Hawaiian (HA) 10-Q 21 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 16, 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	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		53,214,218

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Revenue:
Passenger	$ 556,929	$ 566,985	$ 1,525,461	$ 1,541,795
Other	74,809	72,477	217,852	198,245
Total	631,738	639,462	1,743,313	1,740,040
Operating Expenses:
Aircraft fuel, including taxes and delivery	105,483	182,219	329,329	527,497
Wages and benefits	125,884	114,469	369,875	334,441
Aircraft rent	29,544	26,724	86,732	79,098
Maintenance, materials and repairs	56,196	51,293	168,512	168,002
Aircraft and passenger servicing	30,284	31,848	87,948	92,929
Commissions and other selling	30,305	32,015	91,217	94,123
Depreciation and amortization	26,061	24,384	78,777	70,960
Other rentals and landing fees	24,728	23,637	70,807	65,855
Other	48,576	46,704	142,859	139,335
Total	477,061	533,293	1,426,056	1,572,240
Operating Income	154,677	106,169	317,257	167,800
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,506)	(17,104)	(42,742)	(48,111)
Interest income	691	471	2,052	1,088
Capitalized interest	698	1,834	2,966	6,584
Losses on fuel derivatives	(25,009)	(27,892)	(28,670)	(28,506)
Loss on extinguishment of debt	(54)	0	(7,296)	0
Other, net	(4,515)	(5,114)	(9,325)	(3,804)
Total	(41,695)	(47,805)	(83,015)	(72,749)
Income Before Income Taxes	112,982	58,364	234,242	95,051
Income tax expense	42,953	22,789	89,496	37,224
Net Income	$ 70,029	$ 35,575	$ 144,746	$ 57,827
Net Income Per Share
Basic (in dollars per share)	$ 1.30	$ 0.66	$ 2.67	$ 1.08
Diluted (in dollars per share)	$ 1.15	$ 0.56	$ 2.32	$ 0.94

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$ 70,029	$ 35,575	$ 144,746	$ 57,827
Other comprehensive income (loss), net:
Net change related to employee benefit plans, net of tax	1,894	44	5,251	389
Net change in derivative instruments, net of tax	(2,681)	7,081	(4,958)	(1,726)
Net change in available-for-sale investments, net of tax	59	(90)	239	(55)
Total other comprehensive income (loss)	(728)	7,035	532	(1,392)
Total Comprehensive Income	$ 69,301	$ 42,610	$ 145,278	$ 56,435

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net change related to employee benefit plans, tax expense	$ 1,117	$ 3	$ 3,163	$ 213
Net change in derivative instruments, tax (benefit) expense	(1,628)	4,308	(3,014)	(1,045)
Net change in available-for-sale investments, tax (benefit) expense	$ 35	$ (54)	$ 145	$ (33)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 345,174	$ 264,087
Restricted cash	5,000	6,566
Short-term investments	265,437	260,121
Accounts receivable, net	80,682	80,737
Spare parts and supplies, net	20,359	18,011
Deferred tax assets, net	22,102	21,943
Prepaid expenses and other	53,013	53,382
Total	791,767	704,847
Property and equipment, less accumulated depreciation and amortization of $415,194 and $367,507 as of September 30, 2015 and December 31, 2014, respectively	1,617,933	1,673,493
Other Assets:
Long-term prepayments and other	90,108	96,225
Intangible assets, less accumulated amortization of $36,414 and $34,434 as of September 30, 2015 and December 31, 2014, respectively	19,320	21,300
Goodwill	106,663	106,663
Total Assets	2,625,791	2,602,528
Current Liabilities:
Accounts payable	101,863	97,260
Air traffic liability	481,830	424,336
Other accrued liabilities	139,827	141,919
Current maturities of long-term debt, less discount, and capital lease obligations	95,805	156,349
Total	819,325	819,864
Long-Term Debt and Capital Lease Obligations	818,608	893,288
Other Liabilities and Deferred Credits:
Accumulated pension and other postretirement benefit obligations	409,047	407,864
Other liabilities and deferred credits	84,285	72,650
Deferred tax liability, net	117,376	41,629
Total	$ 610,708	$ 522,143
Commitments and Contingencies
Shareholders’ Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of September 30, 2015 and December 31, 2014	$ 0	$ 0
Common stock, $0.01 par value per share, 53,317,662 and 54,455,568 shares outstanding as of September 30, 2015 and December 31, 2014, respectively	533	545
Capital in excess of par value	116,083	251,432
Accumulated income	382,814	238,068
Accumulated other comprehensive loss, net	(122,280)	(122,812)
Total	377,150	367,233
Total Liabilities and Shareholders’ Equity	$ 2,625,791	$ 2,602,528

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 415,194	$ 367,507
Intangible assets, accumulated amortization (in dollars)	$ 36,414	$ 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	53,317,662	54,455,568

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Net cash provided by Operating Activities	$ 389,472	$ 252,163
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(105,329)	(361,290)
Proceeds from purchase assignment and leaseback transactions	86,033	0
Proceeds from disposition of equipment	3,606	978
Purchases of investments	(178,177)	(346,010)
Sales of investments	170,904	92,103
Net cash used in investing activities	(22,963)	(614,219)
Cash flows from Financing Activities:
Long-term borrowings	0	293,430
Repayments of long-term debt and capital lease obligations	(74,719)	(46,392)
Repurchases of convertible notes	(171,598)	0
Repurchases of common stock	(37,622)	0
Other	(1,483)	19,889
Net cash provided by (used in) financing activities	(285,422)	266,927
Net increase (decrease) in cash and cash equivalents	81,087	(95,129)
Cash and cash equivalents - Beginning of Period	264,087	423,384
Cash and cash equivalents - End of Period	$ 345,174	$ 328,255

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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. In July 2015, the FASB voted to defer the amendments in ASU 2014-09 by one year to December 15, 2017. The terms of ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after the revised effective date, 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	9 Months Ended
	Sep. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive 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 September 30, Nine months ended September 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 $ (5,003 ) $ (1,297 ) $ (13,415 ) $ (6,523 ) Passenger revenue Interest rate derivative losses, net 170 201 536 618 Interest expense Total before tax (4,833 ) (1,096 ) (12,879 ) (5,905 ) Tax expense 1,826 424 4,866 2,239 Total, net of tax $ (3,007 ) $ (672 ) $ (8,013 ) $ (3,666 ) Amortization of defined benefit pension items Actuarial loss (gains) $ 2,955 $ (64 ) $ 8,315 $ 388 Wages and benefits Prior service cost 57 113 171 111 Wages and benefits Total before tax 3,012 49 8,486 499 Tax benefit (1,118 ) (5 ) (3,194 ) (215 ) Total, net of tax $ 1,894 $ 44 $ 5,292 $ 284 Short-term investments Realized gain on sales of investments, net $ (1 ) $ (10 ) $ (36 ) $ (12 ) Other nonoperating income Total before tax (1 ) (10 ) (36 ) (12 ) Tax expense — 1 7 1 Total, net of tax $ (1 ) $ (9 ) $ (29 ) $ (11 ) Total reclassifications for the period $ (1,114 ) $ (637 ) $ (2,750 ) $ (3,393 ) A rollforward of the amounts included in accumulated other comprehensive loss, net of taxes, for the three and nine months ended September 30, 2015 and 2014 is as follows: Three months ended September 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Other comprehensive income (loss) before reclassifications, net of tax (641 ) 967 — 60 386 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 104 (3,111 ) 1,894 (1 ) (1,114 ) Net current-period other comprehensive income (loss) (537 ) (2,144 ) 1,894 59 (728 ) Ending balance $ (275 ) $ 8,279 $ (130,269 ) $ (15 ) $ (122,280 ) Three months ended September 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 ) Other comprehensive income (loss) before reclassifications, net of tax 39 7,714 — (81 ) 7,672 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 121 (793 ) 44 (9 ) (637 ) Net current-period other comprehensive income (loss) 160 6,921 44 (90 ) 7,035 Ending balance $ 631 $ 7,016 $ (51,670 ) $ (55 ) $ (44,078 ) Nine months ended September 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 (857 ) 3,912 (41 ) 268 3,282 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 328 (8,341 ) 5,292 (29 ) (2,750 ) Net current-period other comprehensive income (loss) (529 ) (4,429 ) 5,251 239 532 Ending balance $ (275 ) $ 8,279 $ (130,269 ) $ (15 ) $ (122,280 ) Nine months ended September 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 (844 ) 2,784 105 (44 ) 2,001 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 379 (4,045 ) 284 (11 ) (3,393 ) Net current-period other comprehensive income (loss) (465 ) (1,261 ) 389 (55 ) (1,392 ) Ending balance $ 631 $ 7,016 $ (51,670 ) $ (55 ) $ (44,078 )

