the noncurrent portion of the $57.4 million interest rate derivative with final maturity in April 2023. The following table reflects the impact of cash flow hedges designated for hedge accounting treatment and their location within the unaudited Consolidated Statements of Comprehensive Income (Loss). (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended June 30, Three months ended June 30, Three months ended June 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (1,492 ) $ 3,180 $ (4,460 ) $ (1,608 ) $ — $ — Interest rate derivatives (619 ) 605 179 206 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Six months ended June 30, Six months ended June 30, Six months ended June 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (4,737 ) $ 7,708 $ (8,412 ) $ (5,226 ) $ — $ — Interest rate derivatives (62 ) 951 366 417 — — Risk and Collateral The financial derivative instruments expose the Company to possible credit loss in the event the counterparties to the agreements fail to meet their obligations. To manage such credit risks, the Company (1) selects its counterparties based on past experience and credit ratings, (2) limits its exposure to any single counterparty, and (3) periodically monitors the market position and credit rating of each counterparty. Credit risk is deemed to have a minimal impact on the fair value of the derivative instruments as cash collateral would be provided by the counterparties based on the current market exposure of the derivative. The Company's agreements with its counterparties also requires the posting of cash collateral in the event the aggregate value of the Company's positions exceeds certain exposure thresholds that are based upon certain liquidity metrics of the Company. The aggregate fair value of the Company's derivative instruments that contain credit-risk related contingent features that are in a net liability position as of June 30, 2015 was $12.3 million . ASC 815 requires a reporting entity to elect a policy of whether to offset rights to reclaim cash collateral or obligations to return cash collateral against derivative assets and liabilities executed with the same counterparty under a master netting agreement, or present such amounts on a gross basis. The Company’s accounting policy is to present its derivative assets and liabilities on a net basis, including any collateral posted with the counterparty. The Company had no collateral posted with counterparties as of June 30, 2015 and $0.6 million in collateral posted with counterparties as of December 31, 2014 . The Company is also subject to market risk in the event these financial instruments become less valuable in the market. However, changes in the fair value of the derivative instruments will generally offset the change in the fair value of the hedged item, limiting the Company’s overall exposure.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt As of June 30, 2015 , the expected maturities of long-term debt for the remainder of 2015 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2015 $ 45,961 2016 82,861 2017 82,092 2018 87,425 2019 99,070 Thereafter 449,317 $ 846,726 Convertible Notes During the three and six months ended June 30, 2015 a condition for conversion of the Convertible Notes was satisfied, which permits holders of the Convertible Notes to surrender their notes for conversion during the quarter ending September 30, 2015. Therefore, the principal balance is classified accordingly in the table above. As of June 30, 2015 , the carrying value of $4.2 million is reflected as a current liability in the unaudited Consolidated Balance Sheets. During the three and six months ended June 30, 2015 , the Company repurchased $3.8 million and $66.8 million , respectively, in principal of its Convertible Notes for an aggregate repurchase price of $11.9 million and $168.4 million , respectively. The cash consideration was allocated to the fair value of the liability component immediately before extinguishment and the remaining consideration was allocated to the equity component and recognized as a reduction of shareholders' equity. The repurchase of the Convertible Notes resulted in a loss on extinguishment of $0.3 million and $7.2 million for the three and six months ended June 30, 2015 , respectively, which is reflected in nonoperating income (expense) in the unaudited Consolidated Statement of Operations.

Leases

Leases	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Leases	Leases The Company leases aircraft, engines and other assets under long-term lease arrangements. Other leased assets include real property, airport and terminal facilities, maintenance facilities, and general offices. Certain leases include escalation clauses and renewal options. When lease renewals are considered to be reasonably assured, the rental payments that will be due during the renewal periods are included in the determination of rent expense over the life of the lease. During the three months ended June 30, 2015 , the Company took delivery of an Airbus A330-200 aircraft under an operating lease with a lease term of 12 years . As of June 30, 2015 , the scheduled future minimum rental payments under operating leases with non-cancellable basic terms of more than one year were as follows: Aircraft Other (in thousands) Remaining months in 2015 $ 55,746 $ 2,756 2016 102,656 5,405 2017 98,384 4,717 2018 97,635 4,648 2019 97,491 4,356 Thereafter 290,757 26,481 $ 742,669 $ 48,363

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The components of net periodic benefit cost for the Company’s defined benefit and other postretirement plans included the following: Three months ended June 30, Six months ended June 30, Components of Net Period Benefit Cost 2015 2014 2015 2014 (in thousands) Service cost $ 4,225 $ 2,952 $ 8,450 $ 5,904 Interest cost 7,389 6,986 14,778 13,972 Expected return on plan assets (4,716 ) (4,845 ) (9,432 ) (9,690 ) Recognized net actuarial loss 2,737 225 5,474 450 Net periodic benefit cost $ 9,635 $ 5,318 $ 19,270 $ 10,636 The Company contributed $ 0.8 million and $13.6 million to its defined benefit and other postretirement plans during the three and six months ended June 30, 2015 , respectively, including $7.3 million above the minimum funding requirements. The Company contributed $3.8 million and $6.6 million to its defined benefit and other postretirement plans during the three and six months ended June 30, 2014 , respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Commitments As of June 30, 2015 , the Company had the following capital commitments consisting of firm aircraft and engine orders and purchase rights: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A330-200 aircraft 1 — In 2015 A330-800neo aircraft 6 6 Between 2019 and 2021 A321neo aircraft 16 9 Between 2017 and 2020 ATR turboprop aircraft 3 — In 2015 Rolls-Royce spare engines: A330-800neo spare engines 2 — Between 2019 and 2020 Pratt & Whitney spare engines: A321neo spare engines 2 — Between 2017 and 2018 The Company has operating commitments with a third-party to provide aircraft maintenance services which require fixed payments as well as variable payments based on flight hours for its Airbus fleet through 2027. The Company also has operating commitments with third-party service providers for reservations, IT, and accounting services through 2020. Committed capital and operating expenditures include escalation and variable amounts based on estimates. The gross committed expenditures and committed financings for those deliveries as of June 30, 2015 are detailed below: Capital Operating Total Committed Less: Committed Net Committed (in thousands) Remaining months in 2015 $ 79,029 $ 35,166 $ 114,195 $ 48,138 $ 66,057 2016 78,018 58,719 136,737 — 136,737 2017 220,433 58,637 279,070 — 279,070 2018 397,793 51,942 449,735 — 449,735 2019 481,519 47,362 528,881 — 528,881 Thereafter 433,101 264,181 697,282 — 697,282 $ 1,689,893 $ 516,007 $ 2,205,900 $ 48,138 $ 2,157,762 *See below for a detailed discussion of the committed financings Hawaiian has received for its upcoming capital commitments for aircraft deliveries. Purchase Assignment and Lease Financing Agreement Hawaiian has a commitment to assign its purchase of an Airbus A330-200 aircraft at delivery and simultaneously enter into a lease agreement for the aircraft with scheduled delivery in October 2015 with total committed lease financing of $48 million . Both the gross capital commitment for the cost of the aircraft and the committed financing are reflected in the table above. The agreement has an initial lease term of 12 years and fixed monthly rental payments that will be determined upon delivery of the aircraft. The anticipated future minimum payments for this lease, which is not included in the operating lease table at Note 9 , are $2.2 million for the remainder of 2015, $8.4 million in each of the years 2016 through 2019, and $65.4 million thereafter. Aircraft Lease Commitment In June 2015, Hawaiian entered into a six -year lease agreement for an Airbus A330-200 aircraft with an expected delivery date in the second quarter of 2016, which is not included in the table above. The Company will determine whether this lease will be classified as a capital or operating lease in the period it takes delivery of the aircraft. The anticipated future minimum payments for this lease, which is not included in the operating lease table at Note 9 , are $5.1 million in 2016, $8.9 million in each of the years 2017 through 2019, and $21.5 million thereafter. Litigation and Contingencies The Company is subject to legal proceedings arising in the normal course of its operations. Management does not anticipate that the disposition of any currently pending proceeding will have a material effect on the Company’s operations, business or financial condition. General Guarantees and Indemnifications In the normal course of business, the Company enters into numerous aircraft financing and real estate leasing arrangements that have various guarantees included in the contract. It is common in such lease transactions for the lessee to agree to indemnify the lessor and other related third-parties for tort liabilities that arise out of or relate to the lessee’s use of the leased aircraft or occupancy of the leased premises. In some cases, this indemnity extends to related liabilities arising from the negligence of the indemnified parties, but usually excludes any liabilities caused by their gross negligence or willful misconduct. Additionally, the lessee typically indemnifies such parties for any environmental liability that arises out of or relates to its use of the real estate leased premises. The Company believes that it is insured (subject to deductibles) for most tort liabilities and related indemnities described above with respect to the aircraft and real estate that it leases. The Company cannot estimate the potential amount of future payments, if any, under the foregoing indemnities and agreements. Credit Card Holdback Under the Company’s bank-issued credit card processing agreements, certain proceeds from advance ticket sales may be held back to serve as collateral to cover any possible chargebacks or other disputed charges that may occur. These holdbacks, which are included in restricted cash in the Company’s unaudited Consolidated Balance Sheets, totaled $5.0 million at June 30, 2015 and December 31, 2014 . In the event of a material adverse change in the business, the holdback could increase to an amount up to 100% of the applicable credit card air traffic liability, which would also cause an increase in the level of restricted cash. If the Company is unable to obtain a waiver of, or otherwise mitigate the increase in the restriction of cash, it could have a material adverse impact on the Company.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow, Supplemental Disclosures	Supplemental Cash Flow Information Non-cash investing and financing activities for the six months ended June 30, 2015 and 2014 were as follows: Six months ended June 30, 2015 2014 (in thousands) Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through a capital lease $ 2,791 $ —

