Hawaiian Airlines filed Ch.11 in 2003 — emerged in 2005 as a stronger carrier

Hawaiian Airlines was founded on January 30, 1929 as Inter-Island Airways, beginning service on October 6, 1929 with flights connecting the Hawaiian Islands. It changed its name to Hawaiian Airlines in 1941 and introduced jet service in 1966 with the Douglas DC-9. For most of its history, the airline was the dominant carrier within Hawaii and the leading US carrier on routes to the islands, with a reputation for excellent service.

By the early 2000s, Hawaiian was struggling financially. The 9/11 attacks devastated Hawaii tourism — visitor arrivals dropped sharply, and the airline's revenue collapsed. Hawaiian had also fallen behind on $4.5 million in payments to its pilots' pension plan, and the plan's termination was being considered. With mounting losses and no path to profitability under existing cost structures, Hawaiian Airlines filed for Chapter 11 bankruptcy protection in March 2003.

During its bankruptcy, Hawaiian renegotiated contracts with all union work groups to reduce operating costs, restructured aircraft leases, and sought new investment. In 2004, RC Aviation — a unit of San Diego-based Ranch Capital — bought a majority share in Hawaiian's parent company, Hawaiian Holdings Inc. The investment provided the capital needed to fund the restructuring and the airline's eventual emergence from bankruptcy.

Court approval for the reorganization plan was received in May 2005, and Hawaiian Airlines emerged from Chapter 11 protection on June 2, 2005 — after just over two years in bankruptcy. The airline continued operations with a reduced cost base and new ownership. Hawaiian went on to become one of the most consistently profitable US airlines in the following decade, known for its on-time performance and premium service, until the COVID-19 pandemic severely disrupted its business model.