Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary, Hawaiian Airlines, reported traffic figures for April. Traffic (measured in Revenue Passenger Miles or RPMs) increased 7.1% to around 1.39 billion in April.
Available Seat Miles (ASMs) also climbed 7.3% to 1.63 billion in the month. However, load factor (percentage of seats filled by passengers) declined 10 basis points (bps) to 85.2% as capacity expansion outweighed traffic growth.
In the first four months of 2018, the carrier registered a 6.4% rise in RPMs while ASMs rose 5.3%. As a result, load factor improved 90 bps. Additionally, passenger count increased 6.8% while the same rose 6.3% in April.
The company was also in news last week when its shares declined significantly following fears of competition intensifying in Hawaii as Southwest Airlines Co. (LUV - Free Report) announced a detailed plan to offer flights connecting Hawaii with California. As Hawaiian Holdings draws a bulk of its revenues from inter-island flights, it is only natural that the stock price of this Honolulu County, HI-based company was significantly hurt due to worries over a likely drop in the company’s market share.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold). Two better-ranked stocks in the airline space are SkyWest, Inc. (SKYW - Free Report) and Cathay Pacific Airways Ltd. (CPCAY - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), Cathay Pacific Airways carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest and Cathay Pacific Airways have rallied more than 54% and 13%, respectively, in a year.
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Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary, Hawaiian Airlines, reported traffic figures for April. Traffic (measured in Revenue Passenger Miles or RPMs) increased 7.1% to around 1.39 billion in April.
Available Seat Miles (ASMs) also climbed 7.3% to 1.63 billion in the month. However, load factor (percentage of seats filled by passengers) declined 10 basis points (bps) to 85.2% as capacity expansion outweighed traffic growth.
In the first four months of 2018, the carrier registered a 6.4% rise in RPMs while ASMs rose 5.3%. As a result, load factor improved 90 bps. Additionally, passenger count increased 6.8% while the same rose 6.3% in April.
The company was also in news last week when its shares declined significantly following fears of competition intensifying in Hawaii as Southwest Airlines Co. (LUV - Free Report) announced a detailed plan to offer flights connecting Hawaii with California. As Hawaiian Holdings draws a bulk of its revenues from inter-island flights, it is only natural that the stock price of this Honolulu County, HI-based company was significantly hurt due to worries over a likely drop in the company’s market share.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold). Two better-ranked stocks in the airline space are SkyWest, Inc. (SKYW - Free Report) and Cathay Pacific Airways Ltd. (CPCAY - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), Cathay Pacific Airways carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest and Cathay Pacific Airways have rallied more than 54% and 13%, respectively, in a year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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