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2015
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The following condensed consolidating financial information is presented in accordance with Regulation S-X paragraph 210.3-10 because, in connection with the issuance by two pass-through trusts formed by Hawaiian (which is also referred to in this Note 13 as Subsidiary Issuer / Guarantor) of pass-through certificates, the Company (which is also referred to in this Note 13 as Parent Issuer / Guarantor), is fully and unconditionally guaranteeing the payment obligations of Hawaiian, which is a 100% owned subsidiary of the Company, under equipment notes issued by Hawaiian to purchase new aircraft. Condensed consolidating financial statements are presented in the following tables: Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 570,254 $ 1,168 $ (127 ) $ 571,295 Operating Expenses: Aircraft fuel, including taxes and delivery — 112,519 — — 112,519 Wages and benefits — 123,977 — — 123,977 Aircraft rent — 28,817 — — 28,817 Maintenance materials and repairs — 56,555 516 — 57,071 Aircraft and passenger servicing — 29,348 — — 29,348 Commissions and other selling — 30,505 19 (40 ) 30,484 Depreciation and amortization — 26,790 747 — 27,537 Other rentals and landing fees — 23,248 — — 23,248 Other 1,252 45,422 291 (87 ) 46,878 Total 1,252 477,181 1,573 (127 ) 479,879 Operating Income (Loss) (1,252 ) 93,073 (405 ) — 91,416 Nonoperating Income (Expense): Undistributed net income of subsidiaries 49,759 — — (49,759 ) — Interest expense and amortization of debt discounts and issuance costs (156 ) (13,562 ) — — (13,718 ) Interest income 53 672 — — 725 Capitalized interest — 975 — — 975 Gains on fuel derivatives — 2,026 — — 2,026 Loss on extinguishment of debt (287 ) — — — (287 ) Other, net — (1,876 ) — — (1,876 ) Total 49,369 (11,765 ) — (49,759 ) (12,155 ) Income (Loss) Before Income Taxes 48,117 81,308 (405 ) (49,759 ) 79,261 Income tax expense (benefit) (717 ) 31,144 — — 30,427 Net Income (Loss) $ 48,834 $ 50,164 $ (405 ) $ (49,759 ) $ 48,834 Comprehensive Income (Loss) $ 48,934 $ 50,264 $ (405 ) $ (49,859 ) $ 48,934 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 574,779 $ 1,025 $ (84 ) $ 575,720 Operating Expenses: Aircraft fuel, including taxes and delivery — 174,139 — — 174,139 Wages and benefits — 112,478 — — 112,478 Aircraft rent — 26,095 — — 26,095 Maintenance materials and repairs — 58,172 227 — 58,399 Aircraft and passenger servicing — 30,860 — — 30,860 Commissions and other selling — 30,778 19 (24 ) 30,773 Depreciation and amortization — 23,130 635 — 23,765 Other rentals and landing fees — 21,656 — — 21,656 Other 1,507 44,302 212 (60 ) 45,961 Total 1,507 521,610 1,093 (84 ) 524,126 Operating Income (Loss) (1,507 ) 53,169 (68 ) — 51,594 Nonoperating Income (Expense): Undistributed net income of subsidiaries 29,694 — — (29,694 ) — Interest expense and amortization of debt discounts and issuance costs (2,210 ) (13,787 ) — — (15,997 ) Interest income 40 358 — — 398 Capitalized interest — 1,974 — — 1,974 Gains on fuel derivatives — 6,285 — — 6,285 Other, net — 725 — — 725 Total 27,524 (4,445 ) — (29,694 ) (6,615 ) Income (Loss) Before Income Taxes 26,017 48,724 (68 ) (29,694 ) 44,979 Income tax expense (benefit) (1,310 ) 18,962 — — 17,652 Net Income (Loss) $ 27,327 $ 29,762 $ (68 ) $ (29,694 ) $ 27,327 Comprehensive Income (Loss) $ 24,151 $ 26,586 $ (68 ) $ (26,518 ) $ 24,151 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,109,461 $ 2,341 $ (227 ) $ 1,111,575 Operating Expenses: Aircraft fuel, including taxes and delivery — 223,846 — — 223,846 Wages and benefits — 243,991 — — 243,991 Aircraft rent — 57,188 — — 57,188 Maintenance materials and repairs — 111,468 848 — 112,316 Aircraft and passenger servicing — 57,664 — — 57,664 Commissions and other selling 4 60,946 31 (69 ) 60,912 Depreciation and amortization — 51,222 1,494 — 52,716 Other rentals and landing fees — 46,079 — — 46,079 Other 3,237 90,743 461 (158 ) 94,283 Total 3,241 943,147 2,834 (227 ) 948,995 Operating Income (Loss) (3,241 ) 166,314 (493 ) — 162,580 Nonoperating Income (Expense): Undistributed net income of subsidiaries 82,322 — — (82,322 ) — Interest expense and amortization of debt discounts and issuance costs (1,592 ) (27,644 ) — — (29,236 ) Interest income 109 1,252 — — 1,361 Capitalized interest — 2,268 — — 2,268 Losses on fuel derivatives — (3,661 ) — — (3,661 ) Loss on extinguishment of debt (7,242 ) — — — (7,242 ) Other, net — (4,810 ) — — (4,810 ) Total 73,597 (32,595 ) — (82,322 ) (41,320 ) Income (Loss) Before Income Taxes 70,356 133,719 (493 ) (82,322 ) 121,260 Income tax expense (benefit) (4,361 ) 50,904 — — 46,543 Net Income (Loss) $ 74,717 $ 82,815 $ (493 ) $ (82,322 ) $ 74,717 Comprehensive Income (Loss) $ 75,977 $ 84,075 $ (493 ) $ (83,582 ) $ 75,977 Condensed Consolidating Statements of Operations and Comprehensive Income Six months ended June 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,099,106 $ 1,656 $ (184 ) $ 1,100,578 Operating Expenses: Aircraft fuel, including taxes and delivery — 345,278 — — 345,278 Wages and benefits — 219,972 — — 219,972 Aircraft rent — 52,374 — — 52,374 Maintenance materials and repairs — 116,470 239 — 116,709 Aircraft and passenger servicing — 61,081 — — 61,081 Commissions and other selling — 62,125 32 (49 ) 62,108 Depreciation and amortization — 45,842 734 — 46,576 Other rentals and landing fees — 42,218 — — 42,218 Other 2,769 89,438 559 (135 ) 92,631 Total 2,769 1,034,798 1,564 (184 ) 1,038,947 Operating Income (Loss) (2,769 ) 64,308 92 — 61,631 Nonoperating Income (Expense): Undistributed net income of subsidiaries 26,887 — — (26,887 ) — Interest expense and amortization of debt discounts and issuance costs (4,390 ) (26,617 ) — — (31,007 ) Interest income 79 538 — — 617 Capitalized interest — 4,750 — — 4,750 Losses on fuel derivatives — (614 ) — — (614 ) Other, net — 1,310 — — 1,310 Total 22,576 (20,633 ) — (26,887 ) (24,944 ) Income Before Income Taxes 19,807 43,675 92 (26,887 ) 36,687 Income tax expense (benefit) (2,445 ) 16,880 — — 14,435 Net Income (Loss) $ 22,252 $ 26,795 $ 92 $ (26,887 ) $ 22,252 Comprehensive Income $ 13,825 $ 18,368 $ 92 $ (18,460 ) $ 13,825 Condensed Consolidating Balance Sheets June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782 Restricted cash — 5,000 — — 5,000 Short-term investments — 261,281 — — 261,281 Accounts receivable, net 63 83,793 224 (209 ) 83,871 Spare parts and supplies, net — 20,399 — — 20,399 Deferred tax assets, net — 22,657 — — 22,657 Prepaid expenses and other 79 47,929 43 — 48,051 Total 36,965 725,626 23,659 (209 ) 786,041 Property and equipment at cost — 1,958,973 41,952 — 2,000,925 Less accumulated depreciation and amortization — (389,297 ) (3,695 ) — (392,992 ) Property and equipment, net — 1,569,676 38,257 — 1,607,933 Long-term prepayments and other 21 95,278 — — 95,299 Deferred tax assets, net 24,917 — — (24,917 ) — Goodwill and other intangible assets, net — 126,643 — — 126,643 Intercompany receivable — 189,654 — (189,654 ) — Investment in consolidated subsidiaries 462,589 — — (462,589 ) — TOTAL ASSETS $ 524,492 $ 2,706,877 $ 61,916 $ (677,369 ) $ 2,615,916 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 345 $ 102,874 $ 608 $ (209 ) $ 103,618 Air traffic liability — 542,658 2,289 — 544,947 Other accrued liabilities 351 122,133 145 — 122,629 Current maturities of long-term debt, less discount, and capital lease obligations 4,173 94,221 — — 98,394 Total 4,869 861,886 3,042 (209 ) 869,588 Long-term debt and capital lease obligations — 848,217 — — 848,217 Intercompany payable 189,654 — — (189,654 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 406,804 — — 406,804 Other liabilities and deferred credits 1,275 79,347 750 — 81,372 Deferred tax liabilities, net — 106,158 — (24,917 ) 81,241 Total 1,275 592,309 750 (24,917 ) 569,417 Shareholders’ equity 328,694 404,465 58,124 (462,589 ) 328,694 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 524,492 $ 2,706,877 $ 61,916 $ (677,369 ) $ 2,615,916 Condensed Consolidating Balance Sheets December 31, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 79,532 $ 179,676 $ 4,879 $ — $ 264,087 Restricted cash — 6,566 — — 6,566 Short-term investments — 260,121 — — 260,121 Accounts receivable, net 63 80,289 531 (146 ) 80,737 Spare parts and supplies, net — 18,011 — — 18,011 Deferred tax assets, net — 21,943 — — 21,943 Prepaid expenses and other 12 53,281 89 — 53,382 Total 79,607 619,887 5,499 (146 ) 704,847 Property and equipment at cost — 2,006,274 34,726 — 2,041,000 Less accumulated depreciation and amortization — (365,279 ) (2,228 ) — (367,507 ) Property and equipment, net — 1,640,995 32,498 — 1,673,493 Long-term prepayments and other 537 95,688 — — 96,225 Deferred tax assets, net 20,556 — — (20,556 ) — Goodwill and other intangible assets, net — 127,963 — — 127,963 Intercompany receivable — 15,081 — (15,081 ) — Investment in consolidated subsidiaries 351,391 — — (351,391 ) — TOTAL ASSETS $ 452,091 $ 2,499,614 $ 37,997 $ (387,174 ) $ 2,602,528 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 514 $ 96,196 $ 696 $ (146 ) $ 97,260 Air traffic liability — 421,547 2,789 — 424,336 Other accrued liabilities 1,686 140,088 145 — 141,919 Current maturities of long-term debt, less discount, and capital lease obligations 66,530 89,819 — — 156,349 Total 68,730 747,650 3,630 (146 ) 819,864 Long-term debt and capital lease obligations — 893,288 — — 893,288 Intercompany payable 15,081 — — (15,081 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 407,864 — — 407,864 Other liabilities and deferred credits 1,047 70,853 750 — 72,650 Deferred tax liabilities, net — 62,185 — (20,556 ) 41,629 Total 1,047 540,902 750 (20,556 ) 522,143 Shareholders’ equity 367,233 317,774 33,617 (351,391 ) 367,233 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 452,091 $ 2,499,614 $ 37,997 $ (387,174 ) $ 2,602,528 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,349 ) $ 299,009 $ 860 $ — $ 297,520 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (170,209 ) — 195,209 — Additions to property and equipment, including pre-delivery deposits — (65,500 ) (7,402 ) — (72,902 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Proceeds from disposition of property and equipment — 3,458 55 — 3,513 Purchases of investments — (115,218 ) — — (115,218 ) Sales of investments — 112,886 — — 112,886 Net cash provided by (used in) investing activities (25,000 ) (148,550 ) (7,347 ) 195,209 14,312 Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (43,460 ) — — (43,460 ) Repurchases of convertible notes (168,407 ) — — — (168,407 ) Net payments from affiliates 170,209 — 25,000 (195,209 ) — Repurchases of common stock (17,621 ) — — — (17,621 ) Other 459 (2,108 ) — — (1,649 ) Net cash provided by (used in) financing activities (15,360 ) (45,568 ) 25,000 (195,209 ) (231,137 ) Net increase (decrease) in cash and cash equivalents (42,709 ) 104,891 18,513 — 80,695 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2014 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (4,537 ) $ 207,836 $ 670 $ — $ 203,969 Cash Flows From Investing Activities: Net payments to subsidiaries (38,829 ) — — 38,829 — Additions to property and equipment, including pre-delivery deposits — (329,927 ) (1,839 ) — (331,766 ) Proceeds from disposition of property and equipment — 350 — — 350 Purchases of investments — (234,143 ) — — (234,143 ) Sales of investments — 30,859 — — 30,859 Net cash used in investing activities (38,829 ) (532,861 ) (1,839 ) 38,829 (534,700 ) Cash Flows From Financing Activities: Long-term borrowings — 293,430 — — 293,430 Repayments of long-term debt and capital lease obligations — (30,756 ) — — (30,756 ) Net payments from parent company — 38,829 — (38,829 ) — Other 4,333 621 — — 4,954 Net cash provided by financing activities 4,333 302,124 — (38,829 ) 267,628 Net decrease in cash and cash equivalents (39,033 ) (22,901 ) (1,169 ) — (63,103 ) Cash and cash equivalents - Beginning of Period 84,797 333,663 4,924 — 423,384 Cash and cash equivalents - End of Period $ 45,764 $ 310,762 $ 3,755 $ — $ 360,281 Certain Restrictions on Subsidiary Distributions, Dividends and Repurchases The Company and Hawaiian are party to a Credit and Guaranty Agreement (Credit Agreement), dated as of November 7, 2014, that provides for a Revolving Credit Facility. See further discussion of the Revolving Credit Facility at Note 8 to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 . Pursuant to the terms of the Credit Agreement, neither Hawaiian nor any other subsidiary of the Company will directly or indirectly declare or pay any dividend, or purchase, redeem or otherwise acquire or retire for value any equity interests of the Company unless certain conditions are met. Long-Term Debt The long-term debt included in the Parent Issuer / Guarantor column represents the Convertible Notes described in Note 8 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . Income Taxes The income tax expense (benefit) is presented as if each entity that is part of the consolidated group files a separate return.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The amendments in ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and allow for either full retrospective or modified retrospective adoption. Organizations are permitted to adopt the new revenue standard early, but not before December 15, 2016. The Company is currently evaluating the effect that the provisions of ASU 2014-09 will have on its consolidated financial statements and related disclosures. We have determined that the new standard, once effective, will preclude the Company from accounting for miles earned under its HawaiianMiles customer loyalty program using the incremental cost method, and will require use of the deferred revenue method. This change could have a significant impact on the Company's financial statements. In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03), requiring an entity to present its debt issuance costs on the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Company's financial statements.

