Delaware | 001-31443 | 71-0879698 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
HAWAIIAN HOLDINGS, INC. | ||
Date: January 10, 2019 By: | /s/ Shannon L. Okinaka | |
Name: Shannon L. Okinaka Title: Executive Vice President, Chief Financial Officer and Treasurer | ||
FOR IMMEDIATE RELEASE Thursday, January 10, 2019 | Investor Relations Contact: Daniel Wong (808) 835-3700 Investor.Relations@HawaiianAir.com Media Relations Contact: Alex Da Silva (808) 835-3712 Alex.DaSilva@HawaiianAir.com |
DECEMBER | 2018 | 2017 | % CHANGE |
PAX | 981,571 | 1,000,646 | (1.9)% |
RPMS (000) | 1,458,883 | 1,388,279 | 5.1% |
ASMS (000) | 1,737,134 | 1,645,354 | 5.6% |
LF | 84.0% | 84.4% | (0.4) pts. |
FOURTH QUARTER | 2018 | 2017 | % CHANGE |
PAX | 2,891,203 | 2,913,591 | (0.8)% |
RPMS (000) | 4,285,036 | 4,125,894 | 3.9% |
ASMS (000) | 5,067,412 | 4,798,039 | 5.6% |
LF | 84.6% | 86.0% | (1.4) pts. |
YEAR | 2018 | 2017 | % CHANGE |
PAX | 11,840,178 | 11,505,324 | 2.9% |
RPMS (000) | 17,206,703 | 16,316,739 | 5.5% |
ASMS (000) | 20,171,911 | 19,006,682 | 6.1% |
LF | 85.3% | 85.8% | (0.5) pts. |
PAX | Passengers transported |
RPM | Revenue Passenger Miles; one paying passenger transported one mile |
ASM | Available Seat Miles; one seat transported one mile |
LF | Load Factor; percentage of seating capacity filled |
• | is narrowing its estimates for operating revenue per ASM at the positive end of its prior guidance range due primarily to better than expected yields on its International routes and slightly better than expected holiday traffic on its North America routes; |
• | is narrowing its estimates for operating costs per ASM excluding fuel, and gallons of jet fuel consumed; and |
• | is revising its estimate for economic fuel cost per gallon. |
Item | Prior Fourth Quarter 2018 Guidance | Revised Fourth Quarter 2018 Guidance | GAAP Equivalent | Prior GAAP Fourth Quarter 2018 Guidance | Revised GAAP Fourth Quarter 2018 Guidance | |||||
Operating revenue per available seat mile (ASM) | Down 3.0 – 5.0% | Down 3.0 – 4.0% | ||||||||
Cost per ASM (CASM) excluding aircraft fuel (a) | Down 1.0 – 3.0% | Down 1.5 - 2.5% | Cost per ASM (a) | Up 0.6 – 3.3% | Up 1.1 - 2.0% | |||||
Gallons of jet fuel consumed | Flat – Up 2.0% | Up 1.5 – 2.0% | ||||||||
Economic fuel cost per gallon (b) | $2.20 - $2.30 | ~$2.20 | Fuel cost per gallon (b) | $2.31 - $2.40 | ~$2.21 |
Estimated three months ended December 31, 2018 | |||||||||
GAAP operating expenses | $ | 625,805 | to | $ | 631,421 | ||||
Less: aircraft fuel, including taxes and delivery | (149,519 | ) | to | (150,251 | ) | ||||
