1. 1 Webcast / Conference Call Tuesday, January 19, 2010 Hosted by Mark Dunkerley President and CEO HAWAIIAN LIVE 2010: Our New Beginning

2. 2 LABOR UPDATE

3. 3 AFA-CWA: Ratified 3/31/2009 TWU: Ratified 11/09/2009 ALPA: Ratified 1/14/2010 IAM-C: Ratified 1/18/2010 IAM-M: In Mediation Next Meeting: 1/26/2010 to 1/28/2010 HAWAIIAN LIVE Labor Update

4. 4 AIRLINE SECURITY

5. 5 Christmas Day bomb attempt (Northwest Flight 253) Intense news media coverage Authorities cautious Congressional hearings HAWAIIAN LIVE Airline Security Heightened Awareness

6. 6 2010: LOOKING AHEAD

7. 7 2010 Challenges Revenues declining Fuel costs increasing All other expenses increasing HAWAIIAN LIVE Looking Ahead

8. 8 Revenue Remains Challenging Effects of the Recession linger Interisland uncertainty Transpac: – West Coast fares declining – Capacity increasing 9% (about 500,000 new seats this year) – International markets remain competitive HAWAIIAN LIVE Looking Ahead

9. 9 Fuel Prices Rising HAWAIIAN LIVE Looking Ahead $100 $90 $80 $70 $60 $50 $40

10. 10 Expenses Rising Maintenance 10-year 717 checks begin Power By Hour (PBH) contract escalation Major overhauls on 767 fleet Airbus start-up costs Labor Step increase in contracts Training costs Benefits State payroll taxes Health-care inflation HAWAIIAN LIVE Looking Ahead

11. 11 What We Can Do Labor Productivity Schedule staffing efficiently Eliminate tasks that don’t add value Manage Controllable Maintenance Costs Monitor vendor performance and contracts Vendor Oversight Bid contracts Budget Oversight Trim expense line Focus on What We Can Control HAWAIIAN LIVE Looking Ahead

12. 12 AIRBUS

13. 13 HAWAIIAN LIVE Airbus

14. 14 QUESTIONS?

15. 15

16. 16 MAHALO. A HUI HOU.