Hawaiian Holdings has revealed that demand from Japan has been flat.
This was disclosed in the financial results for the first quarter of 2024 (January-March 2024), where it was analyzed that the soaring weekend accommodation rates in Hawaii are influencing this trend. Meanwhile, demand from the United States is compensating for the demand from Japan, and it is predicted that the demand from the United States will remain strong as long as the current exchange rate environment continues.
President Peter Ingram commented, “Regarding Japan, the second quarter will be a bit more challenging. The phase where Japanese travelers are not keen on traveling abroad has been significantly surpassed. The yen has depreciated greatly against the dollar, making it more expensive for Japanese travelers,” and expressed hope that “the wildcard for recovery is Japan.”
The financial results for the first quarter of 2024 showed operating revenue of $645.56 million, an adjusted EBITDA loss of $116 million, and a net loss of $137.56 million.
