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Hawaiian Holdings (HA) Gains on Impressive Traffic Results
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Hawaiian Holdings, Inc. (HA - Free Report) saw a 1.98% increase in its stock price at close of business on Jan 9. The stock price appreciation was driven by the company’s impressive traffic results, which were released earlier in the day. The carrier has transported a record 11 million passengers in the year 2016.
We note that the stock has been performing well over the past few months and has comfortably outperformed the Zacks categorized Transportation-Airline industry over the last six months. The stock has gained more than 30.72% compared with the industry, which has advanced just 29.43% over the same period.
Hawaiian Airlines, Inc. – a subsidiary ofHawaiian Holdings – posted significant rise in air traffic in the month of December. Traffic – measured in revenue passenger miles (RPMs) – came in at 1.34 billion, up 7.5% from 1.24 billion recorded a year ago. On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) inched up 5.4% to 1.59 billion. Moreover, load factor or percentage of seats filled by passengers increased to 84.1% from 82.5% in Dec 2015. The load factor increase was due to traffic growth outpacing capacity expansion for the month.
In 2016, Hawaiian Airlines witnessed 7.1% rise in RPMs to 15.49 billion and 3.7% growth in ASMs to 18.38 billion, both on a year-over-year basis. Load factor increased by 270 basis points year over year to 84.3%. Notably, the company posted a record passenger count for 2016, having served 11.05 million passengers. This marks a 3.5% increase from the prior year.
The company has seen continuous passenger growth over the past 12 years. Hawaiian Airlines remains focused on customer service and has introduced several features like Premier Cabins, additional Extra Comfort seating and Bid Up – a first-class auction upgrade service.
Hawaiian Holdings faces tough competition from peers, such as JetBlue Airways Co. (JBLU - Free Report) , Southwest Airlines Co. (LUV - Free Report) and SkyWest Airlines (SKYW - Free Report) .
Fourth-Quarter Guidance Update
Hawaiian Airlines expects certain factors to impact its fourth-quarter results. The company anticipates a non-cash loss of $5 million in non-operating expenses due to translation of its foreign currency-based bank accounts. The company also expects to incur an additional financial charge of around $21 million related to third-party maintenance contract for its Boeing 767 aircraft.
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Hawaiian Holdings (HA) Gains on Impressive Traffic Results
Hawaiian Holdings, Inc. (HA - Free Report) saw a 1.98% increase in its stock price at close of business on Jan 9. The stock price appreciation was driven by the company’s impressive traffic results, which were released earlier in the day. The carrier has transported a record 11 million passengers in the year 2016.
We note that the stock has been performing well over the past few months and has comfortably outperformed the Zacks categorized Transportation-Airline industry over the last six months. The stock has gained more than 30.72% compared with the industry, which has advanced just 29.43% over the same period.
Hawaiian Airlines, Inc. – a subsidiary ofHawaiian Holdings – posted significant rise in air traffic in the month of December. Traffic – measured in revenue passenger miles (RPMs) – came in at 1.34 billion, up 7.5% from 1.24 billion recorded a year ago. On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) inched up 5.4% to 1.59 billion. Moreover, load factor or percentage of seats filled by passengers increased to 84.1% from 82.5% in Dec 2015. The load factor increase was due to traffic growth outpacing capacity expansion for the month.
In 2016, Hawaiian Airlines witnessed 7.1% rise in RPMs to 15.49 billion and 3.7% growth in ASMs to 18.38 billion, both on a year-over-year basis. Load factor increased by 270 basis points year over year to 84.3%. Notably, the company posted a record passenger count for 2016, having served 11.05 million passengers. This marks a 3.5% increase from the prior year.
The company has seen continuous passenger growth over the past 12 years. Hawaiian Airlines remains focused on customer service and has introduced several features like Premier Cabins, additional Extra Comfort seating and Bid Up – a first-class auction upgrade service.
Hawaiian Holdings faces tough competition from peers, such as JetBlue Airways Co. (JBLU - Free Report) , Southwest Airlines Co. (LUV - Free Report) and SkyWest Airlines (SKYW - Free Report) .
Fourth-Quarter Guidance Update
Hawaiian Airlines expects certain factors to impact its fourth-quarter results. The company anticipates a non-cash loss of $5 million in non-operating expenses due to translation of its foreign currency-based bank accounts. The company also expects to incur an additional financial charge of around $21 million related to third-party maintenance contract for its Boeing 767 aircraft.
Zacks Rank
Hawaiian Holdings currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank 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 >>