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Hawaiian Airlines' Traffic and Load Factor Rise in February
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Hawaiian Airlines, the wholly owned subsidiary of Hawaiian Holdings (HA - Free Report) , saw a 4.8% rise in traffic (measured in Revenue Passenger Miles or RPMs) to around 1.14 billion in Feb 2017 from 1.09 billion reported a year ago. Meanwhile, Available Seat Miles (ASMs) were flat at 1.38 billion. Load factor (the percentage of seats filled by passengers) increased 380 basis points (bps) to 82.9% in 2017. This was because of the rise in air traffic while capacity remained at the same level.
On a year-to-date basis, Hawaiian Airlines witnessed a 7.3% year-over-year rise in RPMs to 2.5 billion. Also, ASMs rose 3% to 2.9 billion. As a result, the load factor increased 340 bps to 83.5%. Additionally, passenger count in the first two months of 2017 rose to 1.76 billion, compared with 1.72 billion in 2016.
We remind investors that Hawaiian Holdings had reported mixed results in the fourth quarter of 2016 wherein revenues surpassed estimates while earnings lagged the same. Operating revenue per available seat mile (a key measure of unit revenues) in the quarter climbed 6% year over year.
Unit revenue issues, which have been hurting airlines to a considerable extent, seem to be easing off. We note that apart from Hawaiian Holdings, carriers like American Airlines Group (AAL - Free Report) and Alaska Air Group (ALK - Free Report) have displayed growth with respect to unit revenues in the fourth quarter of 2016. Meanwhile, airlines like Delta Air Lines (DAL - Free Report) are also looking to return to positive unit revenues in 2017.
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Hawaiian Airlines' Traffic and Load Factor Rise in February
Hawaiian Airlines, the wholly owned subsidiary of Hawaiian Holdings (HA - Free Report) , saw a 4.8% rise in traffic (measured in Revenue Passenger Miles or RPMs) to around 1.14 billion in Feb 2017 from 1.09 billion reported a year ago. Meanwhile, Available Seat Miles (ASMs) were flat at 1.38 billion. Load factor (the percentage of seats filled by passengers) increased 380 basis points (bps) to 82.9% in 2017. This was because of the rise in air traffic while capacity remained at the same level.
On a year-to-date basis, Hawaiian Airlines witnessed a 7.3% year-over-year rise in RPMs to 2.5 billion. Also, ASMs rose 3% to 2.9 billion. As a result, the load factor increased 340 bps to 83.5%. Additionally, passenger count in the first two months of 2017 rose to 1.76 billion, compared with 1.72 billion in 2016.
We remind investors that Hawaiian Holdings had reported mixed results in the fourth quarter of 2016 wherein revenues surpassed estimates while earnings lagged the same. Operating revenue per available seat mile (a key measure of unit revenues) in the quarter climbed 6% year over year.
Unit revenue issues, which have been hurting airlines to a considerable extent, seem to be easing off. We note that apart from Hawaiian Holdings, carriers like American Airlines Group (AAL - Free Report) and Alaska Air Group (ALK - Free Report) have displayed growth with respect to unit revenues in the fourth quarter of 2016. Meanwhile, airlines like Delta Air Lines (DAL - Free Report) are also looking to return to positive unit revenues in 2017.
Zacks Rank
Hawaiian Holdings currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>