HONOLULU - Hawaiian Airlines ended 2004 the way it started - as the nation's most successful airline at attracting customers. Hawaiian led the airline industry with a systemwide load factor of 85.7 percent for 2004, an improvement of 5.4 percentage points over 2003 (see chart below). For every month of 2004, Hawaiian led all carriers nationwide in year-to-date load factor.

Along with filling more seats, Hawaiian improved in its most important traffic category - Revenue Passenger Miles (RPMs) - increasing by 7.6 percent versus 2003. After Hawaiian, the remainder of 2004's top five airlines for load factor were JetBlue, 83.2 percent; Northwest, 80.2 percent; United, 79.2 percent; and Spirit, 78.7 percent, according to statistics published by Aviation Daily. The industry average for the year stands at 75.7 percent. For December 2004, Hawaiian's 84.1 percent load factor led all carriers while remaining unchanged compared to the year prior. The top five airlines in load factor for December 2004 following Hawaiian were JetBlue, 82.0 percent; Northwest, 78.2 percent; United, 77.7 percent; and Continental, 77.3 percent. The industry average for the month was 73.9 percent.

About Hawaiian AirlinesHawaiian 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, Cond� Nast Traveler and Travel + Leisure, have both rated Hawaiian as the top domestic airline serving Hawaii in their most recent rankings, and the fifth best domestic airline overall.

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). Since the appointment of a bankruptcy trustee in May 2003, Hawaiian Holdings has had no responsibility for the management of Hawaiian Airlines and has had limited access to information concerning the airline. Additional information is available at www.HawaiianAirlines.com.

HAWAIIAN AIRLINES, INC.TRAFFIC STATISTICS

DECEMBER QTR4 YEAR T0 DATE 2004 2003 Percent Change 2004 2003 Percent Change 2004 2003 Percent Change SCHEDULED PAX 435,226 481,321 (9.6%) 1,309,998 1,407,614 (6.9%) 5,579,528 5,597,407 (0.3%) RPMS 523,736,062 518,063,769 1.1% 1,544,295,859 1,478,462,262 4.5% 6,134,248,389 5,550,135,530 10.5% ASMS 620,039,020 614,848,286 0.8% 1,778,250,339 1,747,265,363 1.8% 7,150,651,417 6,915,283,075 3.4% LF 84.5% 84.3% 0.2 pts 86.8% 84.6% 2.2 pts 85.8% 80.3% 5.5 pts CHARTER PAX 7,198 2,636 173.1% 13,365 9,264 44.3% 35,129 87,776 (60.0%) RPMS 19,523,560 6,241,684 212.8% 34,709,723 21,657,916 60.3% 92,229,020 236,161,486 (60.9%) ASMS 25,821,762 8,711,523 196.4% 45,612,994 28,952,980 57.5% 114,159,452 293,773,370 (61.1%) LF 75.6% 71.6% 4.0 pts 76.1% 74.8% 1.3 pts 80.8% 80.4% 0.4 pts TOTAL PAX 442,424 483,957 (8.6%) 1,323,363 1,416,878 (6.6%) 5,614,657 5,685,183 (1.2%) RPMS (000) 543,260 524,305 3.6% 1,579,006 1,500,120 5.3% 6,226,477 5,786,297 7.6% ASMS (000) 645,861 623,560 3.6% 1,823,863 1,776,218 2.7% 7,264,811 7,209,056 0.8% LF 84.1% 84.1% 0.0 pts 86.6% 84.5% 2.1 pts 85.7% 80.3% 5.4 pts

RPM = one paying passenger transported one mile ASM = one seat transported one mile LF = percentage of seating capacity utilized - 30 -

Press Contact: Patrick Dugan pdugan@mcneilwilson.com Ph: +1 (808) 539-3411