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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. For the three and nine months ended September 30, 2015 and 2014 , anti-dilutive shares excluded from the calculation of diluted earnings per share were not material. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands, except for per share data) Numerator: Net Income $ 70,029 $ 35,575 $ 144,746 $ 57,827 Denominator: Weighted average common stock shares outstanding - Basic 53,731 53,878 54,266 53,359 Assumed exercise of stock options and awards 396 848 458 1,061 Assumed conversion of convertible note premium 350 4,965 1,618 4,498 Assumed conversion of warrants 6,351 3,359 6,139 2,767 Weighted average common stock shares outstanding - Diluted 60,828 63,050 62,481 61,685 Net Income Per Share Basic $ 1.30 $ 0.66 $ 2.67 $ 1.08 Diluted $ 1.15 $ 0.56 $ 2.32 $ 0.94 Convertible Note Transaction 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 September 30, 2015 , the Company’s 5% Convertible Notes due in 2016 ("Convertible Notes") had an outstanding principal balance of $3.3 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 nine months ended September 30, 2015 , the Company repurchased $1.0 million and $67.8 million in principal of the Convertible Notes, respectively. The 0.4 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 nine months ended September 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 nine months ended September 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. Stock Repurchase Program 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 $20.0 million and $37.7 million to repurchase approximately 0.9 million and 1.6 million shares of the Company's common stock in open market transactions during the three and nine months ended September 30, 2015 , respectively. As of September 30, 2015 , the Company has $62.3 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	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 (in thousands) Corporate debt $ 169,615 $ 84 $ (205 ) $ 169,494 U.S. government and agency debt 47,990 84 (2 ) 48,072 Municipal bonds 23,982 18 (1 ) 23,999 Other fixed income securities 23,875 — (3 ) 23,872 Total short-term investments $ 265,462 $ 186 $ (211 ) $ 265,437 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 September 30, 2015 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 72,807 $ 96,687 $ 169,494 U.S. government and agency debt 12,441 35,631 48,072 Municipal bonds 16,961 7,038 23,999 Other fixed income securities 22,371 1,501 23,872 Total short-term investments $ 124,580 $ 140,857 $ 265,437 The Company classifies investments as current assets as these securities are available for use in its current operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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 September 30, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 150,388 $ 133,602 $ 16,786 $ — Restricted cash 5,000 5,000 — — Short-term investments 265,437 — 265,437 — Fuel derivative contracts: 0 Heating oil put options 3,480 — 3,480 — Heating oil swaps 12 — 12 — Foreign currency derivatives 10,620 — 10,620 — Total assets measured at fair value $ 434,937 $ 138,602 $ 296,335 $ — Fuel derivative contracts: Heating oil swaps $ 27,165 $ — $ 27,165 $ — Foreign currency derivatives 368 — 368 — Interest rate derivatives 3,175 — 3,175 — Total liabilities measured at fair value $ 30,708 $ — $ 30,708 $ — 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 derivatives. The Company’s interest rate derivatives consists of interest rate swaps 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 September 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) $ 816,897 $ 815,578 $ — $ 3,224 $ 812,354 $ 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	9 Months Ended
	Sep. 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 nine months ended September 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 September 30, Nine months ended September 30, Fuel derivative contracts 2015 2014 2015 2014 (in thousands) Losses realized at settlement $ (13,777 ) $ (4,632 ) $ (44,921 ) $ (6,530 ) Reversal of prior period unrealized amounts 9,953 56 38,293 (1,816 ) Unrealized losses on contracts that will settle in future periods (21,185 ) (23,316 ) (22,042 ) (20,160 ) Losses on fuel derivatives recorded as Nonoperating income (expense) $ (25,009 ) $ (27,892 ) $ (28,670 ) $ (28,506 ) 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 (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 $12.0 million into earnings over the next 12 months from AOCI based on the values at September 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 September 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 $52,600 U.S. dollars April 2023 $ — $ (197 ) $ (197 ) Other liabilities and deferred credits (1) — (711 ) (711 ) Foreign currency derivatives Prepaid expenses and other 6,723,830 Japanese Yen September 2016 10,088 (196 ) 9,892 Long-term prepayments and other 3,728,050 Japanese Yen August 2017 509 (160 ) 349 Derivatives not designated as hedges 0 Interest rate derivative Other accrued liabilities $87,400 U.S. dollars November 2015 — (2,267 ) (2,267 ) Foreign currency derivatives Prepaid expenses and other 3,849,000 Japanese Yen August 2016 23 (12 ) 11 Fuel derivative contracts Other accrued liabilities 81,832 gallons September 2016 3,492 (27,165 ) (23,673 ) (1) Represents the noncurrent portion of the $52.6 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. (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended September 30, Three months ended September 30, Three months ended September 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (1,558 ) $ (12,428 ) $ (5,003 ) $ (1,297 ) $ — $ — Interest rate derivatives 840 (283 ) 170 201 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Nine months ended September 30, Nine months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (6,295 ) $ (4,720 ) $ (13,415 ) $ (6,523 ) $ — $ — Interest rate derivatives 778 668 536 618 — — 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 September 30, 2015 was $26.8 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 September 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	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt As of September 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 $ 16,186 2016 82,861 2017 82,092 2018 87,425 2019 99,070 Thereafter 449,317 $ 816,951 Convertible Notes During the three and nine months ended September 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 December 31, 2015. Therefore, the principal balance is classified accordingly in the table above. During the three and nine months ended September 30, 2015 , the Company repurchased $1.0 million and $67.8 million , respectively, in principal of its Convertible Notes for an aggregate repurchase price of $3.2 million and $171.6 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 $0.1 million and $7.3 million for the three and nine months ended September 30, 2015 , respectively, which is reflected in nonoperating income (expense) in the unaudited Consolidated Statement of Operations. Convertible Note Hedges and Warrants The convertible note hedges and warrants described in Note 8 of the Company's Form 10-K for the year ended December 31, 2014 were outstanding as of September 30, 2015. Under the terms of the convertible note hedges, the counterparties will deliver to the Company an amount equal to the excess of the Company's stock price on the settlement date and the exercise price of $7.88 per share multiplied by 10.9 million shares. The convertible note hedges are currently exercisable and expire in March 2016. Under the terms of the warrants, if the Company elects to deliver cash in lieu of shares, the Company will deliver to the counterparties an amount equal to the excess of the Company's stock price on the settlement date and the exercise price of $10.00 per share multiplied by 10.9 million shares. The convertible note hedge transaction and the warrant transactions may settle on different dates. The warrants expire at various dates beginning in June 2016.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 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 September 30, Nine months ended September 30, Components of Net Period Benefit Cost 2015 2014 2015 2014 (in thousands) Service cost $ 4,006 $ 3,162 $ 12,456 $ 9,066 Interest cost 7,454 6,839 22,232 20,811 Expected return on plan assets (4,702 ) (4,842 ) (14,134 ) (14,532 ) Recognized net actuarial loss 3,012 49 8,486 499 Net periodic benefit cost $ 9,770 $ 5,208 $ 29,040 $ 15,844 The Company contributed $ 3.2 million and $16.7 million to its defined benefit and other postretirement plans during the three and nine months ended September 30, 2015 , respectively, including $7.3 million above the minimum funding requirements. The Company contributed $2.3 million and $8.9 million to its defined benefit and other postretirement plans during the three and nine months ended September 30, 2014 , respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Commitments As of September 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 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 2025. 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 September 30, 2015 are detailed below: Capital Operating Total Committed Less: Committed Net Committed (in thousands) Remaining months in 2015 $ 54,051 $ 17,878 $ 71,929 $ 48,138 $ 23,791 2016 78,018 59,901 137,919 — 137,919 2017 220,806 58,637 279,443 — 279,443 2018 399,953 51,942 451,895 — 451,895 2019 488,553 47,362 535,915 — 535,915 Thereafter 442,888 264,181 707,069 — 707,069 $ 1,684,269 $ 499,901 $ 2,184,170 $ 48,138 $ 2,136,032 *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 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 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 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 September 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	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow, Supplemental Disclosures	Supplemental Cash Flow Information Non-cash investing and financing activities for the nine months ended September 30, 2015 and 2014 were as follows: Nine months ended September 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	9 Months Ended
