Hawaiian Holdings (HA) Sept. RPMS Increases 8.7%, Capacity up 5%

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October 6, 2016 4:36 PM EDT
Get Alerts HA Hot Sheet
Price: $18.00 --0%

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Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA), has announced its system-wide traffic statistics for the month of September, third quarter and year-to-date. It also updated its expectations for certain third quarter metrics.

SYSTEM-WIDE OPERATIONS1

SEPTEMBER

2016

2015

% CHANGE

PAX

883,315

848,252

4.1%

RPMS (000)

1,286,281

1,182,794

8.7%

ASMS (000)

1,512,928

1,440,748

5.0%

LF

85.0%

82.1%

2.9 pts.

THIRD QUARTER

2016

2015

% CHANGE

PAX

2,918,230

2,832,572

3.0%

RPMS (000)

4,170,671

3,884,851

7.4%

ASMS (000)

4,894,768

4,663,198

5.0%

LF

85.2%

83.3%

1.9 pts.

YEAR-TO-DATE

2016

2015

% CHANGE

PAX

8,321,114

8,014,398

3.8%

RPMS (000)

11,559,795

10,822,970

6.8%

ASMS (000)

13,813,955

13,334,528

3.6%

LF

83.7%

81.2%

2.5 pts.

PAX

Passengers transported

RPM

Revenue Passenger Miles; one paying passenger transported one mile

ASM

Available Seat Miles; one seat transported one mile

LF

Load Factor; percentage of seating capacity filled

1 Includes the operations of contract carriers under capacity purchase agreements.

Third Quarter 2016 Outlook

The Company has revised its expectations for the quarter ending September 30, 2016 provided previously in its Second Quarter 2016 Earnings Release on July 21, 2016.

Specifically, the Company expects its operating revenue per available seat mile to be at the favorable end of the prior guidance range.

The table below summarizes the Company's revised expectations for the quarter ending September 30, 2016, expressed as an expected change compared to the results for the quarter ended September 30, 2015 (the results for which are presented for reference).

Third Quarter

Item

2015

Prior Guidance

Revised Guidance

Cost per ASM Excluding Fuel (cents)

7.97

Up 2% to up 5%

Up 3% to up 4%

Operating Revenue per ASM (cents)

13.55

Down 1% to up 2%

Up 0.5% to up 1.5%

Gallons of jet fuel consumed (millions)

61.2

Up 4% to up 6%

Up 5.5% to up 6.5%

Economic fuel cost per gallon

$

1.95

$1.50 to $1.60

$1.48 to $1.53

The Company believes that economic fuel expense is the best measure of the effect of fuel prices on the business as it most closely approximates the net cash outflow associated with the purchase of fuel for operations in a period and is consistent with how management manages the business and assesses operating performance. The Company defines economic fuel expense as raw fuel expense plus (gains)/losses realized through actual cash payments to/(receipts from) hedge counterparties for fuel hedge derivatives settled in the period inclusive of costs related to hedging premiums.


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