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Hawaiian Airlines' Traffic & Load Factor Increase in July
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Hawaiian Holdings' wholly owned subsidiary Hawaiian Airlines reported decent traffic figures for July. Traffic (measured in Revenue Passenger Miles or RPMs) increased 2.2% to 1.58 billion in the month. Available Seat Miles (ASMs) inched up 0.1% to 1.77 billion in the period. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved 190 basis points (bps) to 89.3%. However, passenger count declined 1.9% in the month to approximately 1.1 million.
During the first seven months of 2019, the carrier recorded 2.9% rise in RPMs while ASMs increased 2.2%. As a result, load factor was up 60 bps to 86.6%. However, passenger count slipped 2.1% on a year-to-date basis.
Disappointing Price Performance
Shares of Hawaiian Holdings have shed 2.6% of their value on a year-to-date basis against its industry's growth of 6.5% in the same timeframe.
The below-par price performance is mainly due to the fact that the company is struggling as a result of increased competition in its primary market, Hawaii, following Southwest Airlines’ (LUV - Free Report) entry. The decline in passenger count on a year-to-date basis can be attributed to the increased competition.
Shares of Copa Holdings and Delta have rallied 29% and 9%, respectively in a year’s time.
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This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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Hawaiian Airlines' Traffic & Load Factor Increase in July
Hawaiian Holdings' wholly owned subsidiary Hawaiian Airlines reported decent traffic figures for July. Traffic (measured in Revenue Passenger Miles or RPMs) increased 2.2% to 1.58 billion in the month. Available Seat Miles (ASMs) inched up 0.1% to 1.77 billion in the period. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved 190 basis points (bps) to 89.3%. However, passenger count declined 1.9% in the month to approximately 1.1 million.
During the first seven months of 2019, the carrier recorded 2.9% rise in RPMs while ASMs increased 2.2%. As a result, load factor was up 60 bps to 86.6%. However, passenger count slipped 2.1% on a year-to-date basis.
Disappointing Price Performance
Shares of Hawaiian Holdings have shed 2.6% of their value on a year-to-date basis against its industry's growth of 6.5% in the same timeframe.
The below-par price performance is mainly due to the fact that the company is struggling as a result of increased competition in its primary market, Hawaii, following Southwest Airlines’ (LUV - Free Report) entry. The decline in passenger count on a year-to-date basis can be attributed to the increased competition.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Copa Holdings (CPA - Free Report) and Delta Air Lines (DAL - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Copa Holdings and Delta have rallied 29% and 9%, respectively in a year’s time.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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