	Sep. 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 12 as Subsidiary Issuer / Guarantor) of pass-through certificates, the Company (which is also referred to in this Note 12 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 September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 630,657 $ 1,162 $ (81 ) $ 631,738 Operating Expenses: Aircraft fuel, including taxes and delivery — 105,483 — — 105,483 Wages and benefits — 125,884 — — 125,884 Aircraft rent — 29,544 — — 29,544 Maintenance materials and repairs — 56,021 175 — 56,196 Aircraft and passenger servicing — 30,284 — — 30,284 Commissions and other selling 1 30,314 15 (25 ) 30,305 Depreciation and amortization — 25,307 754 — 26,061 Other rentals and landing fees — 24,728 — — 24,728 Other 1,510 46,874 248 (56 ) 48,576 Total 1,511 474,439 1,192 (81 ) 477,061 Operating Income (Loss) (1,511 ) 156,218 (30 ) — 154,677 Nonoperating Income (Expense): Undistributed net income of subsidiaries 71,067 — — (71,067 ) — Interest expense and amortization of debt discounts and issuance costs (100 ) (13,406 ) — — (13,506 ) Interest income 53 638 — — 691 Capitalized interest — 698 — — 698 Losses on fuel derivatives — (25,009 ) — — (25,009 ) Loss on extinguishment of debt (54 ) — — — (54 ) Other, net — (4,515 ) — — (4,515 ) Total 70,966 (41,594 ) — (71,067 ) (41,695 ) Income (Loss) Before Income Taxes 69,455 114,624 (30 ) (71,067 ) 112,982 Income tax expense (benefit) (574 ) 43,527 — — 42,953 Net Income (Loss) $ 70,029 $ 71,097 $ (30 ) $ (71,067 ) $ 70,029 Comprehensive Income (Loss) $ 69,301 $ 70,369 $ (30 ) $ (70,339 ) $ 69,301 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended September 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 638,414 $ 1,145 $ (97 ) $ 639,462 Operating Expenses: Aircraft fuel, including taxes and delivery — 182,219 — — 182,219 Wages and benefits — 114,469 — — 114,469 Aircraft rent — 26,724 — — 26,724 Maintenance materials and repairs — 51,029 264 — 51,293 Aircraft and passenger servicing — 31,848 — — 31,848 Commissions and other selling — 32,024 11 (20 ) 32,015 Depreciation and amortization — 23,654 730 — 24,384 Other rentals and landing fees 5 23,632 — — 23,637 Other 1,246 45,291 244 (77 ) 46,704 Total 1,251 530,890 1,249 (97 ) 533,293 Operating Income (Loss) (1,251 ) 107,524 (104 ) — 106,169 Nonoperating Income (Expense): Undistributed net income of subsidiaries 37,900 — — (37,900 ) — Interest expense and amortization of debt discounts and issuance costs (2,260 ) (14,844 ) — — (17,104 ) Interest income 47 424 — — 471 Capitalized interest — 1,834 — — 1,834 Losses on fuel derivatives — (27,892 ) — — (27,892 ) Other, net — (5,114 ) — — (5,114 ) Total 35,687 (45,592 ) — (37,900 ) (47,805 ) Income (Loss) Before Income Taxes 34,436 61,932 (104 ) (37,900 ) 58,364 Income tax expense (benefit) (1,139 ) 23,928 — — 22,789 Net Income (Loss) $ 35,575 $ 38,004 $ (104 ) $ (37,900 ) $ 35,575 Comprehensive Income (Loss) $ 42,610 $ 45,039 $ (104 ) $ (44,935 ) $ 42,610 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Nine months ended September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,740,118 $ 3,503 $ (308 ) $ 1,743,313 Operating Expenses: Aircraft fuel, including taxes and delivery — 329,329 — — 329,329 Wages and benefits — 369,875 — — 369,875 Aircraft rent — 86,732 — — 86,732 Maintenance materials and repairs — 167,489 1,023 — 168,512 Aircraft and passenger servicing — 87,948 — — 87,948 Commissions and other selling 5 91,260 46 (94 ) 91,217 Depreciation and amortization — 76,529 2,248 — 78,777 Other rentals and landing fees — 70,807 — — 70,807 Other 4,747 137,617 709 (214 ) 142,859 Total 4,752 1,417,586 4,026 (308 ) 1,426,056 Operating Income (Loss) (4,752 ) 322,532 (523 ) — 317,257 Nonoperating Income (Expense): Undistributed net income of subsidiaries 153,389 — — (153,389 ) — Interest expense and amortization of debt discounts and issuance costs (1,692 ) (41,050 ) — — (42,742 ) Interest income 162 1,890 — — 2,052 Capitalized interest — 2,966 — — 2,966 Losses on fuel derivatives — (28,670 ) — — (28,670 ) Loss on extinguishment of debt (7,296 ) — — — (7,296 ) Other, net — (9,325 ) — — (9,325 ) Total 144,563 (74,189 ) — (153,389 ) (83,015 ) Income (Loss) Before Income Taxes 139,811 248,343 (523 ) (153,389 ) 234,242 Income tax expense (benefit) (4,935 ) 94,431 — — 89,496 Net Income (Loss) $ 144,746 $ 153,912 $ (523 ) $ (153,389 ) $ 144,746 Comprehensive Income (Loss) $ 145,278 $ 154,444 $ (523 ) $ (153,921 ) $ 145,278 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Nine months ended September 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,737,520 $ 2,801 $ (281 ) $ 1,740,040 Operating Expenses: Aircraft fuel, including taxes and delivery — 527,497 — — 527,497 Wages and benefits — 334,441 — — 334,441 Aircraft rent — 79,098 — — 79,098 Maintenance materials and repairs — 167,499 503 — 168,002 Aircraft and passenger servicing — 92,929 — — 92,929 Commissions and other selling — 94,149 43 (69 ) 94,123 Depreciation and amortization — 69,496 1,464 — 70,960 Other rentals and landing fees 5 65,850 — — 65,855 Other 4,015 134,729 803 (212 ) 139,335 Total 4,020 1,565,688 2,813 (281 ) 1,572,240 Operating Income (Loss) (4,020 ) 171,832 (12 ) — 167,800 Nonoperating Income (Expense): Undistributed net income of subsidiaries 64,787 — — (64,787 ) — Interest expense and amortization of debt discounts and issuance costs (6,650 ) (41,461 ) — — (48,111 ) Interest income 126 962 — — 1,088 Capitalized interest — 6,584 — — 6,584 Losses on fuel derivatives — (28,506 ) — — (28,506 ) Other, net — (3,804 ) — — (3,804 ) Total 58,263 (66,225 ) — (64,787 ) (72,749 ) Income (Loss) Before Income Taxes 54,243 105,607 (12 ) (64,787 ) 95,051 Income tax expense (benefit) (3,584 ) 40,808 — — 37,224 Net Income (Loss) $ 57,827 $ 64,799 $ (12 ) $ (64,787 ) $ 57,827 Comprehensive Income (Loss) $ 56,435 $ 63,407 $ (12 ) $ (63,395 ) $ 56,435 Condensed Consolidating Balance Sheets September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 65,949 $ 271,376 $ 7,849 $ — $ 345,174 Restricted cash — 5,000 — — 5,000 Short-term investments — 265,437 — — 265,437 Accounts receivable, net 63 80,487 289 (157 ) 80,682 Spare parts and supplies, net — 20,359 — — 20,359 Deferred tax assets, net — 22,102 — — 22,102 Prepaid expenses and other 50 52,852 111 — 53,013 Total 66,062 717,613 8,249 (157 ) 791,767 Property and equipment at cost — 1,974,943 58,184 — 2,033,127 Less accumulated depreciation and amortization — (410,746 ) (4,448 ) — (415,194 ) Property and equipment, net — 1,564,197 53,736 — 1,617,933 Long-term prepayments and other 11 90,097 — — 90,108 Deferred tax assets, net 25,490 — — (25,490 ) — Goodwill and other intangible assets, net — 125,983 — — 125,983 Intercompany receivable — 242,726 — (242,726 ) — Investment in consolidated subsidiaries 533,839 — — (533,839 ) — TOTAL ASSETS $ 625,402 $ 2,740,616 $ 61,985 $ (802,212 ) $ 2,625,791 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 557 $ 101,024 $ 439 $ (157 ) $ 101,863 Air traffic liability — 479,398 2,432 — 481,830 Other accrued liabilities 343 139,214 270 — 139,827 Current maturities of long-term debt, less discount, and capital lease obligations 3,234 92,571 — — 95,805 Total 4,134 812,207 3,141 (157 ) 819,325 Long-term debt and capital lease obligations — 818,608 — — 818,608 Intercompany payable 242,726 — — (242,726 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 409,047 — — 409,047 Other liabilities and deferred credits 1,392 82,143 750 — 84,285 Deferred tax liabilities, net — 142,866 — (25,490 ) 117,376 Total 1,392 634,056 750 (25,490 ) 610,708 Shareholders’ equity 377,150 475,745 58,094 (533,839 ) 377,150 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 625,402 $ 2,740,616 $ 61,985 $ (802,212 ) $ 2,625,791 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 Nine months ended September 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (3,461 ) $ 391,577 $ 1,356 $ — $ 389,472 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (223,411 ) — 248,411 — Additions to property and equipment, including pre-delivery deposits — (81,888 ) (23,441 ) — (105,329 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Proceeds from disposition of property and equipment — 3,551 55 — 3,606 Purchases of investments — (178,177 ) — — (178,177 ) Sales of investments — 170,904 — — 170,904 Net cash used in investing activities (25,000 ) (222,988 ) (23,386 ) 248,411 (22,963 ) Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (74,719 ) — — (74,719 ) Repurchases of convertible notes (171,598 ) — — — (171,598 ) Net payments from affiliates 223,411 — 25,000 (248,411 ) — Repurchases of common stock (37,622 ) — — — (37,622 ) Other 687 (2,170 ) — — (1,483 ) Net cash provided by (used in) financing activities 14,878 (76,889 ) 25,000 (248,411 ) (285,422 ) Net increase (decrease) in cash and cash equivalents (13,583 ) 91,700 2,970 — 81,087 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 65,949 $ 271,376 $ 7,849 $ — $ 345,174 Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2014 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (6,859 ) $ 257,694 $ 1,328 $ — $ 252,163 Cash Flows From Investing Activities: Net payments to subsidiaries (34,443 ) — — 34,443 — Additions to property and equipment, including pre-delivery deposits — (358,538 ) (2,752 ) — (361,290 ) Proceeds from disposition of property and equipment — 978 — — 978 Purchases of investments — (346,010 ) — — (346,010 ) Sales of investments — 92,103 — — 92,103 Net cash used in investing activities (34,443 ) (611,467 ) (2,752 ) 34,443 (614,219 ) Cash Flows From Financing Activities: Long-term borrowings — 293,430 — — 293,430 Repayments of long-term debt and capital lease obligations — (46,392 ) — — (46,392 ) Net payments from parent company — 34,443 — (34,443 ) — Other 5,487 14,402 — — 19,889 Net cash provided by financing activities 5,487 295,883 — (34,443 ) 266,927 Net decrease in cash and cash equivalents (35,815 ) (57,890 ) (1,424 ) — (95,129 ) Cash and cash equivalents - Beginning of Period 84,797 333,663 4,924 — 423,384 Cash and cash equivalents - End of Period $ 48,982 $ 275,773 $ 3,500 $ — $ 328,255 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 Polici20

