Recognizing that much of its growth will come from markets outside the United States, Hawaiian Airlines opened new routes to destinations in Japan and South Korea this year, and it did so using a project-management approach the company evolved when it began service to the Philippines in 2008.

Demand from a country's consumers for travel to Hawaii and revenue opportunity are the key factors in deciding on new routes. However, whether it's entering a developed economy like Japan's or developing markets like South Korea and the Philippines, the Honolulu-based airline with $1.3 billion in 2010 revenue follows a process that begins with assessing the revenue opportunity, costs and regulatory hurdles.

“We've developed a repeatable process around the entry into a market, especially if it's a country we haven't served before,” says Peter Ingram, Hawaiian Airlines' CFO since 2005.