Hawaiian Holdings reports operating profit in 1Q2014

Hawaiian Holdings revenue up 7% - financial highlights for three months ended 31-Mar-2014:

• Total operating revenue: USD524.9 million, +6.9% year-on-year;
• Total operating costs: USD514.8 million, +2.4%;
• • Fuel: USD171.1 million, -1.9%;
  • Labour: USD107.5 million, +4.6%;
• Operating profit: USD10.0 million, compared to a loss of USD11.9 million in p-c-p;
• Net profit (loss): (USD5.1 million), compared to a loss of USD17.1 million in p-c-p;
• Passenger traffic (RPMs): +0.7%;
• Passenger load factor: 80.0%, -1.0 ppt;
• Operating revenue per ASM: USD 12.99 cents, +5.0%;
• Operating cost per ASM: USD 12.75 cents, +0.6%;
• Cost per ASM excl fuel: USD 8.51 cents, +2.8%;
• Unrestricted cash, cash equivalents and short-term investments: USD479 million;
• 2Q2014 forecast:
• • Cost per ASK excl fuel: +4% to +7%;
  • Passenger revenue per ASM: +3% to +6%;
  • Operating revenue per ASM: +4.5% to +7.5%;
  • Capacity (ASM): +0.5% to +2.5%;
  • Jet fuel consumption: Flat to +2%;
• FY2014 forecast:
• • Cost per ASM excl fuel: +2% to +5%;
  • Capacity (ASM): +1% to +4%. [more - original PR]

Hawaiian Holdings: "Good cost control and strong performance from our domestic network helped offset the impact of unfavorable exchange rate changes which weighed on our international business. Strong levels of demand throughout leave us encouraged that the improvements seen these last six months will continue for the remainder of 2014," Mark Dunkerley, CEO and President. Source: Company statement, 22-Apr-2014.