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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. In July 2015, the FASB voted to defer the amendments in ASU 2014-09 by one year to December 15, 2017. The terms of ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after the revised effective date, 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 Comprehensi21

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 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 September 30, Nine months ended September 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 $ (5,003 ) $ (1,297 ) $ (13,415 ) $ (6,523 ) Passenger revenue Interest rate derivative losses, net 170 201 536 618 Interest expense Total before tax (4,833 ) (1,096 ) (12,879 ) (5,905 ) Tax expense 1,826 424 4,866 2,239 Total, net of tax $ (3,007 ) $ (672 ) $ (8,013 ) $ (3,666 ) Amortization of defined benefit pension items Actuarial loss (gains) $ 2,955 $ (64 ) $ 8,315 $ 388 Wages and benefits Prior service cost 57 113 171 111 Wages and benefits Total before tax 3,012 49 8,486 499 Tax benefit (1,118 ) (5 ) (3,194 ) (215 ) Total, net of tax $ 1,894 $ 44 $ 5,292 $ 284 Short-term investments Realized gain on sales of investments, net $ (1 ) $ (10 ) $ (36 ) $ (12 ) Other nonoperating income Total before tax (1 ) (10 ) (36 ) (12 ) Tax expense — 1 7 1 Total, net of tax $ (1 ) $ (9 ) $ (29 ) $ (11 ) Total reclassifications for the period $ (1,114 ) $ (637 ) $ (2,750 ) $ (3,393 )
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 nine months ended September 30, 2015 and 2014 is as follows: Three months ended September 30, 2015 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Other comprehensive income (loss) before reclassifications, net of tax (641 ) 967 — 60 386 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 104 (3,111 ) 1,894 (1 ) (1,114 ) Net current-period other comprehensive income (loss) (537 ) (2,144 ) 1,894 59 (728 ) Ending balance $ (275 ) $ 8,279 $ (130,269 ) $ (15 ) $ (122,280 ) Three months ended September 30, 2014 Interest Foreign Defined Short-Term Investments Total (in thousands) Beginning balance $ 471 $ 95 $ (51,714 ) $ 35 $ (51,113 ) Other comprehensive income (loss) before reclassifications, net of tax 39 7,714 — (81 ) 7,672 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 121 (793 ) 44 (9 ) (637 ) Net current-period other comprehensive income (loss) 160 6,921 44 (90 ) 7,035 Ending balance $ 631 $ 7,016 $ (51,670 ) $ (55 ) $ (44,078 ) Nine months ended September 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 (857 ) 3,912 (41 ) 268 3,282 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 328 (8,341 ) 5,292 (29 ) (2,750 ) Net current-period other comprehensive income (loss) (529 ) (4,429 ) 5,251 239 532 Ending balance $ (275 ) $ 8,279 $ (130,269 ) $ (15 ) $ (122,280 ) Nine months ended September 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 (844 ) 2,784 105 (44 ) 2,001 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 379 (4,045 ) 284 (11 ) (3,393 ) Net current-period other comprehensive income (loss) (465 ) (1,261 ) 389 (55 ) (1,392 ) Ending balance $ 631 $ 7,016 $ (51,670 ) $ (55 ) $ (44,078 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of earnings per share basic and diluted	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands, except for per share data) Numerator: Net Income $ 70,029 $ 35,575 $ 144,746 $ 57,827 Denominator: Weighted average common stock shares outstanding - Basic 53,731 53,878 54,266 53,359 Assumed exercise of stock options and awards 396 848 458 1,061 Assumed conversion of convertible note premium 350 4,965 1,618 4,498 Assumed conversion of warrants 6,351 3,359 6,139 2,767 Weighted average common stock shares outstanding - Diluted 60,828 63,050 62,481 61,685 Net Income Per Share Basic $ 1.30 $ 0.66 $ 2.67 $ 1.08 Diluted $ 1.15 $ 0.56 $ 2.32 $ 0.94

Short-Term Investments (Tables)

Short-Term Investments (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 (in thousands) Corporate debt $ 169,615 $ 84 $ (205 ) $ 169,494 U.S. government and agency debt 47,990 84 (2 ) 48,072 Municipal bonds 23,982 18 (1 ) 23,999 Other fixed income securities 23,875 — (3 ) 23,872 Total short-term investments $ 265,462 $ 186 $ (211 ) $ 265,437 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 September 30, 2015 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 72,807 $ 96,687 $ 169,494 U.S. government and agency debt 12,441 35,631 48,072 Municipal bonds 16,961 7,038 23,999 Other fixed income securities 22,371 1,501 23,872 Total short-term investments $ 124,580 $ 140,857 $ 265,437

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 150,388 $ 133,602 $ 16,786 $ — Restricted cash 5,000 5,000 — — Short-term investments 265,437 — 265,437 — Fuel derivative contracts: 0 Heating oil put options 3,480 — 3,480 — Heating oil swaps 12 — 12 — Foreign currency derivatives 10,620 — 10,620 — Total assets measured at fair value $ 434,937 $ 138,602 $ 296,335 $ — Fuel derivative contracts: Heating oil swaps $ 27,165 $ — $ 27,165 $ — Foreign currency derivatives 368 — 368 — Interest rate derivatives 3,175 — 3,175 — Total liabilities measured at fair value $ 30,708 $ — $ 30,708 $ — 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 September 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) $ 816,897 $ 815,578 $ — $ 3,224 $ 812,354 $ 947,897 $ 956,811 $ — $ 69,766 $ 887,045

Financial Derivative Instrume25

Financial Derivative Instruments (Tables)	9 Months Ended
	Sep. 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 September 30, Nine months ended September 30, Fuel derivative contracts 2015 2014 2015 2014 (in thousands) Losses realized at settlement $ (13,777 ) $ (4,632 ) $ (44,921 ) $ (6,530 ) Reversal of prior period unrealized amounts 9,953 56 38,293 (1,816 ) Unrealized losses on contracts that will settle in future periods (21,185 ) (23,316 ) (22,042 ) (20,160 ) Losses on fuel derivatives recorded as Nonoperating income (expense) $ (25,009 ) $ (27,892 ) $ (28,670 ) $ (28,506 )
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 September 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 $52,600 U.S. dollars April 2023 $ — $ (197 ) $ (197 ) Other liabilities and deferred credits (1) — (711 ) (711 ) Foreign currency derivatives Prepaid expenses and other 6,723,830 Japanese Yen September 2016 10,088 (196 ) 9,892 Long-term prepayments and other 3,728,050 Japanese Yen August 2017 509 (160 ) 349 Derivatives not designated as hedges 0 Interest rate derivative Other accrued liabilities $87,400 U.S. dollars November 2015 — (2,267 ) (2,267 ) Foreign currency derivatives Prepaid expenses and other 3,849,000 Japanese Yen August 2016 23 (12 ) 11 Fuel derivative contracts Other accrued liabilities 81,832 gallons September 2016 3,492 (27,165 ) (23,673 ) (1) Represents the noncurrent portion of the $52.6 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. (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended September 30, Three months ended September 30, Three months ended September 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (1,558 ) $ (12,428 ) $ (5,003 ) $ (1,297 ) $ — $ — Interest rate derivatives 840 (283 ) 170 201 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Nine months ended September 30, Nine months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 2015 2014 (in thousands) Foreign currency derivatives $ (6,295 ) $ (4,720 ) $ (13,415 ) $ (6,523 ) $ — $ — Interest rate derivatives 778 668 536 618 — —

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of expected maturities of long-term debt	As of September 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 $ 16,186 2016 82,861 2017 82,092 2018 87,425 2019 99,070 Thereafter 449,317 $ 816,951

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 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 September 30, Nine months ended September 30, Components of Net Period Benefit Cost 2015 2014 2015 2014 (in thousands) Service cost $ 4,006 $ 3,162 $ 12,456 $ 9,066 Interest cost 7,454 6,839 22,232 20,811 Expected return on plan assets (4,702 ) (4,842 ) (14,134 ) (14,532 ) Recognized net actuarial loss 3,012 49 8,486 499 Net periodic benefit cost $ 9,770 $ 5,208 $ 29,040 $ 15,844

Commitments and Contingent Li28

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of firm aircraft and engine orders	As of September 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 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 September 30, 2015 are detailed below: Capital Operating Total Committed Less: Committed Net Committed (in thousands) Remaining months in 2015 $ 54,051 $ 17,878 $ 71,929 $ 48,138 $ 23,791 2016 78,018 59,901 137,919 — 137,919 2017 220,806 58,637 279,443 — 279,443 2018 399,953 51,942 451,895 — 451,895 2019 488,553 47,362 535,915 — 535,915 Thereafter 442,888 264,181 707,069 — 707,069 $ 1,684,269 $ 499,901 $ 2,184,170 $ 48,138 $ 2,136,032 *See below for a detailed discussion of the committed financings Hawaiian has received for its upcoming capital commitments for aircraft deliveries.

Supplemental Cash Flow Inform29

Supplemental Cash Flow Information Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Non-cash investing and financing activities for the nine months ended September 30, 2015 and 2014 were as follows: Nine months ended September 30, 2015 2014 (in thousands) Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through a capital lease $ 2,791 $ —