Accumulated Other Comprehensi22

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Information related to amounts reclassified from AOCI	Reclassifications out of accumulated other comprehensive loss by component is as follows: Details about accumulated other comprehensive loss components Three months ended June 30, Six months ended June 30, Affected line items in the statement where net income is presented 2015 2014 2015 2014 (in thousands) Derivatives designated as hedging instruments under ASC 815 Foreign currency derivative gains, net $ (4,460 ) $ (1,608 ) $ (8,412 ) $ (5,226 ) Passenger revenue Interest rate derivative losses, net 179 206 366 417 Interest expense Total before tax (4,281 ) (1,402 ) (8,046 ) (4,809 ) Tax expense 1,618 527 3,040 1,815 Total, net of tax $ (2,663 ) $ (875 ) $ (5,006 ) $ (2,994 ) Amortization of defined benefit pension items Actuarial loss $ 2,680 $ 226 $ 5,360 $ 452 Wages and benefits Prior service cost (credit) 57 (1 ) 114 (2 ) Wages and benefits Total before tax 2,737 225 5,474 450 Tax benefit (1,038 ) (85 ) (2,076 ) (210 ) Total, net of tax $ 1,699 $ 140 $ 3,398 $ 240 Short-term investments Realized gain on sales of investments, net $ (25 ) $ (1 ) $ (35 ) $ (2 ) Other nonoperating income Total before tax (25 ) (1 ) (35 ) (2 ) Tax expense 6 — 7 — Total, net of tax $ (19 ) $ (1 ) $ (28 ) $ (2 ) Total reclassifications for the period $ (983 ) $ (736 ) $ (1,636 ) $ (2,756 )
Schedule of amounts included in accumulated other comprehensive loss, net of taxes	A rollforward of the amounts included in accumulated other comprehensive loss, net of taxes, for the three and six months ended June 30, 2015 and 2014 is as follows: Three months ended June 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ (108 ) $ 12,268 $ (133,862 ) $ 50 $ (121,652 ) Other comprehensive income (loss) before reclassifications, net of tax 260 928 — (105 ) 1,083 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 110 (2,773 ) 1,699 (19 ) (983 ) Net current-period other comprehensive income (loss) 370 (1,845 ) 1,699 (124 ) 100 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Three months ended June 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 865 $ 3,073 $ (51,854 ) $ (21 ) $ (47,937 ) Other comprehensive income (loss) before reclassifications, net of tax (520 ) (1,977 ) — 57 (2,440 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 126 (1,001 ) 140 (1 ) (736 ) Net current-period other comprehensive income (loss) (394 ) (2,978 ) 140 56 (3,176 ) Ending balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 ) Six months ended June 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 254 $ 12,708 $ (135,520 ) $ (254 ) $ (122,812 ) Other comprehensive income (loss) before reclassifications, net of tax (216 ) 2,945 (41 ) 208 2,896 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 224 (5,230 ) 3,398 (28 ) (1,636 ) Net current-period other comprehensive income (loss) 8 (2,285 ) 3,357 180 1,260 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Six months ended June 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 1,096 $ 8,277 $ (52,059 ) $ — $ (42,686 ) Other comprehensive income (loss) before reclassifications, net of tax (883 ) (4,930 ) 105 37 (5,671 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 258 (3,252 ) 240 (2 ) (2,756 ) Net current-period other comprehensive income (loss) (625 ) (8,182 ) 345 35 (8,427 ) Ending balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of earnings per share basic and diluted	Basic earnings per share, which excludes dilution, is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except for per share data) Numerator: Net Income $ 48,834 $ 27,327 $ 74,717 $ 22,252 Denominator: Weighted average common stock shares outstanding - Basic 54,619 53,499 54,617 53,095 Assumed exercise of stock options and awards 430 1,009 488 583 Assumed conversion of convertible note premium 546 4,972 2,252 2,133 Assumed conversion of warrants 6,260 3,367 6,033 1,235 Weighted average common stock shares outstanding - Diluted 61,855 62,847 63,390 57,046 Net Income Per Share Basic $ 0.89 $ 0.51 $ 1.37 $ 0.42 Diluted $ 0.79 $ 0.43 $ 1.18 $ 0.39
Summary of common stock equivalents that could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted loss per share because the instruments were antidilutive	The table below summarizes those common stock equivalents that could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted earnings per share because the instruments were antidilutive. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) Restricted stock 16 — 11 —

Short-Term Investments (Tables)

Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of short-term investments	The following is a summary of short-term investments held as of June 30, 2015 and December 31, 2014 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2015 (in thousands) Corporate debt $ 173,651 $ 56 $ (213 ) $ 173,494 U.S. government and agency debt 41,994 52 (2 ) 42,044 Municipal bonds 24,182 8 (14 ) 24,176 Other fixed income securities 21,572 — (5 ) 21,567 Total short-term investments $ 261,399 $ 116 $ (234 ) $ 261,281 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2014 (in thousands) Corporate debt $ 180,794 $ 43 $ (394 ) $ 180,443 U.S. government and agency debt 38,268 — (40 ) 38,228 Municipal bonds 23,849 4 (16 ) 23,837 Other fixed income securities 17,618 — (5 ) 17,613 Total short-term investments $ 260,529 $ 47 $ (455 ) $ 260,121
Schedule of contractual maturities of short-term investments	Contractual maturities of short-term investments as of June 30, 2015 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 67,168 $ 106,326 $ 173,494 U.S. government and agency debt 20,330 21,714 42,044 Municipal bonds 15,220 8,956 24,176 Other fixed income securities 19,063 2,504 21,567 Total short-term investments $ 121,781 $ 139,500 $ 261,281

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on a recurring basis	The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 30, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 104,044 $ 84,793 $ 19,251 $ — Restricted cash 5,000 5,000 — — Short-term investments 261,281 — 261,281 — Fuel derivative contracts: 0 Heating oil put options 4,836 — 4,836 — Heating oil swaps 3,171 — 3,171 — Foreign currency derivatives 13,699 — 13,699 — Total assets measured at fair value $ 392,031 $ 89,793 $ 302,238 $ — Fuel derivative contracts: Heating oil swaps $ 19,739 $ — $ 19,739 $ — Foreign currency derivatives 152 — 152 — Interest rate derivative 68 — 68 — Total liabilities measured at fair value $ 19,959 $ — $ 19,959 $ — Fair Value Measurements as of December 31, 2014 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 55,072 $ 35,913 $ 19,159 $ — Restricted cash 6,566 6,566 — — Short-term investments 260,121 — 260,121 — Fuel derivative contracts: 0 Heating oil put options 32,637 — 32,637 — Foreign currency derivatives 19,746 — 19,746 — Total assets measured at fair value $ 374,142 $ 42,479 $ 331,663 $ — Fuel derivative contracts: Heating oil swaps $ 71,447 $ — $ 71,447 $ — Interest rate derivative 129 — 129 — Negative arbitrage derivative 500 — — 500 Total liabilities measured at fair value $ 72,076 $ — $ 71,576 $ 500
Schedule of debt (excluding obligations under capital leases) measured at fair value	The table below presents the Company’s debt (excluding obligations under capital leases) measured at fair value: Fair Value of Debt June 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) (in thousands) $ 846,611 $ 851,993 $ — $ 4,272 $ 847,721 $ 947,897 $ 956,811 $ — $ 69,766 $ 887,045

