8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 28, 2011

HAWAIIAN HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-31443	71-0879698
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3375 Koapaka Street, Suite G-350

Honolulu, HI  96819

 (Address of principal executive offices, including zip code)

(808) 835-3700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01   Regulation FD Disclosure.

An investor update presenting information relating to the Registrant’s estimated cost per available seat mile excluding fuel (CASM ex-fuel), passenger revenue per available seat mile (PRASM) and expected fuel expense for the second quarter of 2011 is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

All of the information furnished in this report (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and unless expressly set forth by specific reference in such filings, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings.

Item 9.01   Financial Statements and Exhibits.

(d) Exhibits.

99.1         Investor Update dated June 28, 2011.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		HAWAIIAN HOLDINGS, INC.
Date: June 28, 2011	By:	/s/ Peter R. Ingram
		Peter R. Ingram
		Executive Vice President, Chief Financial Officer and Treasurer

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EXHIBIT INDEX

99.1         Investor Update dated June 28, 2011.

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EX-99.1

Exhibit 99.1

Hawaiian Holdings, Inc.

Investor Update

Issue Date: June 28, 2011

Hawaiian Holdings, Inc. (the Company), parent of Hawaiian Airlines, Inc. (Hawaiian) issued the following Investor Update.

Second Quarter Outlook

The Company has reiterated its expectations with respect to certain financial and operational metrics relative to those shared during its First Quarter Earnings Release Conference call on April 26, 2011 (“Earnings Call”).  The table below summarizes the Company’s expectations for the quarter ending June 30, 2011, expressed as expected change compared to the results for the quarter ended June 30, 2010 (the results for which are presented for reference).

Item	Second Quarter 2010	Second Quarter 2011 Expected Year-over-Year Change
Cost Per ASM Excluding Fuel (cents)	8.66	Flat to up 3%
Passenger Revenue Per ASM (cents)	11.28	Up 3.0% to 6.0%
ASMs (millions)	2,462.8	Up 20.0% to 22.0%

Second Quarter Fuel Expense

For the quarter ending June 30, 2011, Hawaiian expects its average GAAP fuel cost per gallon to be between $3.30 and $3.35.  GAAP fuel costs reflect Hawaiian’s operating expenses for jet fuel purchases, including taxes, duties and delivery, but excluding the impact of Hawaiian’s fuel hedging program.  Hawaiian’s fuel supply contract pricing typically lags changes in spot pricing, and as such, recent declines in the price of jet fuel are not fully reflected in expected second quarter average cost per gallon.  Hawaiian expects its fuel consumption to increase by 18% to 19% year-over-year in the quarter as a result of its increases in capacity.

The Company believes that economic fuel expense is the best measure of the effect of fuel prices on its business as it most closely approximates the net cash outflow associated with the purchase of fuel for its operations in a period.  The Company defines economic fuel expense as GAAP fuel expense plus

(gains)/losses realized through actual cash (receipts)/payments received from or paid to hedge counterparties for fuel hedge derivative contracts settled during the period.  For the quarter ending June 30, 2011, Hawaiian expects its economic fuel cost per gallon to be 7 to 9 cents lower than its GAAP fuel cost per gallon.

The Company’s fuel derivative contracts 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 non-operating (income) expense in the period of change.  As a result of changes in fuel prices between March 31, 2011 and May 31, 2011, the Company recorded non-operating expense of $5.0 million related to its fuel derivative contracts during the first two months of the second quarter 2011.  The ultimate recognition of non-operating income or expenses relating to the Company’s fuel derivative contracts for the quarter ending June 30, 2011 will be affected by changes in the price of fuel through the remainder of the period.

Safe Harbor Statement

This investor update contains forward-looking statements that reflect the Company’s current views with respect to certain current and future events and financial performance, including but not limited to statements regarding expected passenger revenue per available seat mile, cost per available seat mile excluding fuel, available seat miles (capacity), average GAAP fuel cost per gallon, economic fuel cost per gallon and fuel consumption.  These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the Company’s actual results to be materially different from any future results, expressed or implied, in these forward-looking statements.  These risks and uncertainties include, without limitation, economic volatility; the price and availability of aviation fuel; competition in the transpacific, interisland and South Pacific/Australia/Asia markets; reduced demand for transportation in the markets in which the Company operates; the Company’s dependence on tourist travel; and the Company’s ability to implement its growth strategy and related cost reduction goals.  The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.  Additional information on risk factors that could potentially affect the Company’s operations and financial results may be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, in the prospectus supplement relating to the offering of convertible notes filed with the Securities and Exchange Commission, and other filings with the Securities and Exchange Commission.