Condensed Consolidating Finan30

Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 630,657 $ 1,162 $ (81 ) $ 631,738 Operating Expenses: Aircraft fuel, including taxes and delivery — 105,483 — — 105,483 Wages and benefits — 125,884 — — 125,884 Aircraft rent — 29,544 — — 29,544 Maintenance materials and repairs — 56,021 175 — 56,196 Aircraft and passenger servicing — 30,284 — — 30,284 Commissions and other selling 1 30,314 15 (25 ) 30,305 Depreciation and amortization — 25,307 754 — 26,061 Other rentals and landing fees — 24,728 — — 24,728 Other 1,510 46,874 248 (56 ) 48,576 Total 1,511 474,439 1,192 (81 ) 477,061 Operating Income (Loss) (1,511 ) 156,218 (30 ) — 154,677 Nonoperating Income (Expense): Undistributed net income of subsidiaries 71,067 — — (71,067 ) — Interest expense and amortization of debt discounts and issuance costs (100 ) (13,406 ) — — (13,506 ) Interest income 53 638 — — 691 Capitalized interest — 698 — — 698 Losses on fuel derivatives — (25,009 ) — — (25,009 ) Loss on extinguishment of debt (54 ) — — — (54 ) Other, net — (4,515 ) — — (4,515 ) Total 70,966 (41,594 ) — (71,067 ) (41,695 ) Income (Loss) Before Income Taxes 69,455 114,624 (30 ) (71,067 ) 112,982 Income tax expense (benefit) (574 ) 43,527 — — 42,953 Net Income (Loss) $ 70,029 $ 71,097 $ (30 ) $ (71,067 ) $ 70,029 Comprehensive Income (Loss) $ 69,301 $ 70,369 $ (30 ) $ (70,339 ) $ 69,301 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended September 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 638,414 $ 1,145 $ (97 ) $ 639,462 Operating Expenses: Aircraft fuel, including taxes and delivery — 182,219 — — 182,219 Wages and benefits — 114,469 — — 114,469 Aircraft rent — 26,724 — — 26,724 Maintenance materials and repairs — 51,029 264 — 51,293 Aircraft and passenger servicing — 31,848 — — 31,848 Commissions and other selling — 32,024 11 (20 ) 32,015 Depreciation and amortization — 23,654 730 — 24,384 Other rentals and landing fees 5 23,632 — — 23,637 Other 1,246 45,291 244 (77 ) 46,704 Total 1,251 530,890 1,249 (97 ) 533,293 Operating Income (Loss) (1,251 ) 107,524 (104 ) — 106,169 Nonoperating Income (Expense): Undistributed net income of subsidiaries 37,900 — — (37,900 ) — Interest expense and amortization of debt discounts and issuance costs (2,260 ) (14,844 ) — — (17,104 ) Interest income 47 424 — — 471 Capitalized interest — 1,834 — — 1,834 Losses on fuel derivatives — (27,892 ) — — (27,892 ) Other, net — (5,114 ) — — (5,114 ) Total 35,687 (45,592 ) — (37,900 ) (47,805 ) Income (Loss) Before Income Taxes 34,436 61,932 (104 ) (37,900 ) 58,364 Income tax expense (benefit) (1,139 ) 23,928 — — 22,789 Net Income (Loss) $ 35,575 $ 38,004 $ (104 ) $ (37,900 ) $ 35,575 Comprehensive Income (Loss) $ 42,610 $ 45,039 $ (104 ) $ (44,935 ) $ 42,610 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Nine months ended September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,740,118 $ 3,503 $ (308 ) $ 1,743,313 Operating Expenses: Aircraft fuel, including taxes and delivery — 329,329 — — 329,329 Wages and benefits — 369,875 — — 369,875 Aircraft rent — 86,732 — — 86,732 Maintenance materials and repairs — 167,489 1,023 — 168,512 Aircraft and passenger servicing — 87,948 — — 87,948 Commissions and other selling 5 91,260 46 (94 ) 91,217 Depreciation and amortization — 76,529 2,248 — 78,777 Other rentals and landing fees — 70,807 — — 70,807 Other 4,747 137,617 709 (214 ) 142,859 Total 4,752 1,417,586 4,026 (308 ) 1,426,056 Operating Income (Loss) (4,752 ) 322,532 (523 ) — 317,257 Nonoperating Income (Expense): Undistributed net income of subsidiaries 153,389 — — (153,389 ) — Interest expense and amortization of debt discounts and issuance costs (1,692 ) (41,050 ) — — (42,742 ) Interest income 162 1,890 — — 2,052 Capitalized interest — 2,966 — — 2,966 Losses on fuel derivatives — (28,670 ) — — (28,670 ) Loss on extinguishment of debt (7,296 ) — — — (7,296 ) Other, net — (9,325 ) — — (9,325 ) Total 144,563 (74,189 ) — (153,389 ) (83,015 ) Income (Loss) Before Income Taxes 139,811 248,343 (523 ) (153,389 ) 234,242 Income tax expense (benefit) (4,935 ) 94,431 — — 89,496 Net Income (Loss) $ 144,746 $ 153,912 $ (523 ) $ (153,389 ) $ 144,746 Comprehensive Income (Loss) $ 145,278 $ 154,444 $ (523 ) $ (153,921 ) $ 145,278 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Nine months ended September 30, 2014 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,737,520 $ 2,801 $ (281 ) $ 1,740,040 Operating Expenses: Aircraft fuel, including taxes and delivery — 527,497 — — 527,497 Wages and benefits — 334,441 — — 334,441 Aircraft rent — 79,098 — — 79,098 Maintenance materials and repairs — 167,499 503 — 168,002 Aircraft and passenger servicing — 92,929 — — 92,929 Commissions and other selling — 94,149 43 (69 ) 94,123 Depreciation and amortization — 69,496 1,464 — 70,960 Other rentals and landing fees 5 65,850 — — 65,855 Other 4,015 134,729 803 (212 ) 139,335 Total 4,020 1,565,688 2,813 (281 ) 1,572,240 Operating Income (Loss) (4,020 ) 171,832 (12 ) — 167,800 Nonoperating Income (Expense): Undistributed net income of subsidiaries 64,787 — — (64,787 ) — Interest expense and amortization of debt discounts and issuance costs (6,650 ) (41,461 ) — — (48,111 ) Interest income 126 962 — — 1,088 Capitalized interest — 6,584 — — 6,584 Losses on fuel derivatives — (28,506 ) — — (28,506 ) Other, net — (3,804 ) — — (3,804 ) Total 58,263 (66,225 ) — (64,787 ) (72,749 ) Income (Loss) Before Income Taxes 54,243 105,607 (12 ) (64,787 ) 95,051 Income tax expense (benefit) (3,584 ) 40,808 — — 37,224 Net Income (Loss) $ 57,827 $ 64,799 $ (12 ) $ (64,787 ) $ 57,827 Comprehensive Income (Loss) $ 56,435 $ 63,407 $ (12 ) $ (63,395 ) $ 56,435
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets September 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 65,949 $ 271,376 $ 7,849 $ — $ 345,174 Restricted cash — 5,000 — — 5,000 Short-term investments — 265,437 — — 265,437 Accounts receivable, net 63 80,487 289 (157 ) 80,682 Spare parts and supplies, net — 20,359 — — 20,359 Deferred tax assets, net — 22,102 — — 22,102 Prepaid expenses and other 50 52,852 111 — 53,013 Total 66,062 717,613 8,249 (157 ) 791,767 Property and equipment at cost — 1,974,943 58,184 — 2,033,127 Less accumulated depreciation and amortization — (410,746 ) (4,448 ) — (415,194 ) Property and equipment, net — 1,564,197 53,736 — 1,617,933 Long-term prepayments and other 11 90,097 — — 90,108 Deferred tax assets, net 25,490 — — (25,490 ) — Goodwill and other intangible assets, net — 125,983 — — 125,983 Intercompany receivable — 242,726 — (242,726 ) — Investment in consolidated subsidiaries 533,839 — — (533,839 ) — TOTAL ASSETS $ 625,402 $ 2,740,616 $ 61,985 $ (802,212 ) $ 2,625,791 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 557 $ 101,024 $ 439 $ (157 ) $ 101,863 Air traffic liability — 479,398 2,432 — 481,830 Other accrued liabilities 343 139,214 270 — 139,827 Current maturities of long-term debt, less discount, and capital lease obligations 3,234 92,571 — — 95,805 Total 4,134 812,207 3,141 (157 ) 819,325 Long-term debt and capital lease obligations — 818,608 — — 818,608 Intercompany payable 242,726 — — (242,726 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 409,047 — — 409,047 Other liabilities and deferred credits 1,392 82,143 750 — 84,285 Deferred tax liabilities, net — 142,866 — (25,490 ) 117,376 Total 1,392 634,056 750 (25,490 ) 610,708 Shareholders’ equity 377,150 475,745 58,094 (533,839 ) 377,150 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 625,402 $ 2,740,616 $ 61,985 $ (802,212 ) $ 2,625,791 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 Nine months ended September 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (3,461 ) $ 391,577 $ 1,356 $ — $ 389,472 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (223,411 ) — 248,411 — Additions to property and equipment, including pre-delivery deposits — (81,888 ) (23,441 ) — (105,329 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Proceeds from disposition of property and equipment — 3,551 55 — 3,606 Purchases of investments — (178,177 ) — — (178,177 ) Sales of investments — 170,904 — — 170,904 Net cash used in investing activities (25,000 ) (222,988 ) (23,386 ) 248,411 (22,963 ) Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (74,719 ) — — (74,719 ) Repurchases of convertible notes (171,598 ) — — — (171,598 ) Net payments from affiliates 223,411 — 25,000 (248,411 ) — Repurchases of common stock (37,622 ) — — — (37,622 ) Other 687 (2,170 ) — — (1,483 ) Net cash provided by (used in) financing activities 14,878 (76,889 ) 25,000 (248,411 ) (285,422 ) Net increase (decrease) in cash and cash equivalents (13,583 ) 91,700 2,970 — 81,087 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 65,949 $ 271,376 $ 7,849 $ — $ 345,174 Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2014 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (6,859 ) $ 257,694 $ 1,328 $ — $ 252,163 Cash Flows From Investing Activities: Net payments to subsidiaries (34,443 ) — — 34,443 — Additions to property and equipment, including pre-delivery deposits — (358,538 ) (2,752 ) — (361,290 ) Proceeds from disposition of property and equipment — 978 — — 978 Purchases of investments — (346,010 ) — — (346,010 ) Sales of investments — 92,103 — — 92,103 Net cash used in investing activities (34,443 ) (611,467 ) (2,752 ) 34,443 (614,219 ) Cash Flows From Financing Activities: Long-term borrowings — 293,430 — — 293,430 Repayments of long-term debt and capital lease obligations — (46,392 ) — — (46,392 ) Net payments from parent company — 34,443 — (34,443 ) — Other 5,487 14,402 — — 19,889 Net cash provided by financing activities 5,487 295,883 — (34,443 ) 266,927 Net decrease in cash and cash equivalents (35,815 ) (57,890 ) (1,424 ) — (95,129 ) Cash and cash equivalents - Beginning of Period 84,797 333,663 4,924 — 423,384 Cash and cash equivalents - End of Period $ 48,982 $ 275,773 $ 3,500 $ — $ 328,255

