Hawaiian Airlines' January Traffic Up But Load Factor Down

Zacks Investment Research | Feb 10, 2020 11:17PM ET

Hawaiian Holdings, Inc.’s

(NASDAQ:HA)

wholly owned subsidiary Hawaiian Airlines reported traffic figures for January. Traffic (measured in Revenue Passenger Miles or RPMs) increased 6.6% to 1.53 billion in the month. Available Seat Miles (ASMs) climbed 7.5% to 1.83 billion in the period. With capacity expansion exceeding traffic growth, load factor (percentage of seats filled by passengers) deteriorated 70 basis points (bps) to 83.6%. The carrier transported 963,053 passengers in January, up 0.5% year over year.

With the earnings season on, let’s shed some light on the airline’s recently released fourth-quarter earnings report. The carrier’s quarterly earnings (excluding 8 cents from non-recurring items) of 99 cents per share outpaced the Zacks Consensus Estimate of 87 cents. However, the bottom line dipped 1% year over year. Although quarterly revenues of $708.1 million missed the Zacks Consensus Estimate of $709.3 million, the same inched up 1.5% year over year.

Passenger revenues accounting for bulk (91.6%) of the top line increased 1.6% year over year. Meanwhile, with pressures related to average fares in the carrier’s domestic markets, operating revenue per available seat mile (RASM: a key measure of unit revenues) slid 2.1% year over year. (Read more: Zacks Investment Research

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Written By: Zacks Investment Research

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