Hawaiian Airlines Reports September Traffic Statistics, Revises Third Quarter Outlook
Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA), today announced its systemwide traffic statistics for the month of September, third quarter, and year-to-date and updated its expectations for certain third quarter financial metrics.
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Traffic Statistics |
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Systemwide Operations |
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SEPTEMBER |
2012 |
2011 |
% Change |
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PAX |
760,633 |
691,166 |
10.1% |
|
RPMS (000) |
1,060,586 |
837,177 |
26.7% |
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ASMS (000) |
1,298,136 |
994,606 |
30.5% |
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LF |
81.7% |
84.2% |
(2.5 pts.) |
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THIRD QUARTER |
2012 |
2011 |
% Change |
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PAX |
2,521,886 |
2,269,043 |
11.1% |
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RPMS (000) |
3,376,257 |
2,696,892 |
25.2% |
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ASMS (000) |
4,052,248 |
3,166,417 |
28.0% |
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LF |
83.3% |
85.2% |
(1.9 pts.) |
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YEAR-TO-DATE |
2012 |
2011 |
% Change |
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PAX |
7,070,575 |
6,511,009 |
8.6% |
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RPMS (000) |
8,938,530 |
7,543,667 |
18.5% |
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ASMS (000) |
10,680,632 |
8,935,104 |
19.5% |
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LF |
83.7% |
84.4% |
(0.7 pts.) |
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PAX: Passengers transported |
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RPM: One paying passenger transported one mile |
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ASM: One seat transported one mile |
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LF: Percentage of seating capacity utilized |
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Third Quarter 2012 Revised Outlook
Hawaiian has revised its third quarter expectations compared to those provided in its September 4th Investor Update (see table below). The decline in revenue guidance is primarily the result of competitive pricing on a number of specific routes that have seen high rates of industry capacity growth; the improved unit cost guidance is attributable to revenue-driven expense savings, decreased load factors, and lower than expected maintenance expense.
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Third |
Third |
Third |
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Quarter |
Quarter |
Quarter |
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2011 |
2012 Estimated |
2012 Estimated |
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Item |
Actual |
Prior Guidance |
Revised Guidance |
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Cost Per ASM Excluding Fuel (cents) |
8.18 |
Down 5.0% to down 2.0% |
Down 7.3% to down 6.3% |
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Passenger Revenue Per ASM (cents) |
13.05 |
Down 4.5% to down 1.5% |
Down 6.2% to down 5.2% |
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Operating Revenue per ASM (cents) |
14.40 |
Down 4.5% to down 1.5% |
Down 6.3% to down 5.3% |
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Passenger Revenue Per RPM (cents) |
15.32 |
Down 4.0% to down 1.0% |
Down 4.1% to down 3.1% |
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Load Factor (percentage points) |
85.2% |
Down 1 pct pt. to up 1 pct pt. |
Down 1.9 percentage points |
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Capacity (ASMs) |
3.2 billion |
Up 27.5% to up 29.5% |
Up 28.0% |