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Amounts reclassified from AOCI
Foreign currency derivative gains, net	$ (556,929)	$ (566,985)	$ (1,525,461)	$ (1,541,795)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1,114)	(637)	(2,750)	(3,393)
Income Before Income Taxes	(112,982)	(58,364)	(234,242)	(95,051)
Tax expense (benefit)	42,953	22,789	89,496	37,224
Net Income	(70,029)	(35,575)	(144,746)	(57,827)
Gains on derivatives designated as hedging instruments | Foreign currency derivatives gains
Amounts reclassified from AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(3,111)	(793)	(8,341)	(4,045)
Gains on derivatives designated as hedging instruments | Interest rate derivatives loss
Amounts reclassified from AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	104	121	328	379
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Income Before Income Taxes	(4,833)	(1,096)	(12,879)	(5,905)
Tax expense (benefit)	1,826	424	4,866	2,239
Net Income	(3,007)	(672)	(8,013)	(3,666)
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	(5,003)	(1,297)	(13,415)	(6,523)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss | Interest rate derivatives loss
Amounts reclassified from AOCI
Interest Income (Expense), Nonoperating, Net	170	201	536	618
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Amounts reclassified from AOCI
Actuarial loss (gains)	2,955	(64)	8,315	388
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Amounts reclassified from AOCI
Actuarial loss (gains)	57	113	171	111
Defined benefit pension
Amounts reclassified from AOCI
Actuarial loss (gains)	3,012	49	8,486	499
Reclassification from AOCI, Current Period, Tax	(1,118)	(5)	(3,194)	(215)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,894	44	5,292	284
Short-Term Investments
Amounts reclassified from AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1)	(9)	(29)	(11)
Short-Term Investments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Gain (Loss) on Investments, Excluding Other than Temporary Impairments	(1)	(10)	(36)	(12)
Income Before Income Taxes	(1)	(10)	(36)	(12)
Tax expense (benefit)	0	1	7	1
Net Income	$ (1)	$ (9)	$ (29)	$ (11)

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss - Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	$ (121,552)	$ (51,113)	$ (122,812)	$ (42,686)
Other comprehensive income (loss) before reclassifications, net of tax	386	7,672	3,282	2,001
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(1,114)	(637)	(2,750)	(3,393)
Total other comprehensive income (loss)	(728)	7,035	532	(1,392)
Ending balance	(122,280)	(44,078)	(122,280)	(44,078)
Gains (losses) on derivatives designated as hedging instruments | Interest Rate Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	262	471	254	1,096
Other comprehensive income (loss) before reclassifications, net of tax	(641)	39	(857)	(844)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	104	121	328	379
Total other comprehensive income (loss)	(537)	160	(529)	(465)
Ending balance	(275)	631	(275)	631
Gains (losses) on derivatives designated as hedging instruments | Foreign Currency Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	10,423	95	12,708	8,277
Other comprehensive income (loss) before reclassifications, net of tax	967	7,714	3,912	2,784
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(3,111)	(793)	(8,341)	(4,045)
Total other comprehensive income (loss)	(2,144)	6,921	(4,429)	(1,261)
Ending balance	8,279	7,016	8,279	7,016
Defined Benefit Pension Items
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(132,163)	(51,714)	(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	1,894	44	5,292	284
Total other comprehensive income (loss)	1,894	44	5,251	389
Ending balance	(130,269)	(51,670)	(130,269)	(51,670)
Short-Term Investments
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(74)	35	(254)	0
Other comprehensive income (loss) before reclassifications, net of tax	60	(81)	268	(44)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(1)	(9)	(29)	(11)
Total other comprehensive income (loss)	59	(90)	239	(55)
Ending balance	$ (15)	$ (55)	$ (15)	$ (55)

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net Income	$ 70,029	$ 35,575	$ 144,746	$ 57,827
Denominator:
Weighted average common stock shares outstanding - Basic	53,731	53,878	54,266	53,359
Assumed exercise of stock options and awards	396	848	458	1,061
Assumed conversion of convertible note premium	350	4,965	1,618	4,498
Assumed conversion of warrants	6,351	3,359	6,139	2,767
Weighted average common stock shares outstanding - Diluted	60,828	63,050	62,481	61,685
Net Income Per Share
Basic (in dollars per share)	$ 1.30	$ 0.66	$ 2.67	$ 1.08
Diluted (in dollars per share)	$ 1.15	$ 0.56	$ 2.32	$ 0.94

Earnings Per Share -Convertible

Earnings Per Share -Convertible Note Transaction (Details) $ / shares in Units, equity_instrument in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2015USD ($)equity_instrument$ / shares	Mar. 31, 2011
5% convertible notes, due in 2016
Debt Instrument [Line Items]
Stated interest rate (as a percent)			5.00%
Principal amount | $	$ 3.3	$ 3.3
Repurchase of convertible notes, principal amount | $	$ 1	$ 67.8
Number of shares in which the convertible note can be converted | equity_instrument		0.4
Conversion price (in dollars per share)	$ 7.88	$ 7.88
Warrant [Member]
Debt Instrument [Line Items]
Convertible Note Hedge strike price (per share)	$ 10	$ 10

Earnings Per Share -Share Repur

Earnings Per Share -Share Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 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	$ 62.3	$ 62.3
Common Stock
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Value	$ 20	$ 37.7
Stock Repurchased During Period, Shares	900,000	1,600,000

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Short-Term Investments
Amortized Cost	$ 265,462	$ 260,529
Gross Unrealized Gains	186	47
Gross Unrealized Losses	(211)	(455)
Fair Value	265,437	260,121
Contractual maturities of short-term investments
Under 1 Year	124,580
1 to 5 Years	140,857
Total	265,437
Corporate debt
Short-Term Investments
Amortized Cost	169,615	180,794
Gross Unrealized Gains	84	43
Gross Unrealized Losses	(205)	(394)
Fair Value	169,494	180,443
Contractual maturities of short-term investments
Under 1 Year	72,807
1 to 5 Years	96,687
Total	169,494
U.S. government and agency debt
Short-Term Investments
Amortized Cost	47,990	38,268
Gross Unrealized Gains	84	0
Gross Unrealized Losses	(2)	(40)
Fair Value	48,072	38,228
Contractual maturities of short-term investments
Under 1 Year	12,441
1 to 5 Years	35,631
Total	48,072
Municipal bonds
Short-Term Investments
Amortized Cost	23,982	23,849
Gross Unrealized Gains	18	4
Gross Unrealized Losses	(1)	(16)
Fair Value	23,999	23,837
Contractual maturities of short-term investments
Under 1 Year	16,961
1 to 5 Years	7,038
Total	23,999
Other fixed income securities
Short-Term Investments
Amortized Cost	23,875	17,618
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3)	(5)
Fair Value	23,872	$ 17,613
Contractual maturities of short-term investments
Under 1 Year	22,371
1 to 5 Years	1,501
Total	$ 23,872

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities, Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets measured at fair value
Short-term investments	$ 265,437	$ 260,121
Recurring basis
Assets measured at fair value
Cash equivalents	150,388	55,072
Restricted cash	5,000	6,566
Short-term investments	265,437	260,121
Total assets measured at fair value	434,937	374,142
Liabilities measured at fair value
Total liabilities measured at fair value	30,708	72,076
Recurring basis | Fuel derivative contracts | Heating oil put options
Assets measured at fair value
Derivative contracts	3,480	32,637
Recurring basis | Fuel derivative contracts | Heating oil swaps
Assets measured at fair value
Derivative contracts	12
Liabilities measured at fair value
Derivative contracts	27,165	71,447
Recurring basis | Foreign Currency Derivatives
Assets measured at fair value
Derivative contracts	10,620	19,746
Liabilities measured at fair value
Derivative contracts	368
Recurring basis | Interest Rate Derivatives
Liabilities measured at fair value
Derivative contracts	3,175	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	133,602	35,913
Restricted cash	5,000	6,566
Total assets measured at fair value	138,602	42,479
Recurring basis | Level 2
Assets measured at fair value
Cash equivalents	16,786	19,159
Short-term investments	265,437	260,121
Total assets measured at fair value	296,335	331,663
Liabilities measured at fair value
Total liabilities measured at fair value	30,708	71,576
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil put options
Assets measured at fair value
Derivative contracts	3,480	32,637
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil swaps
Assets measured at fair value
Derivative contracts	12
Liabilities measured at fair value
Derivative contracts	27,165	71,447
Recurring basis | Level 2 | Foreign Currency Derivatives
Assets measured at fair value
Derivative contracts	10,620	19,746
Liabilities measured at fair value
Derivative contracts	368
Recurring basis | Level 2 | Interest Rate Derivatives
Liabilities measured at fair value
Derivative contracts	$ 3,175	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 - Sch38

Fair Value Measurements - Schedule of Certain Debt (Details) - Recurring basis - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements
Carrying value of debt	$ 816,897	$ 947,897
Fair value of debt	815,578	956,811
Level 2
Fair Value Measurements
Fair value of debt	3,224	69,766
Level 3
Fair Value Measurements
Fair value of debt	$ 812,354	$ 887,045

Financial Derivative Instrume39

Financial Derivative Instruments - Risk Management (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative instrument
Losses on fuel derivatives recorded as Nonoperating income (expense)	$ (25,009)	$ (27,892)	$ (28,670)	$ (28,506)
Derivatives Not Designated as Hedging Instruments | Fuel derivative contracts
Derivative instrument
Losses realized at settlement	(13,777)	(4,632)	(44,921)	(6,530)
Reversal of prior period unrealized amounts	9,953	56	38,293	(1,816)
Unrealized losses on contracts that will settle in future periods	(21,185)	(23,316)	(22,042)	(20,160)
Losses on fuel derivatives recorded as Nonoperating income (expense)	$ (25,009)	$ (27,892)	(28,670)	$ (28,506)
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			$ 12,000
Reclassification estimated time period			12 months