Adjusted operating expenses - excluding aircraft fuel | $ | 476,286 | to | $ | 481,171 | ||||
Available Seat Miles | 5,067,412 | to | 5,067,412 | ||||||
CASM – GAAP | 12.35 | ¢ | to | 12.46 | ¢ | ||||
Less: aircraft fuel, including taxes and delivery | (2.95 | ) | to | (2.97 | ) | ||||
CASM - excluding aircraft fuel | 9.40 | ¢ | to | 9.50 | ¢ |
Estimated three months ended December 31, 2018 | |||||||||
Aircraft fuel expense, including taxes and delivery | $ | 149,519 | to | $ | 150,251 | ||||
Realized losses on settlement of fuel derivative contracts | (1,000 | ) | to | (1,000 | ) | ||||
Economic fuel expense | $ | 148,519 | to | $ | 149,251 | ||||
Fuel gallons consumed | 67,509 | to | 67,841 | ||||||
Economic fuel costs per gallon | $ | 2.20 | to | $ | 2.20 |
9O\@9C,H9F8H9IDKF9DKF9DKF9DKF68KF68KF68KF68KF68KF68K
MF68KF3,KF3,KF3,KF3,KF3,KF3,KF3,KF3,KF3,K9C,K9C,K9C,K9F8K9F8K
M9F8K9F8K9F8K9F8K9F8K9IDK9IDK9IDK9LPKF Y?C5)2EIK*C^1"
MR'WQB^ $*WC!#&ZP@Q\,X0A+>,(4KK"%+XSA#&MXPQSNL(<_#.(0BWC$)"ZQ
MB4^,XA2K>,4L;K&+7PSC&,MXQC2NL8UOC., =G3?3)M&@>+KW:P_5]$
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M\!0]I6O9MG7[%FY /HGR93/U8N,ZO-/7?B*VVM
MS,A)F>SQ'^ASP4#,(&CNUSYPBEBR,J6I-034O HPQ<:C,"DBMSP*>(H"JB!R
MO#CIA'J0C5JP*/ZLW YSB5(B&*>-J/J#-C$TN/P$X\+#*?51^BCI0(:42(O4
M2(\428^T$Z)A%VY1O*PH-UGB@$S0''."\I*0Z=38]*O"4U7_SBK)U6M GP;0/
MI6ZDJ76@49\(\=[EFK7FU)(Q]=9]^P3CE(+/Y(KL=++C5JX%T3*.*$_FQ;XD
M,58.Z=APW8-;=\I;2JUO8<24.6KYE%HT7'XX^8'6.KHDYO]56CM3:G\B1C]66GM3BW=$\%JC==S2LS3% S-.X:OVZ[JNZWXN
MKME]'1?4<=6";D56X;2_B9L_6HX[F&9WB=7[*8QRV;5W*JBSJMP[I:SWJHBWE$L)#!6%!2
MR0,R%*G^3I];U]HS<0;M6%)ES](O0HZDNE)ZA (X]P&QZ9;DUV6@/H>C")8N
M:G=ZZEWDDKWI=U?QTN3N])CM!N,53BV.K&]V W<[YG,FQ
M4*CN_))DO'295]9A,:Y=U-$..PPY7'5+4GONE;]V("VE7:!?,]8GOOK#7VSM
M:$";KMV<+:JIA]SH0">
J=] JL/KF7
MC*J9&C "^SJ4KX=.-$-?#<5&=?8YL &+Z\(%YNJM/8JCV-K^K6UJK6O:H_M9
MKHI)I#Y:I&"IKNSJL3H6#E)*G1A9JYMYJ%EJFA*IJ+&9KQ?Z>J;C5K52/4>$
MJ<34HC.D%PN;F]^JIAL+I\79K4'+F* :L3\+G$#:E41+M(PY"JWPL4^;8^D(
MI=OIE(
S)F-4_$?^@(B==0_=(R6GNR1]XH8
M4+Q/&N7^O$YH1O_D O[<3\4\@H+$1BM44.,T/PC0-/\L%RU8T(E01B9=4"?]
MP")51FX(BA<)KX#)*F08HK)TT5C1O>VJ%LCC#3<4,ISSL3)]1P@L-KSSGB"K
MF'R;HAFM43G5.'&X@"/HP!R=Q#O5I2(U2AT% @!%&5WR42"8 "2=/4(] $)%
M&28EU!]51C]MTK@#"I;BC&LZ!=8ZAL:3#2\Y""?,4J93M)D*0F(;J#F+M3H\
MQYG
2'SB3+@W#X+$0^5&XMDEO?:J&8XT,LL9ZQX"Y"K5L%+IY=
MWZ1!%',Y7K#4I;@.2:H1A51-9Q.7EVWZXS
"V[L5%.?95#'*:T7VJV54&
ME$<&%5J,*N3:2HF;,T>2Y/.).B83Y5"#:;J6)XW7.0XYTU;@>E6#K%$U
"6;(.
MH:(FES= 87@77?@?U9*)MW$;XL.)F=B)R@%K)4].04$) =.E9L=[B*K@<#
MYX)V@%$BGO>I0=4H<>)C42]&88N%,\I(<9_! 9(SB&^U&&P]%@)'-S'%%8
MXM.&2!(5T*A&^!)P"#%$+#(K?$01U,B*X%<86N!^&C$JP%%/%N?%