Financial Derivative Instrume26

Financial Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of realized and unrealized gains and losses recorded as nonoperating income (expense)	The following table reflects the amount of realized and unrealized gains and losses recorded as nonoperating income (expense) in the unaudited Consolidated Statements of Operations. Three months ended June 30, Six months ended June 30, Fuel derivative contracts 2015 2014 2015 2014 (in thousands) Losses realized at settlement $ (16,553 ) $ (2,009 ) $ (31,144 ) $ (1,899 ) Reversal of prior period unrealized amounts 16,327 2,625 29,313 (1,613 ) Unrealized gains (losses) that will settle in future periods 2,252 5,669 (1,830 ) 2,898 Gains (losses) on fuel derivatives recorded as Nonoperating income (expense) $ 2,026 $ 6,285 $ (3,661 ) $ (614 )
Schedule of fair value of the asset and liability derivatives and net derivative position recorded	The following tables present the gross fair value of asset and liability derivatives that are designated as hedging instruments under ASC 815 and derivatives that are not designated as hedging instruments under ASC 815, as well as the net derivative positions and location of the asset and liability balances within the unaudited Consolidated Balance Sheets. Derivative position as of June 30, 2015 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $54,200 U.S. dollars April 2023 $ — $ (14 ) $ (14 ) Other liabilities and deferred credits (1) — (54 ) (54 ) Foreign currency derivatives Prepaid expenses and other 7,629,030 Japanese Yen June 2016 11,542 (76 ) 11,466 Long-term prepayments and other 3,753,650 Japanese Yen May 2017 2,112 (57 ) 2,055 Derivatives not designated as hedges 0 Foreign currency derivatives Prepaid expenses and other 4,367,750 Japanese Yen June 2016 41 (19 ) 22 Long-term prepayments and other 957,000 Japanese Yen August 2016 4 — 4 Fuel derivative contracts Prepaid expenses and other 14,414 gallons May 2016 1,082 (513 ) 569 Other accrued liabilities 67,953 gallons June 2016 6,925 (19,226 ) (12,301 ) (1) Represents the noncurrent portion of the $54.2 million interest rate derivative with final maturity in April 2023. Derivative position as of December 31, 2014 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $57,400 U.S. dollars April 2023 $ — $ (26 ) $ (26 ) Other liabilities and deferred credits(1) — (103 ) (103 ) Foreign currency derivatives Prepaid expenses and other 6,909,050 Japanese Yen December 2015 13,921 — 13,921 Long-term prepayments and other 3,758,500 Japanese Yen November 2016 4,565 — 4,565 Derivatives not designated as hedges Foreign currency derivatives Prepaid expenses and other 7,714,291 Japanese Yen December 2015 1,191 — 1,191 Long-term prepayments and other 2,762,000 Japanese Yen August 2016 69 — 69 Fuel derivative contracts Other accrued liabilities 90,994 gallons December 2015 32,637 (71,447 ) (38,810 ) Negative arbitrage derivative Other accrued liabilities $444,540 U.S. dollars January 2015 — (500 ) (500 ) (1) Represents the noncurrent portion of the $57.4 million interest rate derivative with final maturity in April 2023.
Schedule of realized and unrealized gains and losses of derivatives designated as cash flow hedges	The following table reflects the impact of cash flow hedges designated for hedge accounting treatment and their location within the unaudited Consolidated Statements of Comprehensive Income (Loss). (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended June 30, Three months ended June 30, Three months ended June 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (1,492 ) $ 3,180 $ (4,460 ) $ (1,608 ) $ — $ — Interest rate derivatives (619 ) 605 179 206 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Six months ended June 30, Six months ended June 30, Six months ended June 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (4,737 ) $ 7,708 $ (8,412 ) $ (5,226 ) $ — $ — Interest rate derivatives (62 ) 951 366 417 — —

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of expected maturities of long-term debt	As of June 30, 2015 , the expected maturities of long-term debt for the remainder of 2015 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2015 $ 45,961 2016 82,861 2017 82,092 2018 87,425 2019 99,070 Thereafter 449,317 $ 846,726

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Future minimum rental payments	As of June 30, 2015 , the scheduled future minimum rental payments under operating leases with non-cancellable basic terms of more than one year were as follows: Aircraft Other (in thousands) Remaining months in 2015 $ 55,746 $ 2,756 2016 102,656 5,405 2017 98,384 4,717 2018 97,635 4,648 2019 97,491 4,356 Thereafter 290,757 26,481 $ 742,669 $ 48,363

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of net periodic benefit cost	The components of net periodic benefit cost for the Company’s defined benefit and other postretirement plans included the following: Three months ended June 30, Six months ended June 30, Components of Net Period Benefit Cost 2015 2014 2015 2014 (in thousands) Service cost $ 4,225 $ 2,952 $ 8,450 $ 5,904 Interest cost 7,389 6,986 14,778 13,972 Expected return on plan assets (4,716 ) (4,845 ) (9,432 ) (9,690 ) Recognized net actuarial loss 2,737 225 5,474 450 Net periodic benefit cost $ 9,635 $ 5,318 $ 19,270 $ 10,636

Commitments and Contingent Li30

Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of firm aircraft and engine orders	As of June 30, 2015 , the Company had the following capital commitments consisting of firm aircraft and engine orders and purchase rights: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A330-200 aircraft 1 — In 2015 A330-800neo aircraft 6 6 Between 2019 and 2021 A321neo aircraft 16 9 Between 2017 and 2020 ATR turboprop aircraft 3 — In 2015 Rolls-Royce spare engines: A330-800neo spare engines 2 — Between 2019 and 2020 Pratt & Whitney spare engines: A321neo spare engines 2 — Between 2017 and 2018
Schedule of committed capital and operating expenditures	The gross committed expenditures and committed financings for those deliveries as of June 30, 2015 are detailed below: Capital Operating Total Committed Less: Committed Net Committed (in thousands) Remaining months in 2015 $ 79,029 $ 35,166 $ 114,195 $ 48,138 $ 66,057 2016 78,018 58,719 136,737 — 136,737 2017 220,433 58,637 279,070 — 279,070 2018 397,793 51,942 449,735 — 449,735 2019 481,519 47,362 528,881 — 528,881 Thereafter 433,101 264,181 697,282 — 697,282 $ 1,689,893 $ 516,007 $ 2,205,900 $ 48,138 $ 2,157,762 *See below for a detailed discussion of the committed financings Hawaiian has received for its upcoming capital commitments for aircraft deliveries.

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Non-cash investing and financing activities for the six months ended June 30, 2015 and 2014 were as follows: Six months ended June 30, 2015 2014 (in thousands) Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through a capital lease $ 2,791 $ —

