Hawaiian Airlines commenced (28-Apr-2010) its long-range fleet renewal and expansion programme, taking delivery of the first of up to 27 new widebody Airbus aircraft (a 294-seat A330-200) that will be integrated into its fleet over the next decade. The new A330 is scheduled to arrive at Honolulu International Airport on 03-May-2010, after which the aircraft and its flight crews will undergo preparations to commence service on the Honolulu-Los Angeles route in early Jun-2010. Hawaiian is leasing three A330s that join the fleet in 2010 and has signed a purchase agreement with Airbus to acquire seven A330s (starting in 2011) and six A350XWB-800 aircraft (starting in 2017), as well as purchase rights for an additional five A330s and six A350s. [more]
Hawaiian takes delivery of first new A330 in fleet expansion
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Global commercial aircraft deliveries fell in 2016 as Boeing again outsold Airbus; 2017 to be a peak
The global commercial aircraft fleet grew by 4% in 2016 and the year ended with an order backlog of more than nine years of production. Among the regions, North America still has the biggest and oldest fleet, but the lowest ratio of orders to aircraft in service. By contrast, Middle East has the fewest in service, but the highest ratio of orders to current fleet numbers.
This report gives an overview of the number of commercial aircraft deliveries in 2016 and the outlook into 2017 and beyond. It also looks at numbers in service and on order by region. It is based on preliminary numbers from the CAPA Fleet Database and guidance on 2016 deliveries from Airbus and Boeing, who have yet to announce final numbers.
The data indicate that total worldwide deliveries fell in 2016, the first such decline for six years, as a result of delays to new aircraft programmes. Boeing delivered more aircraft than Airbus for the fifth straight year, but its deliveries fell short of its 2015 level, while Airbus increased its numbers year-on-year. Total deliveries will likely rise again in 2017, but this may prove to be a peak year.
Hawaiian Airlines bolsters its balance sheet strength ahead of a capex spike in 2017
During the first of half of the decade Hawaiian Airlines’ business strategy was marked by significant long haul growth that required equally meaningful cash outlays. As a result, the company undertook significant borrowings and invested all of the cash that it generated back into the business.
Over the past two years Hawaiian’s growth has slowed, its long haul routes have matured and overall competitive dynamics in the airline’s markets have tilted in its favour. Those factors, along with others, have resulted in Hawaiian posting a robust financial performance. This has allowed Hawaiian to slash debt and improve its leverage, leading to a markedly stronger balance sheet.
Now Hawaiian is in a position to determine the optimal cash balances for its business. The company also continues to study allocation of its cash, but with a spike in capital expenditures in 2017 spurred by aircraft acquisitions Hawaiian is not gearing up for a massive change in shareholder returns.