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In 2005 Hawaiian Airlines successfully emerged from Chapter 11 bankruptcy, posted the industry`s highest scores for punctuality, load factors, the avoidance of cancellations and the prompt delivery of baggage and achieved profitability for the full year on an operating and pre-tax basis despite difficult industry conditions.

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In addition, during the past month we acquired four 767-300 aircraft

During the first quarter of 2006, Hawaiian purchased four used Boeing

767-300 aircraft at a combined cost of approximately $32 million. All

four aircraft are currently being modified and overhauled for entry

into Hawaiian`s operations. The Company plans to use the aircraft to

expand its service between Hawaii and the US mainland.

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Hawaiian Airlines continued to innovate in 2005, introducing time-

saving barcode technology to its kiosk and Web check-in options,

expanding availability of its ground-breaking digEplayer personal in-

flight entertainment systems,