Condensed Consolidating Finan32

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Consolidating Financial Information
Schedule of Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)	Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 570,254 $ 1,168 $ (127 ) $ 571,295 Operating Expenses: Aircraft fuel, including taxes and delivery — 112,519 — — 112,519 Wages and benefits — 123,977 — — 123,977 Aircraft rent — 28,817 — — 28,817 Maintenance materials and repairs — 56,555 516 — 57,071 Aircraft and passenger servicing — 29,348 — — 29,348 Commissions and other selling — 30,505 19 (40 ) 30,484 Depreciation and amortization — 26,790 747 — 27,537 Other rentals and landing fees — 23,248 — — 23,248 Other 1,252 45,422 291 (87 ) 46,878 Total 1,252 477,181 1,573 (127 ) 479,879 Operating Income (Loss) (1,252 ) 93,073 (405 ) — 91,416 Nonoperating Income (Expense): Undistributed net income of subsidiaries 49,759 — — (49,759 ) — Interest expense and amortization of debt discounts and issuance costs (156 ) (13,562 ) — — (13,718 ) Interest income 53 672 — — 725 Capitalized interest — 975 — — 975 Gains on fuel derivatives — 2,026 — — 2,026 Loss on extinguishment of debt (287 ) — — — (287 ) Other, net — (1,876 ) — — (1,876 ) Total 49,369 (11,765 ) — (49,759 ) (12,155 ) Income (Loss) Before Income Taxes 48,117 81,308 (405 ) (49,759 ) 79,261 Income tax expense (benefit) (717 ) 31,144 — — 30,427 Net Income (Loss) $ 48,834 $ 50,164 $ (405 ) $ (49,759 ) $ 48,834 Comprehensive Income (Loss) $ 48,934 $ 50,264 $ (405 ) $ (49,859 ) $ 48,934 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 574,779 $ 1,025 $ (84 ) $ 575,720 Operating Expenses: Aircraft fuel, including taxes and delivery — 174,139 — — 174,139 Wages and benefits — 112,478 — — 112,478 Aircraft rent — 26,095 — — 26,095 Maintenance materials and repairs — 58,172 227 — 58,399 Aircraft and passenger servicing — 30,860 — — 30,860 Commissions and other selling — 30,778 19 (24 ) 30,773 Depreciation and amortization — 23,130 635 — 23,765 Other rentals and landing fees — 21,656 — — 21,656 Other 1,507 44,302 212 (60 ) 45,961 Total 1,507 521,610 1,093 (84 ) 524,126 Operating Income (Loss) (1,507 ) 53,169 (68 ) — 51,594 Nonoperating Income (Expense): Undistributed net income of subsidiaries 29,694 — — (29,694 ) — Interest expense and amortization of debt discounts and issuance costs (2,210 ) (13,787 ) — — (15,997 ) Interest income 40 358 — — 398 Capitalized interest — 1,974 — — 1,974 Gains on fuel derivatives — 6,285 — — 6,285 Other, net — 725 — — 725 Total 27,524 (4,445 ) — (29,694 ) (6,615 ) Income (Loss) Before Income Taxes 26,017 48,724 (68 ) (29,694 ) 44,979 Income tax expense (benefit) (1,310 ) 18,962 — — 17,652 Net Income (Loss) $ 27,327 $ 29,762 $ (68 ) $ (29,694 ) $ 27,327 Comprehensive Income (Loss) $ 24,151 $ 26,586 $ (68 ) $ (26,518 ) $ 24,151 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,109,461 $ 2,341 $ (227 ) $ 1,111,575 Operating Expenses: Aircraft fuel, including taxes and delivery — 223,846 — — 223,846 Wages and benefits — 243,991 — — 243,991 Aircraft rent — 57,188 — — 57,188 Maintenance materials and repairs — 111,468 848 — 112,316 Aircraft and passenger servicing — 57,664 — — 57,664 Commissions and other selling 4 60,946 31 (69 ) 60,912 Depreciation and amortization — 51,222 1,494 — 52,716 Other rentals and landing fees — 46,079 — — 46,079 Other 3,237 90,743 461 (158 ) 94,283 Total 3,241 943,147 2,834 (227 ) 948,995 Operating Income (Loss) (3,241 ) 166,314 (493 ) — 162,580 Nonoperating Income (Expense): Undistributed net income of subsidiaries 82,322 — — (82,322 ) — Interest expense and amortization of debt discounts and issuance costs (1,592 ) (27,644 ) — — (29,236 ) Interest income 109 1,252 — — 1,361 Capitalized interest — 2,268 — — 2,268 Losses on fuel derivatives — (3,661 ) — — (3,661 ) Loss on extinguishment of debt (7,242 ) — — — (7,242 ) Other, net — (4,810 ) — — (4,810 ) Total 73,597 (32,595 ) — (82,322 ) (41,320 ) Income (Loss) Before Income Taxes 70,356 133,719 (493 ) (82,322 ) 121,260 Income tax expense (benefit) (4,361 ) 50,904 — — 46,543 Net Income (Loss) $ 74,717 $ 82,815 $ (493 ) $ (82,322 ) $ 74,717 Comprehensive Income (Loss) $ 75,977 $ 84,075 $ (493 ) $ (83,582 ) $ 75,977 Condensed Consolidating Statements of Operations and Comprehensive Income Six months ended June 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,099,106 $ 1,656 $ (184 ) $ 1,100,578 Operating Expenses: Aircraft fuel, including taxes and delivery — 345,278 — — 345,278 Wages and benefits — 219,972 — — 219,972 Aircraft rent — 52,374 — — 52,374 Maintenance materials and repairs — 116,470 239 — 116,709 Aircraft and passenger servicing — 61,081 — — 61,081 Commissions and other selling — 62,125 32 (49 ) 62,108 Depreciation and amortization — 45,842 734 — 46,576 Other rentals and landing fees — 42,218 — — 42,218 Other 2,769 89,438 559 (135 ) 92,631 Total 2,769 1,034,798 1,564 (184 ) 1,038,947 Operating Income (Loss) (2,769 ) 64,308 92 — 61,631 Nonoperating Income (Expense): Undistributed net income of subsidiaries 26,887 — — (26,887 ) — Interest expense and amortization of debt discounts and issuance costs (4,390 ) (26,617 ) — — (31,007 ) Interest income 79 538 — — 617 Capitalized interest — 4,750 — — 4,750 Losses on fuel derivatives — (614 ) — — (614 ) Other, net — 1,310 — — 1,310 Total 22,576 (20,633 ) — (26,887 ) (24,944 ) Income Before Income Taxes 19,807 43,675 92 (26,887 ) 36,687 Income tax expense (benefit) (2,445 ) 16,880 — — 14,435 Net Income (Loss) $ 22,252 $ 26,795 $ 92 $ (26,887 ) $ 22,252 Comprehensive Income $ 13,825 $ 18,368 $ 92 $ (18,460 ) $ 13,825
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782 Restricted cash — 5,000 — — 5,000 Short-term investments — 261,281 — — 261,281 Accounts receivable, net 63 83,793 224 (209 ) 83,871 Spare parts and supplies, net — 20,399 — — 20,399 Deferred tax assets, net — 22,657 — — 22,657 Prepaid expenses and other 79 47,929 43 — 48,051 Total 36,965 725,626 23,659 (209 ) 786,041 Property and equipment at cost — 1,958,973 41,952 — 2,000,925 Less accumulated depreciation and amortization — (389,297 ) (3,695 ) — (392,992 ) Property and equipment, net — 1,569,676 38,257 — 1,607,933 Long-term prepayments and other 21 95,278 — — 95,299 Deferred tax assets, net 24,917 — — (24,917 ) — Goodwill and other intangible assets, net — 126,643 — — 126,643 Intercompany receivable — 189,654 — (189,654 ) — Investment in consolidated subsidiaries 462,589 — — (462,589 ) — TOTAL ASSETS $ 524,492 $ 2,706,877 $ 61,916 $ (677,369 ) $ 2,615,916 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 345 $ 102,874 $ 608 $ (209 ) $ 103,618 Air traffic liability — 542,658 2,289 — 544,947 Other accrued liabilities 351 122,133 145 — 122,629 Current maturities of long-term debt, less discount, and capital lease obligations 4,173 94,221 — — 98,394 Total 4,869 861,886 3,042 (209 ) 869,588 Long-term debt and capital lease obligations — 848,217 — — 848,217 Intercompany payable 189,654 — — (189,654 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 406,804 — — 406,804 Other liabilities and deferred credits 1,275 79,347 750 — 81,372 Deferred tax liabilities, net — 106,158 — (24,917 ) 81,241 Total 1,275 592,309 750 (24,917 ) 569,417 Shareholders’ equity 328,694 404,465 58,124 (462,589 ) 328,694 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 524,492 $ 2,706,877 $ 61,916 $ (677,369 ) $ 2,615,916 Condensed Consolidating Balance Sheets December 31, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 79,532 $ 179,676 $ 4,879 $ — $ 264,087 Restricted cash — 6,566 — — 6,566 Short-term investments — 260,121 — — 260,121 Accounts receivable, net 63 80,289 531 (146 ) 80,737 Spare parts and supplies, net — 18,011 — — 18,011 Deferred tax assets, net — 21,943 — — 21,943 Prepaid expenses and other 12 53,281 89 — 53,382 Total 79,607 619,887 5,499 (146 ) 704,847 Property and equipment at cost — 2,006,274 34,726 — 2,041,000 Less accumulated depreciation and amortization — (365,279 ) (2,228 ) — (367,507 ) Property and equipment, net — 1,640,995 32,498 — 1,673,493 Long-term prepayments and other 537 95,688 — — 96,225 Deferred tax assets, net 20,556 — — (20,556 ) — Goodwill and other intangible assets, net — 127,963 — — 127,963 Intercompany receivable — 15,081 — (15,081 ) — Investment in consolidated subsidiaries 351,391 — — (351,391 ) — TOTAL ASSETS $ 452,091 $ 2,499,614 $ 37,997 $ (387,174 ) $ 2,602,528 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 514 $ 96,196 $ 696 $ (146 ) $ 97,260 Air traffic liability — 421,547 2,789 — 424,336 Other accrued liabilities 1,686 140,088 145 — 141,919 Current maturities of long-term debt, less discount, and capital lease obligations 66,530 89,819 — — 156,349 Total 68,730 747,650 3,630 (146 ) 819,864 Long-term debt and capital lease obligations — 893,288 — — 893,288 Intercompany payable 15,081 — — (15,081 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 407,864 — — 407,864 Other liabilities and deferred credits 1,047 70,853 750 — 72,650 Deferred tax liabilities, net — 62,185 — (20,556 ) 41,629 Total 1,047 540,902 750 (20,556 ) 522,143 Shareholders’ equity 367,233 317,774 33,617 (351,391 ) 367,233 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 452,091 $ 2,499,614 $ 37,997 $ (387,174 ) $ 2,602,528
Schedule of Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,349 ) $ 299,009 $ 860 $ — $ 297,520 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (170,209 ) — 195,209 — Additions to property and equipment, including pre-delivery deposits — (65,500 ) (7,402 ) — (72,902 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Proceeds from disposition of property and equipment — 3,458 55 — 3,513 Purchases of investments — (115,218 ) — — (115,218 ) Sales of investments — 112,886 — — 112,886 Net cash provided by (used in) investing activities (25,000 ) (148,550 ) (7,347 ) 195,209 14,312 Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (43,460 ) — — (43,460 ) Repurchases of convertible notes (168,407 ) — — — (168,407 ) Net payments from affiliates 170,209 — 25,000 (195,209 ) — Repurchases of common stock (17,621 ) — — — (17,621 ) Other 459 (2,108 ) — — (1,649 ) Net cash provided by (used in) financing activities (15,360 ) (45,568 ) 25,000 (195,209 ) (231,137 ) Net increase (decrease) in cash and cash equivalents (42,709 ) 104,891 18,513 — 80,695 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2014 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (4,537 ) $ 207,836 $ 670 $ — $ 203,969 Cash Flows From Investing Activities: Net payments to subsidiaries (38,829 ) — — 38,829 — Additions to property and equipment, including pre-delivery deposits — (329,927 ) (1,839 ) — (331,766 ) Proceeds from disposition of property and equipment — 350 — — 350 Purchases of investments — (234,143 ) — — (234,143 ) Sales of investments — 30,859 — — 30,859 Net cash used in investing activities (38,829 ) (532,861 ) (1,839 ) 38,829 (534,700 ) Cash Flows From Financing Activities: Long-term borrowings — 293,430 — — 293,430 Repayments of long-term debt and capital lease obligations — (30,756 ) — — (30,756 ) Net payments from parent company — 38,829 — (38,829 ) — Other 4,333 621 — — 4,954 Net cash provided by financing activities 4,333 302,124 — (38,829 ) 267,628 Net decrease in cash and cash equivalents (39,033 ) (22,901 ) (1,169 ) — (63,103 ) Cash and cash equivalents - Beginning of Period 84,797 333,663 4,924 — 423,384 Cash and cash equivalents - End of Period $ 45,764 $ 310,762 $ 3,755 $ — $ 360,281

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Amounts reclassified from AOCI
Foreign currency derivative gains, net	$ 499,387	$ 506,797	$ 968,532	$ 974,810
Interest rate derivative losses, net	(13,718)	(15,997)	(29,236)	(31,007)
Income Before Income Taxes	79,261	44,979	121,260	36,687
Tax expense (benefit)	(30,427)	(17,652)	(46,543)	(14,435)
Net Income	48,834	27,327	74,717	22,252
Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Net Income	(983)	(736)	(1,636)	(2,756)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Income Before Income Taxes	(4,281)	(1,402)	(8,046)	(4,809)
Tax expense (benefit)	1,618	527	3,040	1,815
Net Income	(2,663)	(875)	(5,006)	(2,994)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss | Foreign currency derivatives gains
Amounts reclassified from AOCI
Foreign currency derivative gains, net	(4,460)	(1,608)	(8,412)	(5,226)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss | Interest rate derivatives loss
Amounts reclassified from AOCI
Interest rate derivative losses, net	179	206	366	417
Defined benefit pension | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Actuarial loss	2,680	226	5,360	452
Prior service cost (credit)	57	(1)	114	(2)
Income Before Income Taxes	2,737	225	5,474	450
Tax expense (benefit)	(1,038)	(85)	(2,076)	(210)
Net Income	1,699	140	3,398	240
Short-Term Investments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Realized gain on sales of investments, net	(25)	(1)	(35)	(2)
Income Before Income Taxes	(25)	(1)	(35)	(2)
Tax expense (benefit)	6	0	7	0
Net Income	$ (19)	$ (1)	$ (28)	$ (2)

