Tuesday, 9 October 2018

Hawaiian Airlines September and year to date numbers crunched and presented.

From the sunshine Islands of Hawaii, the local hometown airline has released its latest results this week, showing Hawaiian Airlines welcomed nearly 919 thousand guests in September 2018, a record for the month of September and an increase of over half a percent from the same period last year.  Total traffic (revenue passenger miles) increased 5.8% on an increase of 9.6% in capacity (available seat miles).  Load factor decreased by 3.0 points to 83.6 percent.

For the three months ended 30th September 2018, Hawaiian welcomed more than three million guests, a record for the third quarter and an increase of 1.3 percent over the same period last year.  Total traffic increased 6.2 percent on an increase of 8.1 percent in capacity.  Load factor decreased 1.6 points to 85.5 percent.




The table below summarizes September, third quarter, and year-to-date traffic statistics compared to the respective prior-year periods.
SYSTEM-WIDE OPERATIONS1
SEPTEMBER
2018
2017
% CHANGE
PAX
918,715
913,488
0.6%
RPMS (000)
1,446,766
1,367,347
5.8%
ASMS (000)
1,729,723
1,578,385
9.6%
LF
83.6%
86.6%
(3.0 pts.)




THIRD QUARTER
2018
2017
% CHANGE
PAX
3,039,107
3,001,446
1.3%
RPMS (000)
4,557,706
4,293,095
6.2%
ASMS (000)
5,352,976
4,950,800
8.1%
LF
85.1%
86.7%
(1.6 pts.)




YEAR-TO-DATE
2018
2017
% CHANGE
PAX
8,948,975
8,591,733
4.2%
RPMS (000)
12,921,666
12,190,846
6.0%
ASMS (000)
15,104,500
14,208,642
6.3%
LF
85.5%
85.8%
(0.3 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

Third Quarter 2018 Outlook
The Company has revised its expectations for the quarter ending September 30, 2018, that were previously provided on September 5, 2018.
Specifically, for the third quarter, the Company:
  • lowered its expectations for revenue per ASM (RASM) as a result of service disruptions, passenger cancellations and booking interruptions stemming from Hurricane Olivia that affected the Hawaiian island chain in early September, and from Typhoon Jebi that affected Japan in September and resulted in the closure of Osaka's Kansai International Airport for more than 10 days;
  • raised its expectations for gallons of jet fuel consumed due to higher than expected fuel burn in the quarter; and
  • lowered its expectations for costs per ASM (CASM) excluding fuel and special items.
The table below summarizes the Company's revised expectations for the quarter ending September 30, 2018, expressed as an expected percentage change compared to the results for the quarter ended September 30, 2017.

Item

Prior Third
Quarter 2018
Guidance

Revised Third
Quarter 2018
Guidance

GAAP
Equivalent

Prior GAAP
Third Quarter
2018
Guidance

Revised
GAAP Third
Quarter 2018
Guidance
Operating revenue per available seat mile (ASM)

Flat – Down 2.0%

Down 1.5 – 2.5%






Cost per ASM (CASM) excluding aircraft fuel and special items (a)

Up 0.5 – 3.5%

Up 1.0 – 2.0%

Cost per ASM

Up 6.8 – 10.3%

Up 7.6 – 9.9%
Gallons of jet fuel consumed




Up 5.0 – 7.0%

Up 7.0 – 8.0%




..Non-GAAP Financial Reconciliations
Operating Costs per Available Seat Mile (CASM) (in thousands, except CASM data) (unaudited)


Estimated three months ending September 30, 2018
GAAP operating expenses

$
636,401

to

649,791

Less: aircraft fuel, including taxes and delivery

(159,006)

to
(167,670)

Adjusted operating expenses - excluding aircraft fuel and special items


477,394

to

482,121

Available Seat Miles

5,351,815

to
5,351,815

CASM – GAAP

11.89
¢
to
12.14
¢
Less: aircraft fuel

(2.97)

to
(3.13)

CASM - excluding aircraft fuel and special items

8.92
¢
to
9.01
¢
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