Hawaiian Airlines Updates Expected First Quarter and Full Year 2018 Metrics, Recasts Results per New Accounting Standard

HONOLULU, March 12, 2018

First Quarter 2018 Outlook
The Company has revised certain of its expectations for the quarter ending March 31, 2018 that were previously provided on January 29, 2018.

Specifically, for the quarter ending March 31, 2018 the Company:

• raised its expectations for operating revenue per available seat mile (RASM) due to better-than-expected passenger revenue performance in each of its geographies and cargo demand across the network; 
• revised its expectations for available seat miles (ASMs) and fuel consumption due in part to adjustments in aircraft deployments related to the delayed delivery of A321neo aircraft; and 
• revised its expectations for operating cost per available seat mile (CASM) excluding fuel and special items.

The Company also expects to record one-time charges in the first quarter totaling between $35 million and $40 million related to the purchase of three previously leased Boeing 767 aircraft, as well as the cancellation of an order for six Airbus A330-800 aircraft.  These one-time charges will have no impact on CASM excluding fuel and special items.

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

	First Quarter 2017 ARIVA.DE Börsen-Geflüster Kurse Hawaiian Holdings 12,38 $ +0,81%		Original First Quarter 2018 Guidance		Revised First Quarter 2018 Guidance		GAAP Equivalent		Original GAAP First Quarter 2018 Guidance		Revised GAAP First Quarter 2018 Guidance
Operating revenue per ASM (a)	13.40¢		Down 0.5% to up 2.5%		Up 3.0% to up 5.0%
Cost per ASM excluding aircraft fuel and special items (a)(b)	9.33¢		Up 3.5% to up 6.5%		Up 4.0% to up 6.0%		Cost per ASM		Up 3.3% to up 6.7%		Up 9.5% to up 13.2%
ASMs (000s)	4,522,353		Up 3.0% to up 5.0%		Up 4.0% to up 5.0%
Gallons of jet fuel consumed (000s)	61,738		Up 4.0% to up 6.0%		Up 5.0% to up 7.0%

Full Year 2018 Outlook
The Company has also revised certain of its expectations for the full year ending December 31, 2018 that were previously provided on January 29, 2018.

Specifically, for the year ending December 31, 2018 the Company raised its expectations for CASM excluding aircraft fuel and special items and lowered its expectations for ASMs due to unforeseen delays in the delivery of A321neos.  Excluded from the Company's expectations for CASM excluding aircraft fuel and special items are any assumptions related to the amendable contract with its flight attendant union.

The table below summarizes the Company's revised expectations, expressed as an expected percentage change compared to results for the year ended December 31, 2017.

The Company believes that cost per ASM excluding aircraft fuel and special items provides useful information about the underlying cost structure of the Company and is consistent with the metrics used by management to measure and monitor the Company's costs.

New Revenue Recognition Accounting Standard
As of January 1, 2018, the Company adopted Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, which affects the Company's accounting for frequent flyer mileage sales, passenger revenue, other operating revenue, and selling costs.  For additional details on the impact of the standard, see the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

The Company elected to adopt ASC 606 using the full retrospective transition method and is recasting certain quarterly and full year 2016 and 2017 financial results previously reported to reflect the expected results.  The adoption and related disclosures required by GAAP will be reported in the Company's future filings beginning in its Quarterly Report on Form 10-Q for the first quarter of 2018.

Statements of Operations: Select Recast GAAP Results (unaudited)
(in thousands, except per share data)	First Quarter 2016		Second Quarter 2016		Third Quarter 2016		Fourth Quarter 2016		Full Year 2016
Operating Revenue:
Passenger	$     507,935		$     551,776		$     628,975		$     583,001		$  2,271,687
Other	36,339		39,109		40,908		44,370		160,726
Total	$     544,274		$     590,885		$     669,883		$     627,371		$  2,432,413
Operating Expenses	451,023		469,507		496,294		618,102		2,034,926
Operating Income	93,251		121,378		173,589		9,269		397,487
Nonoperating Income (Expense)	(13,846) 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 09:20 - PR Newswire Temple Bar Investment Trust Plc - Directorate Change 02:00 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Hipgnosis Songs Fund Ltd 02:00 - PR Newswire Datang Intnl Pwr Gen - Monthly Return Grüne Revolution    Foto: - researchanalyst.com Neue Technologie verspricht umweltfreundliche Lieferungen weiterlesen» Anzeige wo-site-teaser-box-16869_site-teaser-box_2024-05-07_07%253A00%253A00_2024-05-08_09%253A00%253A59