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss - Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	$ (121,652)	$ (47,937)	$ (122,812)	$ (42,686)
Other comprehensive income (loss) before reclassifications, net of tax	1,083	(2,440)	2,896	(5,671)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(983)	(736)	(1,636)	(2,756)
Total other comprehensive income (loss)	100	(3,176)	1,260	(8,427)
Ending balance	(121,552)	(51,113)	(121,552)	(51,113)
Gains (losses) on derivatives designated as hedging instruments | Interest Rate Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(108)	865	254	1,096
Other comprehensive income (loss) before reclassifications, net of tax	260	(520)	(216)	(883)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	110	126	224	258
Total other comprehensive income (loss)	370	(394)	8	(625)
Ending balance	262	471	262	471
Gains (losses) on derivatives designated as hedging instruments | Foreign Currency Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	12,268	3,073	12,708	8,277
Other comprehensive income (loss) before reclassifications, net of tax	928	(1,977)	2,945	(4,930)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(2,773)	(1,001)	(5,230)	(3,252)
Total other comprehensive income (loss)	(1,845)	(2,978)	(2,285)	(8,182)
Ending balance	10,423	95	10,423	95
Defined Benefit Pension Items
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(133,862)	(51,854)	(135,520)	(52,059)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	(41)	105
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,699	140	3,398	240
Total other comprehensive income (loss)	1,699	140	3,357	345
Ending balance	(132,163)	(51,714)	(132,163)	(51,714)
Short-Term Investments
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	50	(21)	(254)	0
Other comprehensive income (loss) before reclassifications, net of tax	(105)	57	208	37
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(19)	(1)	(28)	(2)
Total other comprehensive income (loss)	(124)	56	180	35
Ending balance	$ (74)	$ 35	$ (74)	$ 35

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Potential Dilution (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Net Income	$ 48,834	$ 27,327	$ 74,717	$ 22,252
Denominator:
Weighted average common stock shares outstanding - Basic	54,619	53,499	54,617	53,095
Assumed exercise of stock options and awards	430	1,009	488	583
Assumed conversion of convertible note premium	546	4,972	2,252	2,133
Assumed conversion of warrants	6,260	3,367	6,033	1,235
Weighted average common stock shares outstanding - Diluted	61,855	62,847	63,390	57,046
Net Income Per Share
Basic (in dollars per share)	$ 0.89	$ 0.51	$ 1.37	$ 0.42
Diluted (in dollars per share)	$ 0.79	$ 0.43	$ 1.18	$ 0.39

Earnings Per Share - Summary of

Earnings Per Share - Summary of Antidilutive Instruments and Narrative (Details) $ / shares in Units, shares in Thousands, equity_instrument in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014shares	Jun. 30, 2015USD ($)equity_instrument$ / sharesshares	Jun. 30, 2014shares	Mar. 31, 2011
Restricted stock
Debt Instrument [Line Items]
Antidilutive securities excluded from computation of earnings (loss) per share | shares	16	0	11	0
Warrants
Debt Instrument [Line Items]
Warrant strike price (per share) | $ / shares	$ 10		$ 10
5% convertible notes, due in 2016 | Convertible Debt [Member]
Debt Instrument [Line Items]
Stated interest rate (as a percent)					5.00%
Principal amount	$ 4.2		$ 4.2
Repurchase of convertible notes, principal amount	$ 3.8		$ 66.8
Number of shares in which the convertible note can be converted | equity_instrument			0.5
Conversion price (in dollars per share) | $ / shares	$ 7.88		$ 7.88

Earnings Per Share -Share Repur

Earnings Per Share -Share Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Apr. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Repurchase Amount		$ 100
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 82.4
Common Stock
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Value	$ 17.6
Stock Repurchased During Period, Shares	800,000

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Short-Term Investments
Amortized Cost	$ 261,399	$ 260,529
Gross Unrealized Gains	116	47
Gross Unrealized Losses	(234)	(455)
Fair Value	261,281	260,121
Contractual maturities of short-term investments
Under 1 Year	121,781
1 to 5 Years	139,500
Total	261,281
Corporate debt
Short-Term Investments
Amortized Cost	173,651	180,794
Gross Unrealized Gains	56	43
Gross Unrealized Losses	(213)	(394)
Fair Value	173,494	180,443
Contractual maturities of short-term investments
Under 1 Year	67,168
1 to 5 Years	106,326
Total	173,494
U.S. government and agency debt
Short-Term Investments
Amortized Cost	41,994	38,268
Gross Unrealized Gains	52	0
Gross Unrealized Losses	(2)	(40)
Fair Value	42,044	38,228
Contractual maturities of short-term investments
Under 1 Year	20,330
1 to 5 Years	21,714
Total	42,044
Municipal bonds
Short-Term Investments
Amortized Cost	24,182	23,849
Gross Unrealized Gains	8	4
Gross Unrealized Losses	(14)	(16)
Fair Value	24,176	23,837
Contractual maturities of short-term investments
Under 1 Year	15,220
1 to 5 Years	8,956
Total	24,176
Other fixed income securities
Short-Term Investments
Amortized Cost	21,572	17,618
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5)	(5)
Fair Value	21,567	$ 17,613
Contractual maturities of short-term investments
Under 1 Year	19,063
1 to 5 Years	2,504
Total	$ 21,567

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities, Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets measured at fair value
Short-term investments	$ 261,281	$ 260,121
Recurring basis
Assets measured at fair value
Cash equivalents	104,044	55,072
Restricted cash	5,000	6,566
Short-term investments	261,281	260,121
Total assets measured at fair value	392,031	374,142
Liabilities measured at fair value
Total liabilities measured at fair value	19,959	72,076
Recurring basis | Fuel derivative contracts | Heating oil put options
Assets measured at fair value
Derivative contracts	4,836	32,637
Recurring basis | Fuel derivative contracts | Heating oil swaps
Assets measured at fair value
Derivative contracts	3,171
Liabilities measured at fair value
Derivative contracts	19,739	71,447
Recurring basis | Foreign Currency Derivatives
Assets measured at fair value
Derivative contracts	13,699	19,746
Liabilities measured at fair value
Derivative contracts	152
Recurring basis | Interest Rate Derivatives
Liabilities measured at fair value
Derivative contracts	68	129
Recurring basis | Negative interest arbitrage derivative
Liabilities measured at fair value
Derivative contracts		500
Recurring basis | Level 1
Assets measured at fair value
Cash equivalents	84,793	35,913
Restricted cash	5,000	6,566
Total assets measured at fair value	89,793	42,479
Recurring basis | Level 2
Assets measured at fair value
Cash equivalents	19,251	19,159
Short-term investments	261,281	260,121
Total assets measured at fair value	302,238	331,663
Liabilities measured at fair value
Total liabilities measured at fair value	19,959	71,576
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil put options
Assets measured at fair value
Derivative contracts	4,836	32,637
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil swaps
Assets measured at fair value
Derivative contracts	3,171
Liabilities measured at fair value
Derivative contracts	19,739	71,447
Recurring basis | Level 2 | Foreign Currency Derivatives
Assets measured at fair value
Derivative contracts	13,699	19,746
Liabilities measured at fair value
Derivative contracts	152
Recurring basis | Level 2 | Interest Rate Derivatives
Liabilities measured at fair value
Derivative contracts	$ 68	129
Recurring basis | Level 3
Liabilities measured at fair value
Total liabilities measured at fair value		500
Recurring basis | Level 3 | Negative interest arbitrage derivative
Liabilities measured at fair value
Derivative contracts		$ 500

Fair Value Measurements - Sch40

Fair Value Measurements - Schedule of Certain Debt (Details) - Recurring basis - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value Measurements
Carrying value of debt	$ 846,611	$ 947,897
Fair value of debt	851,993	956,811
Level 2
Fair Value Measurements
Fair value of debt	4,272	69,766
Level 3
Fair Value Measurements
Fair value of debt	$ 847,721	$ 887,045

Financial Derivative Instrume41

Financial Derivative Instruments - Risk Management (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative instrument
Gains (losses) on fuel derivatives recorded as Nonoperating income (expense)	$ 2,026	$ 6,285	$ (3,661)	$ (614)
Derivatives Not Designated as Hedging Instruments | Fuel derivative contracts
Derivative instrument
Losses realized at settlement	(16,553)	(2,009)	(31,144)	(1,899)
Reversal of prior period unrealized amounts	16,327	2,625	29,313	(1,613)
Unrealized gains (losses) that will settle in future periods	2,252	5,669	(1,830)	2,898
Gains (losses) on fuel derivatives recorded as Nonoperating income (expense)	$ 2,026	$ 6,285	(3,661)	$ (614)
Derivatives Designated as Hedging Instruments | Foreign Currency Derivatives
Derivative instrument
Accumulated other comprehensive income (loss) expected to be reclassified to earnings in the next 12 months			$ 13,600
Reclassification estimated time period			12 months

Financial Derivative Instrume42

Financial Derivative Instruments - Derivative Position (Details) ¥ in Thousands, gal in Thousands, AUD in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015JPY (¥)gal	Dec. 31, 2014JPY (¥)gal	Jun. 30, 2015AUD	Jun. 30, 2015USD ($)	Dec. 31, 2014AUD	Dec. 31, 2014USD ($)
Derivatives designated as hedging instruments | Interest Rate Derivatives
Fair Value of Derivatives
Notional Amount				$ 54,200		$ 57,400
Derivatives designated as hedging instruments | Interest Rate Derivatives | Other Current Liabilities
Fair Value of Derivatives
Gross fair value of assets, current				0		0
Gross fair value of liabilities, current				(14)		(26)
Net derivative position				(14)		(26)
Derivatives designated as hedging instruments | Interest Rate Derivatives | Deferred Credits and Other Liabilities
Fair Value of Derivatives
Gross fair value of assets, noncurrent				0		0
Gross fair value of liabilities, noncurrent				(54)		(103)
Net derivative position				(54)		(103)
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Gross fair value of assets, current				11,542		13,921
Gross fair value of liabilities, current				(76)		0
Net derivative position				11,466		13,921
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Long-term prepayments and other
Fair Value of Derivatives
Gross fair value of assets, noncurrent				2,112		4,565
Gross fair value of liabilities, noncurrent				(57)
Net derivative position				2,055		4,565
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Japanese yen | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount | ¥	¥ 7,629,030	¥ 6,909,050
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Japanese yen | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount | ¥	3,753,650	3,758,500
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Australian dollar | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount | AUD			AUD 38,901		AUD 51,380
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Australian dollar | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount | AUD			7,075		13,080
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Gross fair value of assets, current				41		1,191
Gross fair value of liabilities, current				(19)		0
Net derivative position				22		1,191
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Long-term prepayments and other
Fair Value of Derivatives
Gross fair value of assets, noncurrent				4		69
Gross fair value of liabilities, noncurrent				0		0
Net derivative position				4		69
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Japanese yen | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount | ¥	4,367,750	7,714,291
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Japanese yen | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount | ¥	¥ 957,000	¥ 2,762,000
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Australian dollar | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount | AUD			16,945		43,546
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Australian dollar | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount | AUD			AUD 118		AUD 3,500
Derivatives not designated as hedging instruments | Fuel derivative contracts | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount (Volume) | gal	14,414
Gross fair value of assets, current				1,082
Gross fair value of liabilities, current				(513)
Net derivative position				569
Derivatives not designated as hedging instruments | Fuel derivative contracts | Other Current Liabilities
Fair Value of Derivatives
Notional Amount (Volume) | gal	67,953	90,994
Gross fair value of assets, current				6,925		32,637
Gross fair value of liabilities, current				(19,226)		(71,447)
Net derivative position				$ (12,301)		(38,810)
Derivatives not designated as hedging instruments | Negative arbitrage derivative | Other Current Liabilities
Fair Value of Derivatives
Notional Amount						444,540
Gross fair value of liabilities, current						(500)
Net derivative position						$ (500)