Financial Derivative Instrume40

Financial Derivative Instruments - Derivative Position (Details) ¥ in Thousands, gal in Thousands, AUD in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015JPY (¥)gal	Dec. 31, 2014JPY (¥)gal	Sep. 30, 2015AUD	Sep. 30, 2015USD ($)	Dec. 31, 2014AUD	Dec. 31, 2014USD ($)
Derivatives designated as hedging instruments | Interest Rate Derivatives
Fair Value of Derivatives
Notional Amount				$ 52,600		$ 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				(197)		(26)
Net derivative position				(197)		(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				(711)		(103)
Net derivative position				(711)		(103)
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount	¥ 6,723,830	¥ 6,909,050	AUD 38,257		AUD 51,380
Gross fair value of assets, current				10,088		13,921
Gross fair value of liabilities, current				(196)		0
Net derivative position				9,892		13,921
Derivatives designated as hedging instruments | Foreign Currency Derivatives | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount	3,728,050	3,758,500	7,349		13,080
Gross fair value of assets, noncurrent				509		4,565
Gross fair value of liabilities, noncurrent				(160)
Net derivative position				349		4,565
Derivatives not designated as hedging instruments | Interest Rate Derivatives
Fair Value of Derivatives
Notional Amount				87,400
Derivatives not designated as hedging instruments | Interest Rate Derivatives | Other Current Liabilities
Fair Value of Derivatives
Gross fair value of assets, current				0
Gross fair value of liabilities, current				(2,267)
Net derivative position				(2,267)
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount	3,849,000	7,714,291	9,443		43,546
Gross fair value of assets, current				23		1,191
Gross fair value of liabilities, current				(12)		0
Net derivative position				11		1,191
Derivatives not designated as hedging instruments | Foreign Currency Derivatives | Long-term prepayments and other
Fair Value of Derivatives
Notional Amount	¥ 0	¥ 2,762,000	AUD 0		AUD 3,500
Gross fair value of assets, noncurrent						69
Gross fair value of liabilities, noncurrent						0
Net derivative position						69
Derivatives not designated as hedging instruments | Fuel derivative contracts | Other Current Liabilities
Fair Value of Derivatives
Notional Amount (Volume) | gal	81,832	90,994
Gross fair value of assets, current				3,492		32,637
Gross fair value of liabilities, current				(27,165)		(71,447)
Net derivative position				$ (23,673)		(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 Instrume41

Financial Derivative Instruments - Impact of Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign Currency Derivatives
Gains (losses) for designated hedge contracts
(Gain) loss recognized in AOCI on derivatives (effective portion)	$ (1,558)	$ (12,428)	$ (6,295)	$ (4,720)
(Gain) loss reclassified from AOCI into income (effective portion)	(5,003)	(1,297)	(13,415)	(6,523)
(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)	840	(283)	778	668
(Gain) loss reclassified from AOCI into income (effective portion)	170	201	536	618
(Gain) loss recognized in nonoperating (income) expense (ineffective portion)	$ 0	$ 0	$ 0	$ 0

Financial Derivative Instrume42

Financial Derivative Instruments - Risk and Collateral (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net derivative position	$ 26,800,000
Collateral posted with counterparties	$ 0	$ 600,000

Debt - Schedule of Maturities (

Debt - Schedule of Maturities (Details) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
Remaining months in 2015	$ 16,186
2,016	82,861
2,017	82,092
2,018	87,425
2,019	99,070
Thereafter	449,317
Long-term Debt, Gross	$ 816,951

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Repayments of Convertible Debt			$ 171,598	$ 0
Loss on extinguishment of debt	$ (54)	$ 0	$ (7,296)	$ 0
Call Option [Member]
Debt Instrument [Line Items]
Convertible Note Hedge strike price (per share)	$ 7.88		$ 7.88
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	10.9		10.9
Warrant [Member]
Debt Instrument [Line Items]
Convertible Note Hedge strike price (per share)	$ 10		$ 10
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	10.9		10.9
5% convertible notes, due in 2016
Debt Instrument [Line Items]
Repurchase of convertible notes, principal amount	$ 1,000		$ 67,800
Repayments of Convertible Debt	$ 3,200		$ 171,600

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of Net Periodic Benefit Cost
Service cost	$ 4,006	$ 3,162	$ 12,456	$ 9,066
Interest cost	7,454	6,839	22,232	20,811
Expected return on plan assets	(4,702)	(4,842)	(14,134)	(14,532)
Recognized net actuarial loss	3,012	49	8,486	499
Net periodic benefit cost	9,770	5,208	29,040	15,844
Employer contribution	$ 3,200	$ 2,300	16,700	$ 8,900
Defined Benefit Plan, Discretionary Contributions by Employer			$ 7,300

Commitments and Contingent Li46

Commitments and Contingent Liabilities - Capital Commitments and Operating Expenditures (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)aircraft_purchase_rightaircraft_firm_orderspare_engine_ordered
Total Committed Expenditures
Remaining months in 2015	$ 71,929
2,016	137,919
2,017	279,443
2,018	451,895
2,019	535,915
Thereafter	707,069
Total	2,184,170
Less: Committed Financing for Upcoming Aircraft Deliveries
Remaining months in 2015	48,138
Total	48,138
Net Committed Expenditures
Remaining months in 2015	23,791
2,016	137,919
2,017	279,443
2,018	451,895
2,019	535,915
Thereafter	707,069
Total	2,136,032
Capital
Total Committed Expenditures
Remaining months in 2015	54,051
2,016	78,018
2,017	220,806
2,018	399,953
2,019	488,553
Thereafter	442,888
Total	$ 1,684,269
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
Operating
Total Committed Expenditures
Remaining months in 2015	$ 17,878
2,016	59,901
2,017	58,637
2,018	51,942
2,019	47,362
Thereafter	264,181
Total	$ 499,901

Commitments and Contingent Li47

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

Supplemental Cash Flow Inform48

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Supplemental Cash Flow Information [Abstract]
Property and equipment acquired through a capital lease	$ 2,791	$ 0

Condensed Consolidating Finan49

Condensed Consolidating Financial Information - Narrative and Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)pass_through_trust	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)pass_through_trust	Sep. 30, 2014USD ($)
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	$ 631,738	$ 639,462	$ 1,743,313	$ 1,740,040
Operating Expenses:
Aircraft fuel, including taxes and delivery	105,483	182,219	329,329	527,497
Wages and benefits	125,884	114,469	369,875	334,441
Aircraft rent	29,544	26,724	86,732	79,098
Maintenance, materials and repairs	56,196	51,293	168,512	168,002
Aircraft and passenger servicing	30,284	31,848	87,948	92,929
Commissions and other selling	30,305	32,015	91,217	94,123
Depreciation and amortization	26,061	24,384	78,777	70,960
Other rentals and landing fees	24,728	23,637	70,807	65,855
Other	48,576	46,704	142,859	139,335
Total	477,061	533,293	1,426,056	1,572,240
Operating Income	154,677	106,169	317,257	167,800
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,506)	(17,104)	(42,742)	(48,111)
Interest income	691	471	2,052	1,088
Capitalized interest	698	1,834	2,966	6,584
Losses on fuel derivatives	(25,009)	(27,892)	(28,670)	(28,506)
Loss on extinguishment of debt	(54)	0	(7,296)	0
Other, net	(4,515)	(5,114)	(9,325)	(3,804)
Total	(41,695)	(47,805)	(83,015)	(72,749)
Income Before Income Taxes	112,982	58,364	234,242	95,051
Income tax expense	42,953	22,789	89,496	37,224
Net Income	70,029	35,575	144,746	57,827
Comprehensive Income (Loss)	69,301	42,610	145,278	56,435
Parent Issuer / Guarantor
Operating Expenses:
Commissions and other selling	1	0	5	0
Other rentals and landing fees		5		5
Other	1,510	1,246	4,747	4,015
Total	1,511	1,251	4,752	4,020
Operating Income	(1,511)	(1,251)	(4,752)	(4,020)
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	71,067	37,900	153,389	64,787
Interest expense and amortization of debt discounts and issuance costs	(100)	(2,260)	(1,692)	(6,650)
Interest income	53	47	162	126
Loss on extinguishment of debt	(54)		(7,296)
Total	70,966	35,687	144,563	58,263
Income Before Income Taxes	69,455	34,436	139,811	54,243
Income tax expense	(574)	(1,139)	(4,935)	(3,584)
Net Income	70,029	35,575	144,746	57,827
Comprehensive Income (Loss)	$ 69,301	42,610	$ 145,278	56,435
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	$ 630,657	638,414	$ 1,740,118	1,737,520
Operating Expenses:
Aircraft fuel, including taxes and delivery	105,483	182,219	329,329	527,497
Wages and benefits	125,884	114,469	369,875	334,441
Aircraft rent	29,544	26,724	86,732	79,098
Maintenance, materials and repairs	56,021	51,029	167,489	167,499
Aircraft and passenger servicing	30,284	31,848	87,948	92,929
Commissions and other selling	30,314	32,024	91,260	94,149
Depreciation and amortization	25,307	23,654	76,529	69,496
Other rentals and landing fees	24,728	23,632	70,807	65,850
Other	46,874	45,291	137,617	134,729
Total	474,439	530,890	1,417,586	1,565,688
Operating Income	156,218	107,524	322,532	171,832
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(13,406)	(14,844)	(41,050)	(41,461)
Interest income	638	424	1,890	962
Capitalized interest	698	1,834	2,966	6,584
Losses on fuel derivatives	(25,009)	(27,892)	(28,670)	(28,506)
Other, net	(4,515)	(5,114)	(9,325)	(3,804)
Total	(41,594)	(45,592)	(74,189)	(66,225)
Income Before Income Taxes	114,624	61,932	248,343	105,607
Income tax expense	43,527	23,928	94,431	40,808
Net Income	71,097	38,004	153,912	64,799
Comprehensive Income (Loss)	70,369	45,039	154,444	63,407
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	1,162	1,145	3,503	2,801
Operating Expenses:
Maintenance, materials and repairs	175	264	1,023	503
Commissions and other selling	15	11	46	43
Depreciation and amortization	754	730	2,248	1,464
Other	248	244	709	803
Total	1,192	1,249	4,026	2,813
Operating Income	(30)	(104)	(523)	(12)
Nonoperating Income (Expense):
Income Before Income Taxes	(30)	(104)	(523)	(12)
Net Income	(30)	(104)	(523)	(12)
Comprehensive Income (Loss)	(30)	(104)	(523)	(12)
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	(81)	(97)	(308)	(281)
Operating Expenses:
Commissions and other selling	(25)	(20)	(94)	(69)
Other	(56)	(77)	(214)	(212)
Total	(81)	(97)	(308)	(281)
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	(71,067)	(37,900)	(153,389)	(64,787)
Total	(71,067)	(37,900)	(153,389)	(64,787)
Income Before Income Taxes	(71,067)	(37,900)	(153,389)	(64,787)
Net Income	(71,067)	(37,900)	(153,389)	(64,787)
Comprehensive Income (Loss)	$ (70,339)	$ (44,935)	$ (153,921)	$ (63,395)

