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Hawaiian reports US$37 million Q1 profit, expects A321neo in October
April 28th 2017
Honolulu-headquartered Hawaiian Airlines’ first quarter net profit slipped 28% year-on-year to US$37 million amid higher fuel and staff costs. Read More »
Operating revenue for the quarter through to March 31 grew 11.4% to US$614 million, but costs increased 20.4 percent to US$546.9 million.
The Pacific Islands airline carried 2.7 million passengers during the first quarter, a 2.2% improvement on the corresponding year-ago period, as RPMs expanded 7.2%, outpacing ASM growth of 3.5%. This resulted in a 4% yield improvement to US$ 14.16 cents per passenger and 2.9% better loads for an average load factor of 84%.
“The year has started extremely well. Strong demand coupled with benign industry capacity growth in our geographies have given us a robust operating environment sufficient to more than offset the impact of the rising price of fuel,” said Hawaiian CEO, Mark Dunkerley.
For the full year, Hawaiian raised its guidance for both capacity and jet fuel consumption, citing "planned increases in flying and higher-than-expected payload increases from cargo and passengers," it said. Dunkerley and his executives expect ASMs to grow 2%-5% for the full year and jet fuel consumption to increase 4.5%-7.5%.
Hawaiian said its first A321neo would be delivered in October, narrowed down from previous guidance stating the new jet would join its fleet in the fourth quarter. As such, the neo will join Hawaiian’s fleet approximately two months later than planned but still just in time for the carrier’s peak season traffic.
The carrier has ordered 16 A321neos. It sees the neo as a game changer for its Hawaii-U.S. West Coast services currently operated largely by fuel-guzzling B767s.
Hawaiian also has outstanding orders for an additional A330-200, as well as six A330neo from 2019.