Financial Derivative Instrume43

Financial Derivative Instruments - Impact of Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign Currency Derivatives
Gains (losses) for designated hedge contracts
(Gain) loss recognized in AOCI on derivatives (effective portion)	$ (1,492)	$ 3,180	$ (4,737)	$ 7,708
(Gain) loss reclassified from AOCI into income (effective portion)	(4,460)	(1,608)	8,412	(5,226)
(Gain) loss recognized in nonoperating (income) expense (ineffective portion)	0	0	0	0
Interest Rate Derivatives
Gains (losses) for designated hedge contracts
(Gain) loss recognized in AOCI on derivatives (effective portion)	(619)	605	(62)	951
(Gain) loss reclassified from AOCI into income (effective portion)	179	206	366	417
(Gain) loss recognized in nonoperating (income) expense (ineffective portion)	$ 0	$ 0	$ 0	$ 0

Financial Derivative Instrume44

Financial Derivative Instruments - Risk and Collateral (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Credit Derivatives [Line Items]
Collateral posted with counterparties	$ 0	$ 600,000
Fuel derivative contracts | Other accrued liabilities | Derivatives not designated as hedging instruments
Credit Derivatives [Line Items]
Net derivative position	$ (12,301,000)	$ (38,810,000)

Debt - Schedule of Maturities (

Debt - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
Remaining months in 2015	$ 45,961
2,016	82,861
2,017	82,092
2,018	87,425
2,019	99,070
Thereafter	449,317
Long-term Debt, Gross	$ 846,726

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Repayments of Convertible Debt			$ 168,407	$ 0
Loss on extinguishment of debt	$ (287)	$ 0	(7,242)	$ 0
Convertible Debt [Member] | 5% convertible notes, due in 2016
Debt Instrument [Line Items]
Debt Instrument, Face Amount	4,200		4,200
Repurchase of convertible notes, principal amount	3,800		66,800
Repayments of Convertible Debt	11,900		168,400
Loss on extinguishment of debt	$ (288)		$ (7,242)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2014	Jun. 30, 2015
Air Transportation Equipment
Operating Leased Assets [Line Items]
Remaining months in 2015		$ 55,746
2,016		102,656
2,017		98,384
2,018		97,635
2,019		97,491
Thereafter		290,757
Operating Leases, Future Minimum Payments Due		742,669
Other Lease
Operating Leased Assets [Line Items]
Remaining months in 2015		2,756
2,016		5,405
2,017		4,717
2,018		4,648
2,019		4,356
Thereafter		26,481
Operating Leases, Future Minimum Payments Due		$ 48,363
A330-200 aircraft
Operating Leased Assets [Line Items]
Sale Leaseback, Length of Time	12 years	12 years

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Components of Net Periodic Benefit Cost
Service cost	$ 4,225	$ 2,952	$ 8,450	$ 5,904
Interest cost	7,389	6,986	14,778	13,972
Expected return on plan assets	(4,716)	(4,845)	(9,432)	(9,690)
Recognized net actuarial loss	2,737	225	5,474	450
Net periodic benefit cost	9,635	5,318	19,270	10,636
Employer contribution	$ 800	$ 3,800	13,600	$ 6,600
Defined Benefit Plan, Discretionary Contributions by Employer			$ 7,300

Commitments and Contingent Li49

Commitments and Contingent Liabilities - Capital Commitments and Operating Expenditures (Details) - Jun. 30, 2015 $ in Thousands	USD ($)spare_engine_orderedaircraft_purchase_rightaircraft_firm_order
Total Committed Expenditures
Remaining months in 2015	$ 114,195
2,016	136,737
2,017	279,070
2,018	449,735
2,019	528,881
Thereafter	697,282
Total	2,205,900
Less: Committed Financing for Upcoming Aircraft Deliveries
Remaining months in 2015	48,138
Total	48,138
Net Committed Expenditures
Remaining months in 2015	66,057
2,016	136,737
2,017	279,070
2,018	449,735
2,019	528,881
Thereafter	697,282
Total	2,157,762
Capital
Total Committed Expenditures
Remaining months in 2015	79,029
2,016	78,018
2,017	220,433
2,018	397,793
2,019	481,519
Thereafter	433,101
Total	$ 1,689,893
Capital | A330-200 aircraft
Commitments and Contingent Liabilities
Number of firm aircraft orders | aircraft_firm_order	1
Number of aircraft purchase rights | aircraft_purchase_right	0
Capital | A330-800neo aircraft
Commitments and Contingent Liabilities
Number of firm aircraft orders | aircraft_firm_order	6
Number of aircraft purchase rights | aircraft_purchase_right	6
Capital | A330-800neo aircraft | Rolls-Royce spare engines
Commitments and Contingent Liabilities
Firm orders, number of spare engines | spare_engine_ordered	2
Capital | A321neo aircraft
Commitments and Contingent Liabilities
Number of firm aircraft orders | aircraft_firm_order	16
Number of aircraft purchase rights | aircraft_purchase_right	9
Capital | A321neo aircraft | Pratt & Whitney spare engines
Commitments and Contingent Liabilities
Firm orders, number of spare engines | spare_engine_ordered	2
Capital | ATR Turboprop
Commitments and Contingent Liabilities
Number of firm aircraft orders | aircraft_firm_order	3
Number of aircraft purchase rights | aircraft_purchase_right	0
Operating
Total Committed Expenditures
Remaining months in 2015	$ 35,166
2,016	58,719
2,017	58,637
2,018	51,942
2,019	47,362
Thereafter	264,181
Total	$ 516,007

Commitments and Contingent Li50

Commitments and Contingent Liabilities - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2015
Credit Card Processing Agreements
Commitments
Restricted cash	$ 5	$ 5	$ 5
Maximum limit of holdback (as a percent)	100.00%		100.00%
A330-200 aircraft
Commitments
Total committed lease financing		$ 48
Sale Leaseback, Length of Time		12 years	12 years
Term of Lease	6 years
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months	$ 2.2		$ 2.2
Minimum Lease Payments, Sale Leaseback Transactions, within Two Years	8.4		8.4
Minimum Lease Payments, Sale Leaseback Transactions, within Three Years	8.4		8.4
Minimum Lease Payments, Sale Leaseback Transactions, within Four Years	8.4		8.4
Minimum Lease Payments, Sale Leaseback Transactions, within Five Years	8.4		8.4
Minimum Lease Payments, Sale Leaseback Transactions, Thereafter	65.4		65.4
Other Commitment, Fiscal Year Maturity [Abstract]
Contractual Obligation, Due in Second Year	5.1		5.1
Other Commitment, Due in Third Year	8.9		8.9
Other Commitment, Due in Fourth Year	8.9		8.9
Other Commitment, Due in Fifth Year	8.9		8.9
Other Commitment, Due after Fifth Year	$ 21.5		$ 21.5

Supplemental Cash Flow Inform51

Supplemental Cash Flow Information Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental Cash Flow Information [Abstract]
Property and equipment acquired through a capital lease	$ 2,791	$ 0

Condensed Consolidating Finan52

Condensed Consolidating Financial Information - Narrative and Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)pass_through_trust	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)pass_through_trust	Jun. 30, 2014USD ($)
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	$ 571,295	$ 575,720	$ 1,111,575	$ 1,100,578
Operating Expenses:
Aircraft fuel, including taxes and delivery	112,519	174,139	223,846	345,278
Wages and benefits	123,977	112,478	243,991	219,972
Aircraft rent	28,817	26,095	57,188	52,374
Maintenance materials and repairs	57,071	58,399	112,316	116,709
Aircraft and passenger servicing	29,348	30,860	57,664	61,081
Commissions and other selling	30,484	30,773	60,912	62,108
Depreciation and amortization	27,537	23,765	52,716	46,576
Other rentals and landing fees	23,248	21,656	46,079	42,218
Other	46,878	45,961	94,283	92,631
Total	479,879	524,126	948,995	1,038,947
Operating Income	91,416	51,594	162,580	61,631
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,718)	(15,997)	(29,236)	(31,007)
Interest income	725	398	1,361	617
Capitalized interest	975	1,974	2,268	4,750
Gains (losses) on fuel derivatives	2,026	6,285	(3,661)	(614)
Loss on extinguishment of debt	(287)	0	(7,242)	0
Other, net	(1,876)	725	(4,810)	1,310
Total	(12,155)	(6,615)	(41,320)	(24,944)
Income Before Income Taxes	79,261	44,979	121,260	36,687
Income tax expense	30,427	17,652	46,543	14,435
Net Income	48,834	27,327	74,717	22,252
Comprehensive Income (Loss)	48,934	24,151	75,977	13,825
Parent Issuer / Guarantor
Operating Expenses:
Commissions and other selling	0		4	0
Other	1,252	1,507	3,237	2,769
Total	1,252	1,507	3,241	2,769
Operating Income	(1,252)	(1,507)	(3,241)	(2,769)
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	49,759	29,694	82,322	26,887
Interest expense and amortization of debt discounts and issuance costs	(156)	(2,210)	(1,592)	(4,390)
Interest income	53	40	109	79
Loss on extinguishment of debt	(287)		(7,242)
Total	49,369	27,524	73,597	22,576
Income Before Income Taxes	48,117	26,017	70,356	19,807
Income tax expense	(717)	(1,310)	(4,361)	(2,445)
Net Income	48,834	27,327	74,717	22,252
Comprehensive Income (Loss)	$ 48,934	24,151	$ 75,977	13,825
Subsidiary Issuer / Guarantor
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Number of pass-through trusts | pass_through_trust	2		2
Noncontrolling Interest, Ownership Percentage by Parent	100.00%		100.00%
Operating Revenue	$ 570,254	574,779	$ 1,109,461	1,099,106
Operating Expenses:
Aircraft fuel, including taxes and delivery	112,519	174,139	223,846	345,278
Wages and benefits	123,977	112,478	243,991	219,972
Aircraft rent	28,817	26,095	57,188	52,374
Maintenance materials and repairs	56,555	58,172	111,468	116,470
Aircraft and passenger servicing	29,348	30,860	57,664	61,081
Commissions and other selling	30,505	30,778	60,946	62,125
Depreciation and amortization	26,790	23,130	51,222	45,842
Other rentals and landing fees	23,248	21,656	46,079	42,218
Other	45,422	44,302	90,743	89,438
Total	477,181	521,610	943,147	1,034,798
Operating Income	93,073	53,169	166,314	64,308
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,562)	(13,787)	(27,644)	(26,617)
Interest income	672	358	1,252	538
Capitalized interest	975	1,974	2,268	4,750
Gains (losses) on fuel derivatives	2,026	6,285	(3,661)	(614)
Other, net	(1,876)	725	(4,810)	1,310
Total	(11,765)	(4,445)	(32,595)	(20,633)
Income Before Income Taxes	81,308	48,724	133,719	43,675
Income tax expense	31,144	18,962	50,904	16,880
Net Income	50,164	29,762	82,815	26,795
Comprehensive Income (Loss)	50,264	26,586	84,075	18,368
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	1,168	1,025	2,341	1,656
Operating Expenses:
Maintenance materials and repairs	516	227	848	239
Commissions and other selling	19	19	31	32
Depreciation and amortization	747	635	1,494	734
Other	291	212	461	559
Total	1,573	1,093	2,834	1,564
Operating Income	(405)	(68)	(493)	92
Nonoperating Income (Expense):
Income Before Income Taxes	(405)	(68)	(493)	92
Net Income	(405)	(68)	(493)	92
Comprehensive Income (Loss)	(405)	(68)	(493)	92
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	(127)	(84)	(227)	(184)
Operating Expenses:
Commissions and other selling	(40)	(24)	(69)	(49)
Other	(87)	(60)	(158)	(135)
Total	(127)	(84)	(227)	(184)
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	(49,759)	(29,694)	(82,322)	(26,887)
Total	(49,759)	(29,694)	(82,322)	(26,887)
Income Before Income Taxes	(49,759)	(29,694)	(82,322)	(26,887)
Net Income	(49,759)	(29,694)	(82,322)	(26,887)
Comprehensive Income (Loss)	$ (49,859)	$ (26,518)	$ (83,582)	$ (18,460)

