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Hawaiian Airlines reports better than expected quarter in 2Q2013

24-Jul-2013 1:13 PM

Hawaiian Airlines revenue up 10% – financial highlights:

  • Three months ended 30-Jun-2013:
    • Total operating revenue: USD533.9 million, +10.2% year-on-year;
    • Total operating costs: USD496.5 million, +9.1%
      • Fuel: USD169.2 million, +12.5%;
      • Labour: USD103.4 million, +6.9%;
    • Operating profit: USD37.4 million, +27.5%;
    • Net profit: USD11.3 million, +190%;
    • Passenger traffic (RPMs): +16.3%;
    • Passenger load factor: 80.9%, -3.1 ppts;
    • Operating revenue per ASM: USD 12.66 cents, -8.9%;
    • Operating cost per ASM: USD 11.78 cents, -9.7%;
    • Cost per ASM excl fuel: USD 7.76 cents, -11.2%;
  • Six months ended 30-Jun-2013:
    • Total operating revenue: USD1025 million, +11.4%;
    • Total operating costs: USD999.2 million, +13.8%;
      • Fuel: USD343.7 million, +18.2%;
      • Labour: USD206.1 million, +10.3%;
    • Operating profit: USD25.5 million, -39.7%;
    • Net profit (loss): (USD5.8 million), compared to a profit of USD11.2 million in p-c-p;
    • Passenger traffic: +19.0%;
    • Passenger load factor: 80.9%, -3.0ppt;s
    • Operating revenue per ASM: USD 12.52 cents, -9.8%;
    • Operating cost per ASM: USD 12.21 cents, -7.8%;
    • Cost per ASM excl fuel: USD 8.01 cents, -9.6%. [more - original PR]

Hawaiian Airlines: “Our results for the quarter were better than expected thanks chiefly to some good cost control. Demand across all of our geographies remains strong, even overseas where the dollar has strengthened against foreign currencies. In North America, our business is coming back as the rate of industry capacity growth moderated in the quarter while our Neighbor Island business is now performing well. On our international routes we are seeing the strengthening of the dollar undermine some of the excellent results we have had in the last couple of years but this portion of our business remains the core focus of our expansion plans,” Mark Dunkerley, President and CEO. Source: Company statement, 23-Jul-2013.