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Hawaiian Airlines reports 'disappointing' 4Q2012, full year profits up in 2012

30-Jan-2013 3:38 PM

Hawaiian Airlines revenue up 14% - financial highlights:

  • Three months ended 31-Dec-2012:
    • Total operating revenue: USD493.0 million, +13.6% year-on-year;
    • Total operating costs: USD480.7 million, +20.3%;
      • Fuel: USD175.2 million, +32.2%;
      • Labour: USD96.3 million, +18.1%;
    • Operating profit: USD12.2 million, -64.5%;
    • Net profit (loss): (USD3.4 million), compared to a profit of USD20.9 million in p-c-p;
    • Passenger traffic (RPMs): +25.8%;
    • Passenger load factor: 81.8%, -2.2 ppts;
    • Operating revenue per ASM: USD 12.30 cents, -12.0%;
    • Operating cost per ASM: USD 12.00 cents, -6.8%;
    • Cost per ASM excl fuel: USD 7.63 cents, -11.3%;
  • 12 months ended 31-Dec-2012:
    • Total operating revenue: USD1963 million, +18.9%;
    • Total operating costs: USD1833 million, +12.4%;
      • Fuel: USD631.7 million, +23.1%;
      • Labour: USD376.6 million, +17.2%;
    • Operating profit: USD129.4 million, +538%;
    • Net profit: USD53.2 million, compared to a loss of USD2.6 million in p-c-p;
    • Passenger traffic: +20.4%;
    • Passenger load factor: 83.2%, -1.1 ppt;
    • Operating revenue per ASM: USD 13.36 cents, -2.6%;
    • Operating cost per ASM: USD 12.48 cents, -7.8%;
    • Cost per ASM excl fuel: USD 8.18 cents, -11.9%;
    • Unrestricted cash and cash equivalents: USD405.9 million. [more – original PR]

Hawaiian Airlines: “A good year of growth and improving financial performance was finished off by a disappointing break-even result in the fourth quarter. The sharp weakening of the Yen, continued excess capacity in certain markets and an accounting charge all worked to depress our earnings for the period despite many other things going right for the business,” Mark Dunkerley, president and CEO. Source: Company statement, 29-Jan-2013.