Condensed Consolidating Finan53

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 344,782	$ 264,087	$ 360,281	$ 423,384
Restricted cash	5,000	6,566
Short-term investments	261,281	260,121
Accounts receivable, net	83,871	80,737
Spare parts and supplies, net	20,399	18,011
Deferred tax assets, net	22,657	21,943
Prepaid expenses and other	48,051	53,382
Total	786,041	704,847
Property and equipment at cost	2,000,925	2,041,000
Less accumulated depreciation and amortization	(392,992)	(367,507)
Property and equipment, net	1,607,933	1,673,493
Long-term prepayments and other	95,299	96,225
Goodwill and other intangible assets, net	126,643	127,963
Total Assets	2,615,916	2,602,528
Current liabilities:
Accounts payable	103,618	97,260
Air traffic liability	544,947	424,336
Other accrued liabilities	122,629	141,919
Current maturities of long-term debt, less discount, and capital lease obligations	98,394	156,349
Total	869,588	819,864
Long-term debt and capital lease obligations	848,217	893,288
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	406,804	407,864
Other liabilities and deferred credits	81,372	72,650
Deferred tax liabilities, net	81,241	41,629
Total	569,417	522,143
Shareholders’ equity	328,694	367,233
Total Liabilities and Shareholders’ Equity	2,615,916	2,602,528
Parent Issuer / Guarantor
Current assets:
Cash and cash equivalents	36,823	79,532	45,764	84,797
Accounts receivable, net	63	63
Prepaid expenses and other	79	12
Total	36,965	79,607
Long-term prepayments and other	21	537
Deferred tax assets, net	24,917	20,556
Intercompany receivable	0	0
Investment in consolidated subsidiaries	462,589	351,391
Total Assets	524,492	452,091
Current liabilities:
Accounts payable	345	514
Other accrued liabilities	351	1,686
Current maturities of long-term debt, less discount, and capital lease obligations	4,173	66,530
Total	4,869	68,730
Intercompany payable	189,654	15,081
Other liabilities and deferred credits:
Other liabilities and deferred credits	1,275	1,047
Total	1,275	1,047
Shareholders’ equity	328,694	367,233
Total Liabilities and Shareholders’ Equity	524,492	452,091
Subsidiary Issuer / Guarantor
Current assets:
Cash and cash equivalents	284,567	179,676	310,762	333,663
Restricted cash	5,000	6,566
Short-term investments	261,281	260,121
Accounts receivable, net	83,793	80,289
Spare parts and supplies, net	20,399	18,011
Deferred tax assets, net	22,657	21,943
Prepaid expenses and other	47,929	53,281
Total	725,626	619,887
Property and equipment at cost	1,958,973	2,006,274
Less accumulated depreciation and amortization	(389,297)	(365,279)
Property and equipment, net	1,569,676	1,640,995
Long-term prepayments and other	95,278	95,688
Goodwill and other intangible assets, net	126,643	127,963
Intercompany receivable	189,654	15,081
Total Assets	2,706,877	2,499,614
Current liabilities:
Accounts payable	102,874	96,196
Air traffic liability	542,658	421,547
Other accrued liabilities	122,133	140,088
Current maturities of long-term debt, less discount, and capital lease obligations	94,221	89,819
Total	861,886	747,650
Long-term debt and capital lease obligations	848,217	893,288
Intercompany payable	0	0
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	406,804	407,864
Other liabilities and deferred credits	79,347	70,853
Deferred tax liabilities, net	106,158	62,185
Total	592,309	540,902
Shareholders’ equity	404,465	317,774
Total Liabilities and Shareholders’ Equity	2,706,877	2,499,614
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	23,392	4,879	$ 3,755	$ 4,924
Accounts receivable, net	224	531
Prepaid expenses and other	43	89
Total	23,659	5,499
Property and equipment at cost	41,952	34,726
Less accumulated depreciation and amortization	(3,695)	(2,228)
Property and equipment, net	38,257	32,498
Total Assets	61,916	37,997
Current liabilities:
Accounts payable	608	696
Air traffic liability	2,289	2,789
Other accrued liabilities	145	145
Total	3,042	3,630
Other liabilities and deferred credits:
Other liabilities and deferred credits	750	750
Deferred tax liabilities, net		0
Total	750	750
Shareholders’ equity	58,124	33,617
Total Liabilities and Shareholders’ Equity	61,916	37,997
Eliminations
Current assets:
Accounts receivable, net	(209)	(146)
Total	(209)	(146)
Deferred tax assets, net	(24,917)	(20,556)
Intercompany receivable	(189,654)	(15,081)
Investment in consolidated subsidiaries	(462,589)	(351,391)
Total Assets	(677,369)	(387,174)
Current liabilities:
Accounts payable	(209)	(146)
Total	(209)	(146)
Intercompany payable	(189,654)	(15,081)
Other liabilities and deferred credits:
Deferred tax liabilities, net	(24,917)	(20,556)
Total	(24,917)	(20,556)
Shareholders’ equity	(462,589)	(351,391)
Total Liabilities and Shareholders’ Equity	$ (677,369)	$ (387,174)

Condensed Consolidating Finan54

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	$ 297,520	$ 203,969
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(72,902)	(331,766)
Proceeds from purchase assignment and leaseback transactions	86,033	0
Proceeds from disposition of property and equipment	3,513	350
Purchases of investments	(115,218)	(234,143)
Sales of investments	112,886	30,859
Net cash provided by (used in) investing activities	14,312	(534,700)
Cash Flows From Financing Activities:
Long-term borrowings	0	293,430
Repayments of long-term debt and capital lease obligations	(43,460)	(30,756)
Repurchases of convertible notes	(168,407)	0
Repurchases of common stock	(17,621)	0
Other	(1,649)	4,954
Net cash provided by (used in) financing activities	(231,137)	267,628
Net increase (decrease) in cash and cash equivalents	80,695	(63,103)
Cash and cash equivalents - Beginning of Period	264,087	423,384
Cash and cash equivalents - End of Period	344,782	360,281
Parent Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	(2,349)	(4,537)
Cash Flows From Investing Activities:
Net payments to affiliates	(25,000)
Net payments to subsidiaries		(38,829)
Net cash provided by (used in) investing activities	(25,000)	(38,829)
Cash Flows From Financing Activities:
Repayments of long-term debt and capital lease obligations	0
Repurchases of convertible notes	(168,407)
Net payments from affiliates	170,209
Repurchases of common stock	(17,621)
Other	459	4,333
Net cash provided by (used in) financing activities	(15,360)	4,333
Net increase (decrease) in cash and cash equivalents	(42,709)	(39,033)
Cash and cash equivalents - Beginning of Period	79,532	84,797
Cash and cash equivalents - End of Period	36,823	45,764
Subsidiary Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	299,009	207,836
Cash Flows From Investing Activities:
Net payments to affiliates	(170,209)
Additions to property and equipment, including pre-delivery deposits	(65,500)	(329,927)
Proceeds from purchase assignment and leaseback transactions	86,033
Proceeds from disposition of property and equipment	3,458	350
Purchases of investments	(115,218)	(234,143)
Sales of investments	112,886	30,859
Net cash provided by (used in) investing activities	(148,550)	(532,861)
Cash Flows From Financing Activities:
Long-term borrowings		293,430
Repayments of long-term debt and capital lease obligations	(43,460)	(30,756)
Net payments from parent company		38,829
Other	(2,108)	621
Net cash provided by (used in) financing activities	(45,568)	302,124
Net increase (decrease) in cash and cash equivalents	104,891	(22,901)
Cash and cash equivalents - Beginning of Period	179,676	333,663
Cash and cash equivalents - End of Period	284,567	310,762
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	860	670
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(7,402)	(1,839)
Proceeds from disposition of property and equipment	55	0
Net cash provided by (used in) investing activities	(7,347)	(1,839)
Cash Flows From Financing Activities:
Net payments from affiliates	25,000
Net cash provided by (used in) financing activities	25,000
Net increase (decrease) in cash and cash equivalents	18,513	(1,169)
Cash and cash equivalents - Beginning of Period	4,879	4,924
Cash and cash equivalents - End of Period	23,392	3,755
Eliminations
Cash Flows From Investing Activities:
Net payments to affiliates	195,209
Net payments to subsidiaries		38,829
Net cash provided by (used in) investing activities	195,209	38,829
Cash Flows From Financing Activities:
Net payments from affiliates	(195,209)
Net payments from parent company		(38,829)
Net cash provided by (used in) financing activities	$ (195,209)	$ (38,829)