US Bureau of Transportation Statistics (BTS) released (06-Oct-2009) the Air Travel Consumer Report for Aug-2009. According to the report, the largest US airlines had a rate of on-time services in Aug-2009 that was higher than same month last year and Jul-2009. Details include:
US airlines report on-time performance rate of 79.7% in Aug-2009
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Although Hawaiian continues to outperform the industry in unit revenue, the company is facing inflated unit costs in 2016 driven by several factors, including increased compensation and technology investments. The airline is also in the middle of pilot negotiations, and has acknowledged additional cost headwinds once a new collective bargaining agreement is reached.
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.