Condensed Consolidating Finan50

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 345,174	$ 264,087	$ 328,255	$ 423,384
Restricted cash	5,000	6,566
Short-term investments	265,437	260,121
Accounts receivable, net	80,682	80,737
Spare parts and supplies, net	20,359	18,011
Deferred tax assets, net	22,102	21,943
Prepaid expenses and other	53,013	53,382
Total	791,767	704,847
Property and equipment at cost	2,033,127	2,041,000
Less accumulated depreciation and amortization	(415,194)	(367,507)
Property and equipment, net	1,617,933	1,673,493
Long-term prepayments and other	90,108	96,225
Goodwill and other intangible assets, net	125,983	127,963
Total Assets	2,625,791	2,602,528
Current liabilities:
Accounts payable	101,863	97,260
Air traffic liability	481,830	424,336
Other accrued liabilities	139,827	141,919
Current maturities of long-term debt, less discount, and capital lease obligations	95,805	156,349
Total	819,325	819,864
Long-term debt and capital lease obligations	818,608	893,288
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	409,047	407,864
Other liabilities and deferred credits	84,285	72,650
Deferred tax liabilities, net	117,376	41,629
Total	610,708	522,143
Shareholders’ equity	377,150	367,233
Total Liabilities and Shareholders’ Equity	2,625,791	2,602,528
Parent Issuer / Guarantor
Current assets:
Cash and cash equivalents	65,949	79,532	48,982	84,797
Accounts receivable, net	63	63
Prepaid expenses and other	50	12
Total	66,062	79,607
Long-term prepayments and other	11	537
Deferred tax assets, net	25,490	20,556
Investment in consolidated subsidiaries	533,839	351,391
Total Assets	625,402	452,091
Current liabilities:
Accounts payable	557	514
Other accrued liabilities	343	1,686
Current maturities of long-term debt, less discount, and capital lease obligations	3,234	66,530
Total	4,134	68,730
Intercompany payable	242,726	15,081
Other liabilities and deferred credits:
Other liabilities and deferred credits	1,392	1,047
Total	1,392	1,047
Shareholders’ equity	377,150	367,233
Total Liabilities and Shareholders’ Equity	625,402	452,091
Subsidiary Issuer / Guarantor
Current assets:
Cash and cash equivalents	271,376	179,676	275,773	333,663
Restricted cash	5,000	6,566
Short-term investments	265,437	260,121
Accounts receivable, net	80,487	80,289
Spare parts and supplies, net	20,359	18,011
Deferred tax assets, net	22,102	21,943
Prepaid expenses and other	52,852	53,281
Total	717,613	619,887
Property and equipment at cost	1,974,943	2,006,274
Less accumulated depreciation and amortization	(410,746)	(365,279)
Property and equipment, net	1,564,197	1,640,995
Long-term prepayments and other	90,097	95,688
Goodwill and other intangible assets, net	125,983	127,963
Intercompany receivable	242,726	15,081
Total Assets	2,740,616	2,499,614
Current liabilities:
Accounts payable	101,024	96,196
Air traffic liability	479,398	421,547
Other accrued liabilities	139,214	140,088
Current maturities of long-term debt, less discount, and capital lease obligations	92,571	89,819
Total	812,207	747,650
Long-term debt and capital lease obligations	818,608	893,288
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	409,047	407,864
Other liabilities and deferred credits	82,143	70,853
Deferred tax liabilities, net	142,866	62,185
Total	634,056	540,902
Shareholders’ equity	475,745	317,774
Total Liabilities and Shareholders’ Equity	2,740,616	2,499,614
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	7,849	4,879	$ 3,500	$ 4,924
Accounts receivable, net	289	531
Prepaid expenses and other	111	89
Total	8,249	5,499
Property and equipment at cost	58,184	34,726
Less accumulated depreciation and amortization	(4,448)	(2,228)
Property and equipment, net	53,736	32,498
Total Assets	61,985	37,997
Current liabilities:
Accounts payable	439	696
Air traffic liability	2,432	2,789
Other accrued liabilities	270	145
Total	3,141	3,630
Other liabilities and deferred credits:
Other liabilities and deferred credits	750	750
Total	750	750
Shareholders’ equity	58,094	33,617
Total Liabilities and Shareholders’ Equity	61,985	37,997
Eliminations
Current assets:
Accounts receivable, net	(157)	(146)
Total	(157)	(146)
Deferred tax assets, net	(25,490)	(20,556)
Intercompany receivable	(242,726)	(15,081)
Investment in consolidated subsidiaries	(533,839)	(351,391)
Total Assets	(802,212)	(387,174)
Current liabilities:
Accounts payable	(157)	(146)
Total	(157)	(146)
Intercompany payable	(242,726)	(15,081)
Other liabilities and deferred credits:
Deferred tax liabilities, net	(25,490)	(20,556)
Total	(25,490)	(20,556)
Shareholders’ equity	(533,839)	(351,391)
Total Liabilities and Shareholders’ Equity	$ (802,212)	$ (387,174)

Condensed Consolidating Finan51

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	$ 389,472	$ 252,163
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(105,329)	(361,290)
Proceeds from purchase assignment and leaseback transactions	86,033	0
Proceeds from disposition of property and equipment	3,606	978
Purchases of investments	(178,177)	(346,010)
Sales of investments	170,904	92,103
Net cash used in investing activities	(22,963)	(614,219)
Cash Flows From Financing Activities:
Long-term borrowings	0	293,430
Repayments of long-term debt and capital lease obligations	(74,719)	(46,392)
Repurchases of convertible notes	(171,598)	0
Repurchases of common stock	(37,622)	0
Other	(1,483)	19,889
Net cash provided by (used in) financing activities	(285,422)	266,927
Net increase (decrease) in cash and cash equivalents	81,087	(95,129)
Cash and cash equivalents - Beginning of Period	264,087	423,384
Cash and cash equivalents - End of Period	345,174	328,255
Parent Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	(3,461)	(6,859)
Cash Flows From Investing Activities:
Net payments to affiliates	(25,000)
Net payments to subsidiaries		(34,443)
Net cash used in investing activities	(25,000)	(34,443)
Cash Flows From Financing Activities:
Repurchases of convertible notes	(171,598)
Net payments from affiliates	223,411
Repurchases of common stock	(37,622)
Other	687	5,487
Net cash provided by (used in) financing activities	14,878	5,487
Net increase (decrease) in cash and cash equivalents	(13,583)	(35,815)
Cash and cash equivalents - Beginning of Period	79,532	84,797
Cash and cash equivalents - End of Period	65,949	48,982
Subsidiary Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	391,577	257,694
Cash Flows From Investing Activities:
Net payments to affiliates	(223,411)
Additions to property and equipment, including pre-delivery deposits	(81,888)	(358,538)
Proceeds from purchase assignment and leaseback transactions	86,033
Proceeds from disposition of property and equipment	3,551	978
Purchases of investments	(178,177)	(346,010)
Sales of investments	170,904	92,103
Net cash used in investing activities	(222,988)	(611,467)
Cash Flows From Financing Activities:
Long-term borrowings		293,430
Repayments of long-term debt and capital lease obligations	(74,719)	(46,392)
Net payments from parent company		34,443
Other	(2,170)	14,402
Net cash provided by (used in) financing activities	(76,889)	295,883
Net increase (decrease) in cash and cash equivalents	91,700	(57,890)
Cash and cash equivalents - Beginning of Period	179,676	333,663
Cash and cash equivalents - End of Period	271,376	275,773
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	1,356	1,328
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(23,441)	(2,752)
Proceeds from disposition of property and equipment	55	0
Net cash used in investing activities	(23,386)	(2,752)
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	2,970	(1,424)
Cash and cash equivalents - Beginning of Period	4,879	4,924
Cash and cash equivalents - End of Period	7,849	3,500
Eliminations
Cash Flows From Investing Activities:
Net payments to affiliates	248,411
Net payments to subsidiaries		34,443
Net cash used in investing activities	248,411	34,443
Cash Flows From Financing Activities:
Net payments from affiliates	(248,411)
Net payments from parent company		(34,443)
Net cash provided by (used in) financing activities	$ (248,411)	$ (34,443)