Exhibit 12
Hawaiian Holdings, Inc.
Computation of Ratio of Earnings to Fixed Charges
| Six Months Ended June 30, | Years Ended December 31, | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| (in thousands, except ratio of earnings to fixed charges) | ||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 121,260 | $ | 113,447 | $ | 86,410 | $ | 85,786 | $ | (1,082 | ) | $ | 81,989 | |||||||||||
| Total fixed charges (see below) | 55,021 | 112,443 | 96,459 | 88,836 | 71,536 | 68,034 | ||||||||||||||||||
| Interest capitalized | (2,268 | ) | (8,024 | ) | (12,625 | ) | (10,524 | ) | (7,771 | ) | (2,665 | ) | ||||||||||||
| Earnings as adjusted | $ | 174,013 | $ | 217,866 | $ | 170,244 | $ | 164,098 | $ | 62,683 | $ | 147,358 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest and amortization of debt discount and issuance cost | $ | 29,236 | $ | 64,240 | $ | 50,453 | $ | 43,522 | $ | 24,521 | $ | 16,835 | ||||||||||||
| Portion of rental expense representative of the interest factor | 25,785 | 48,203 | 46,006 | 45,314 | 47,015 | 51,199 | ||||||||||||||||||
| Total fixed charges | $ | 55,021 | $ | 112,443 | $ | 96,459 | $ | 88,836 | $ | 71,536 | $ | 68,034 | ||||||||||||
| Ratio of earnings to fixed charges (a) | 3.16 | 1.94 | 1.76 | 1.85 | — | 2.17 | ||||||||||||||||||
| Coverage deficiency | $ | — | $ | — | $ | — | $ | — | $ | 8,853 | $ | — | ||||||||||||
| (a) | For purposes of calculating this ratio, earnings consist of income (loss) before income taxes plus fixed charges, net of capitalized interest. Fixed charges consist of interest expense, the amount amortized for debt discount and issuance cost, and the portion of rental expense representative of interest. |