Hawaiian Airlines Reports March and First Quarter 2017 Traffic Statistics and Updates Expected First Quarter Metrics

HONOLULU, April 10, 2017

SYSTEM-WIDE OPERATIONS¹

MARCH	2017	2016	% CHANGE ARIVA.DE Börsen-Geflüster Kurse Hawaiian Holdings 11,60 € 0,00%
PAX	943,363	919,547	2.6%
RPMS (000)	1,322,107	1,233,638	7.2%
ASMS (000)	1,554,953	1,487,944	4.5%
LF	85.0%	82.9%	2.1 pts.
YEAR-TO-DATE	2017	2016	% CHANGE
PAX	2,704,102	2,646,949	2.2%
RPMS (000)	3,798,492	3,542,059	7.2%
ASMS (000)	4,522,354	4,368,096	3.5%
LF	84.0%	81.1%	2.9 pts.

First Quarter 2017 Outlook

The Company has revised its expectations for the quarter ended March 31, 2017 provided in its Fourth Quarter 2016 Earnings Release on January 24, 2017.

Specifically, the Company raised its expectations for operating revenue per ASM growth due to better than expected load factors and stronger yields primarily in the domestic network, and raised its expectations for gallons of jet fuel consumed.

The Company also raised its expectations for cost per ASM (CASM) excluding fuel and special items for the first quarter ended March 31, 2017 to include the impact of a newly ratified pilot contract and adoption of a new Accounting Standard Update. Excluding the impact of the pilots' contract and the effect of the accounting change, the Company's expectations of CASM excluding fuel and special items would be in line with original guidance.

On March 24, 2017, the Air Line Pilots Association (ALPA) announced the ratification of a new contract between the pilots and the Company. As a result, the Company recognized a charge of $7.5 million of wages and benefits expense relating to a ratification bonus, which is incremental to the $34 million special charge recorded in the fourth quarter of 2016. This represents approximately 2 percentage points of year-over-year increase in CASM excluding fuel and special items.

The Company also expects to record a special charge of approximately $20 million in the first quarter primarily related to a one-time lump sum payment for pilot benefits, which will have no impact on CASM excluding fuel and special items.

In addition, as of January 1, 2017, the Company adopted Accounting Standard Update (ASU) 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Cost and Net Periodic Postretirement Benefit Cost, which impacts employers that sponsor defined benefit pension or other post-retirement benefit plans. Specifically, certain components of pension and other post-retirement expense previously recorded in wages and benefits will be reported as non-operating expense (e.g., net periodic benefit costs, including interest cost, expected return on assets, and amortization of prior service cost). As a result, approximately $20 million of wages and benefits expense will be reclassified to non-operating expense for 2016.

The table below summarizes the reclassified expenses for each quarter of 2016:

Furthermore, $4.7 million of expense previously expected to be in the wages and benefits line will now be included in non-operating expense for the quarter ended March 31, 2017.

The table below summarizes the Company's expectations for the quarter ended March 31, 2017, expressed as an expected percentage change compared to the restated results for the quarter ended March 31, 2016.

Item		Original Guidance		Revised Guidance		GAAP Equivalent		Original Guidance		Revised Guidance
Cost per ASM excluding Fuel and Special Items (a)		Up 3% to up 6%		Up 6% to up 8%		Cost per ASM (a)		Up 8.7% to up 12.5%		Up 15.6% to up 18.8%
Operating Revenue Per ASM		Up 4% to up 7%		Up 6.5% to up 8%
Gallons of jet fuel consumed		Up 4.5% to up 6.5%		Up 6% to up 7%
Economic fuel cost per gallon (b) Werbung Mehr Nachrichten zur Hawaiian Holdings Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 24.04.24 - PR Newswire Invesco Asia Trust Plc - Transaction in Own Shares 24.04.24 - PR Newswire Ashtead Group Plc - Transaction in Own Shares 24.04.24 - PR Newswire BlackRock Greater Europe Investment Trust Plc - Portfolio Update SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59