Hawaiian Airlines expects to decrease future capital spending

Hawaiian Airlines EVP-CFO and Treasurer Scott Topping stated (03-Dec-2014) the carrier's future capital spending is expected to decline, with A330 deliveries complete in 2015, no planned deliveries in 2016, A321neo deliveries in 2017, and four planned Boeing 767 retirements/returns in 2015 to 2016. Hawaiian has "stable CASM ex-fuel year-over-year despite moderating growth", according to Mr Topping, who stated the carrier expects to generate strong cash and turn FCF positive in 2015. Mr Topping said the carrier needs to "review our balance sheet strategy, optimise to compete effectively over the long-term, [and] guide decision making on capital allocation." Hawaiian Airlines has a new revolving credit facility of USD175 million, with a liquidity target of 23% to 25%. [more - original PR]