Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - HAWAIIAN HOLDINGS INC | a10-17394_110q.htm |
| EX-31.1 - EX-31.1 - HAWAIIAN HOLDINGS INC | a10-17394_1ex31d1.htm |
| EX-31.2 - EX-31.2 - HAWAIIAN HOLDINGS INC | a10-17394_1ex31d2.htm |
| EX-32.2 - EX-32.2 - HAWAIIAN HOLDINGS INC | a10-17394_1ex32d2.htm |
| EX-32.1 - EX-32.1 - HAWAIIAN HOLDINGS INC | a10-17394_1ex32d1.htm |
Exhibit 12
Hawaiian Holdings, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
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Nine months ended |
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Year ended December 31, |
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September 30, |
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2005(*) |
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2006 |
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2007 |
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2008 |
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2009 |
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2010 |
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(in thousands, except for ratio) |
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Earnings |
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Income (loss) before income taxes |
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$ |
10,474 |
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$ |
(41,010 |
) |
$ |
(2,071 |
) |
$ |
53,209 |
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$ |
97,196 |
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$ |
58,440 |
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Additions: |
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Total fixed charges (see below) |
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34,161 |
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61,262 |
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65,238 |
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63,574 |
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66,147 |
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48,531 |
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Subtractions: |
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Interest capitalized |
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— |
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3,769 |
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1,309 |
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— |
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— |
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1,308 |
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Earnings as adjusted |
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$ |
44,635 |
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$ |
16,483 |
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$ |
61,858 |
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$ |
116,783 |
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$ |
163,343 |
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$ |
105,663 |
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Fixed Charges: |
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Interest on indebtedness, expensed or capitalized |
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$ |
3,570 |
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$ |
13,863 |
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$ |
24,035 |
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$ |
19,289 |
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$ |
19,378 |
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$ |
11,050 |
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Amortization of debt expense and accretion of convertible debt |
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5,460 |
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3,613 |
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1,475 |
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1,367 |
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1,275 |
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859 |
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Portion of rental expense representative of the interest factor |
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25,131 |
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43,786 |
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39,728 |
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42,918 |
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45,494 |
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36,622 |
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Total fixed charges |
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$ |
34,161 |
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$ |
61,262 |
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$ |
65,238 |
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$ |
63,574 |
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$ |
66,147 |
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$ |
48,531 |
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Ratio of earnings to fixed charges |
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1.31 |
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— |
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— |
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1.84 |
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2.47 |
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2.18 |
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Coverage deficiency |
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$ |
— |
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$ |
44,779 |
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$ |
3,380 |
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$ |
— |
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$ |
— |
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$ |
— |
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(*) Includes the deconsolidated results of operations of Hawaiian Holdings, Inc. from January 1, 2005 through June 1, 2005, and the consolidated results of operations of Hawaiian Holdings, Inc. and Hawaiian Airlines, Inc. from June 2, 2005 through December 31, 2005.