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Hawaiian's Turnaround Earns Worldwide Aviation Award

'Airline Strategy Awards' Honor Best Performing Airlines' Leadership

HONOLULU –- The turnaround of Hawaiian Airlines has earned international acclaim with the company's management winning top honors for finance at the 2005 Airline Strategy Awards.

With more than 200 senior executives of the international airline community in attendance, the prestigious industry awards were presented July 17th to the world's top performing airlines at a gala awards banquet in London.

In accepting the Finance Award for Hawaiian, President and CEO Mark Dunkerley said, “This is a proud moment for everyone on Hawaiian's management team. Together, we've made countless adjustments to the way we run our business and the results have been remarkable.

“Indeed, to have these achievements recognized, first by the investment in us from Ranch Capital and now by the prestigious Airline Strategy Awards, should be a mark of pride for all of Hawaiian's employees. Certainly, none of our accomplishments would have been possible without the diligence and commitment of every employee in our company to doing what it takes to get ahead in this very competitive business,” Dunkerley said.

The Airline Strategy Awards, sponsored by Airline Business magazine, recognize airline leadership in six categories: Finance (won this year by Hawaiian); Marketing (Southwest); Operations (Ryanair); Technology (IATA); Regional Airline Leadership (Air Asia); and Executive Leadership (Geoff Dixon, QANTAS). An Award is also presented for lifetime contribution (Herb Kelleher, Southwest).

Hawaiian was honored for its successful restructuring, which, starting in 2002, has seen the business move from record-breaking losses to profitability in 2003 and 2004. The judging panel took special note that while other similarly troubled airlines have restructured by breaking commitments to suppliers, pension funds, employees and other creditors, Hawaiian restructured while keeping its commitments and thereby set an example for the industry.

In 2004, Hawaiian also ranked tops in the nation for service to consumers as measured by the U.S. Department of Transportation. Hawaiian finished #1 for punctuality, #2 for best baggage handling, #2 for fewest oversales, and in the top five for fewest consumer complaints.

Airline Business magazine is headquartered in the United Kingdom and is widely regarded as the authoritative source of opinion and analysis on strategic airline issues for senior aviation professionals.

About Hawaiian Airlines

Hawaiian Airlines, the nation's number one on-time carrier, is recognized as one of the best airlines in America. Readers of two prominent national travel magazines, Condé Nast Traveler and Travel + Leisure, have consistently rated Hawaiian as the top domestic airline serving Hawaii and one of the best domestic airlines overall in annual surveys.

Celebrating its 76th year of continuous service, Hawaiian is Hawaii's biggest and longest-serving airline, and the second largest provider of passenger air service between Hawaii and the U.S. mainland. Hawaiian offers nonstop service to Hawaii from more U.S. gateway cities than any other airline. Hawaiian also provides approximately 100 daily jet flights among the Hawaiian Islands, as well as service to Australia, American Samoa and Tahiti.

Hawaiian Airlines, Inc., is a subsidiary of Hawaiian Holdings, Inc. (AMEX and PCX: HA). Additional information is available online at HawaiianAirlines.com.

This press release contains certain forward-looking statements, which are based upon current expectations and estimates and involve material risks and uncertainties, including, without limitation, the ability to continue operating profitably. Readers are cautioned that any such forward-looking statement is not a guarantee of future performance and that actual results may differ materially from those projected in the forward-looking statements. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.



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