Tuesday, June 24, 2008

Airline Industry in Crisis

Mark Dunkerly provides information to House and Senate members, including Rep. Ryan Yamane (Chair, House Tourism and Culture) and Rep. Joey Manahan (Vice Chair, House Tourism and Culture), seated directly across.

That's how Mark Dunkerly, President and CEO of Hawaiian Airlines, described the current situation at today's joint House/Senate tourism informational briefing. The crisis is due to record high fuel costs, tight credit and intense competition. At current fuel prices, Hawaiian will spend $204 million more in 2008, which will force higher air fares. No surprise there.
Dunkerly summarized that Hawaiian is meeting the demand for current interisland travel and is investing for the future. The high cost of fuel and the economy are causing what he describes as tourism softness, but there is no lack of air seats.

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