Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary, Hawaiian Airlines, reported traffic figures for May. Traffic (measured in Revenue Passenger Miles or RPMs) increased 5.8% to around 1.53 billion.
Available Seat Miles (ASMs) also climbed 4.1% to 1.75 billion in the month. Load factor (percentage of seats filled by passengers) improved 140 basis points (bps) to 87.3% as traffic growth outpaced capacity expansion.
In the first five months of the year, Hawaiian Airlines witnessed a 3.4% rise in RPMs to 7.09 billion. Also, ASMs rose 3.2% to 8.3 billion. As a result, load factor inched up 20 bps to 85.5%. However, passenger count dipped 1.8% to 4.78 billion.
The encouraging traffic report bears evidence of the carrier’s strong travel demand. To cater to this growing demand, the airline has been making consistent efforts to expand its network. To this end, last month, the carrier received Department of Transportation’s tentative approval to start a new flight connecting Honolulu and Haneda Airport. Notably, the carrier already has a substantial presence in Tokyo.
Apart from this Zacks Rank #3 (Hold) company, other U.S. carriers like American Airlines (AAL - Free Report) , Delta Air Lines (DAL - Free Report) and United Continental Holdings (UAL - Free Report) have also been granted a preliminary approval to add flights to Tokyo’s Haneda Airport. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While Delta has been granted an approval to conduct flights from Atlanta, Seattle, Detroit, Portland and Honolulu to Haneda Airport, American Airlines has received a provisional approval to launch daily flights connecting Haneda Airport with Dallas Fort Worth in addition to a second daily flight to Los Angeles International Airport. Meanwhile, United Continental was tentatively awarded four slots.
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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.
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Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary, Hawaiian Airlines, reported traffic figures for May. Traffic (measured in Revenue Passenger Miles or RPMs) increased 5.8% to around 1.53 billion.
Available Seat Miles (ASMs) also climbed 4.1% to 1.75 billion in the month. Load factor (percentage of seats filled by passengers) improved 140 basis points (bps) to 87.3% as traffic growth outpaced capacity expansion.
In the first five months of the year, Hawaiian Airlines witnessed a 3.4% rise in RPMs to 7.09 billion. Also, ASMs rose 3.2% to 8.3 billion. As a result, load factor inched up 20 bps to 85.5%. However, passenger count dipped 1.8% to 4.78 billion.
The encouraging traffic report bears evidence of the carrier’s strong travel demand. To cater to this growing demand, the airline has been making consistent efforts to expand its network. To this end, last month, the carrier received Department of Transportation’s tentative approval to start a new flight connecting Honolulu and Haneda Airport. Notably, the carrier already has a substantial presence in Tokyo.
Apart from this Zacks Rank #3 (Hold) company, other U.S. carriers like American Airlines (AAL - Free Report) , Delta Air Lines (DAL - Free Report) and United Continental Holdings (UAL - Free Report) have also been granted a preliminary approval to add flights to Tokyo’s Haneda Airport. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While Delta has been granted an approval to conduct flights from Atlanta, Seattle, Detroit, Portland and Honolulu to Haneda Airport, American Airlines has received a provisional approval to launch daily flights connecting Haneda Airport with Dallas Fort Worth in addition to a second daily flight to Los Angeles International Airport. Meanwhile, United Continental was tentatively awarded four slots.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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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