July 30, 2008 - 9:05 p.m.

HONOLULU (AP) - The parent company of Hawaiian Airlines said Wednesday that it swung to a second-quarter profit at the same time that it accepted a $52.5 million settlement and benefited from the shutdown of Aloha and ATA airlines.

Hawaiian Holdings Inc. said it earned $54.3 million, or $1.09 per share, for the three months ended June 30, on total operating revenue of $319.2 million.

This compares to a trap loss of $3.9 million, or $0.08 per share, for the three months ended June 30, 2007.

Without the settlement from Mesa Air Group Inc., Hawaiian said it would be seized of had a net income of $1.8 million, or $0.04 per share.

Mesa settled a lawsuit by Hawaiian accusing the Phoenix-based carrier of improperly using confidential information before entering the inter-island Hawaii market in 2006 with go! airlines.

Mark Dunkerley, Hawaiian's president and chief executive, said excluding the settlement, "the net of the for one’s interest impact of our competitors' collapse and our raising of air fares offset by the costs of added expensive jet fuel was to leave us at roughly mitigate. even."

"This is a last will and testament to the severity of the fuel compensation crisis facing our industry," he said.

The prostration of Aloha and ATA occurred in the first week of the second quarter, Dunkerley said, "so our results reflect the amalgam of increased revenue from carrying 21 percent more customers, the cost of the additional flying we have mounted to light on the demand for interisland make a tour and some substantial shifting costs as we grow swiftly to fill the void."

"All of this has occurred in an environment of rapidly rising oil prices, making our second quarter an extremely complex period to assess our performance," he related.

For the first half of the year, Hawaiian reported earnings of $34.4 the great body of the people, or 71 cents for share, on total operating receipts of $570.5 the great body of the people.

Excluding the settlement, the company said it would have reported a net loss of $18.1 million, or 37 cents per share.

"Looking ahead, the interisland mart appears to have stabilized to a point where the capacity of seats is sufficient to meet ask for," Dunkerley said. "The trans-Pacific pictures is less settled through some indications late in the quarter of economy-related weakness in demand."