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05.12.2016 13:05
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Hawaiian Airlines Reports November 2016 Traffic Statistics and Updates Expected Fourth Quarter Metrics
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PR Newswire
HONOLULU, Dec. 5, 2016
HONOLULU, Dec. 5, 2016 /PRNewswire/ -- Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA), has announced its system-wide traffic statistics for the month of November and year to date. It also updated its expectations for certain fourth quarter financial metrics.
| SYSTEM-WIDE OPERATIONS1 | |||
| | |||
| NOVEMBER | 2016 | 2015 | % CHANGE |
| PAX | 869,970 | 845,276 | 2.9% |
| RPMS (000) | 1,249,075 | 1,145,855 | 9.0% |
| ASMS (000) | 1,455,392 | 1,414,898 | 2.9% |
| LF | 85.8% | 81.0% | 4.8 pts. |
| | | | |
| YEAR-TO-DATE | 2016 | 2015 | % CHANGE |
| PAX | 10,123,319 | 9,768,020 | 3.6% |
| RPMS (000) | 14,155,896 | 13,218,458 | 7.1% |
| ASMS (000) | 16,795,372 | 16,218,104 | 3.6% |
| LF | 84.3% | 81.5% | 2.8 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. | |
Fourth Quarter 2016 Outlook
The Company has revised its expectations for the quarter ending December 31, 2016 provided in its Third Quarter 2016 Earnings Release on October 18, 2016.
Specifically, the Company raised its expectation for revenue per ASM growth and increased its guidance range.
The Company also announced today that it will add three new aircraft as part of its long-term fleet strategy with the purchase of one A330-200 arriving in the fourth quarter of 2017 and has a letter of intent to lease two additional A321neos being delivered in early 2018. The newly ordered planes will enable the Company to early retire its fleet of Boeing 767 aircraft by the end of 2018. This will result in a non-cash impairment charge of approximately $45 to $50 million to the Company's owned fleet of Boeing 767 aircraft, engines and related assets in the fourth quarter of 2016. After taxes, the impairment charge on net income is expected to be $27 to $30 million. The Company also expects to record a financial charge resulting from the early termination of a third-party maintenance contract for certain activities related to its Boeing 767 aircraft when an agreement is reached.
The table below summarizes the Company's expectations for the fourth quarter ending December 31, 2016, expressed as an expected percentage change compared to the results for the quarter ended December 31, 2015.
| Item | | Original Guidance | | Revised Guidance | | GAAP Equivalent | | Original Guidance | | Revised Guidance |
| Cost per ASM Excluding Fuel and Impairment Charge (a) | | Up 2.5% to up 5.5% | | Up 2.5% to up 5.5% | | Cost per ASM (a) | | Up 2.8% to up 6.4% | | Up 11.3% to up 16.0% |
| Operating Revenue Per ASM | | Up 0.5% to up 3.5% | | Up 3% to up 6% | | | | | | |
| ASMs | | Up 3% to up 5% | | Up 3% to up 5% | | | | | | |
| Gallons of jet fuel consumed | | Up 4.5% to up 6.5% | | Up 4.5% to up 6.5% | | | | | | |
| Economic fuel cost per gallon (b)(c) | | $1.50 to $1.60 | | $1.45 to $1.55 | | Fuel cost per gallon (b) | | $1.56 to $1.66 | | $1.49 to $1.59 |
| | ||||||||||
| (a) | See reconciliation of operating expenses to operating expenses excluding aircraft fuel and impairment charge. |
| (b) | Fuel estimates are based on the November 30, 2016 fuel forward curve. |
| (c) | See reconciliation of actual fuel costs to economic fuel costs. |
The Company believes that providing Cost per ASM Excluding Fuel and Impairment Charge provides useful information about the underlying ongoing cost structure of the Company and is consistent with the metrics used by management to measure and monitor the Company's costs. 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.
| Non-GAAP Financial Reconciliations | ||||||||
| | ||||||||
| | | Estimated three months ending December 31, 2016 | ||||||
| GAAP operating expenses | | $ | 533,220 Werbung Mehr Nachrichten zur Hawaiian Holdings Aktie kostenlos abonnieren
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