Monthly Archives: April 2019

Hawaiian Holdings reports 2019 first quarter financial results

"Humu"

Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, Inc., today reported its financial results for the first quarter of 2019.

First Quarter 2019 – Key Financial Metrics

GAAP

YoY Change

Adjusted

YoY Change

Net Income

$36.4M

+$7.8M

$32.6M

$(23.3)M

Diluted EPS

$0.75

+$0.19

$0.67

$(0.42)

Pre-tax Margin

7.5%

+1.9 pts.

6.7%

(4.3) pts.

 

“Hawaiian is off to a solid start in 2019,” said Peter Ingram, Hawaiian Airlines president and CEO. “We made important progress against our 2019 priorities in the first quarter, advancing a host of initiatives that will bring lasting value to our guests, our team, and our shareholders. Executing the winning formula we have crafted in the course of 90 years of serving Hawai’i with the best mix of service, products, and aircraft positions us well to continue to succeed in the face of an evolving competitive environment. We look forward to the rest of 2019 and demonstrating, yet again, that Hawaiian is the carrier of choice to Hawai’i.”

Statistical information, as well as a reconciliation of the non-GAAP financial measures, can be found in the accompanying tables.

Shareholder Returns, Liquidity and Capital Resources

The Company returned $16.9 million to shareholders in the first quarter through share repurchases of $11.1 million and a dividend payment of $5.8 million.

On April 19, 2019 the Company’s Board of Directors declared a quarterly cash dividend of 12 cents per share to be paid on May 31, 2019 to all shareholders of record as of May 17, 2019.

As of March 31, 2019, the Company had:

  • Unrestricted cash, cash equivalents and short-term investments of $532 million
  • Outstanding debt and capital lease obligations of $613 million

First Quarter 2019 Highlights

Awards and Recognition

  • Ranked #1 nationally for on-time performance for the 15th consecutive year in 2018 as reported in the U.S. Department of Transportation (DOT) Air Travel Consumer Report.

Partnerships

  • Received notification from the U.S. Department of Transportation (DOT) that its antitrust immunity application with Japan Airlines was deemed substantially completed.
  • Announced a partnership with Carbon Lighthouse to launch a two-month pilot program focused on reducing energy waste at its Airport Center building.
  • In April, announced an expanded codeshare agreement with Virgin Australia that offers travelers in more than a dozen Australian and New Zealand cities a broader and more convenient network of flights to Hawai’i.

Products and Services

  • In April, selected partners for development of its Boeing 787-9 Dreamliner seats. Adient Aerospace and Collins Aerospace will design and supply seats for the Company’s new flagship aircraft scheduled to enter its transpacific route network in 2021.
  • Launched a brand new Hawaiian Airlines mobile app with features designed to improve guests’ day-of-travel experience.

Routes and Network

  • In April, began service on its second East Coast route with five-times-a-week non-stop service between Boston’s Logan International Airport (BOS) and Honolulu’s Daniel K. Inouye International Airport (HNL).
  • Expanded its service to Northern California with:
    • the launch of new daily non-stop service between Maui’s Kahului Airport (OGG) and Sacramento International Airport (SMF); and
    • the announcement of new daily non-stop service between San FranciscoInternational Airport (SFO) and Honolulu (HNL) using new Airbus A321neo aircraft beginning October 2019, augmenting daily flights between San Francisco(SFO) and both Honolulu (HNL) and Maui (OGG).
  • Submitted its application to the U.S. Department of Transportation (DOT) for three additional daily flights between Honolulu (HNL) and Tokyo Haneda Airport (HND).

Fleet

  • Took delivery of one Airbus A321neo aircraft in March, increasing the size of its A321neo fleet to twelve aircraft.
  • Retired the last of its Boeing 767-300 aircraft in January.

Top Copyright Photo (all others by the airline): Hawaiian Airlines Airbus A330-243 N375HA (msn 1606) SEA (Michael B. Ing). Image: 946279.

Hawaiian aircraft slide show:

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JetSuiteX announces the launch of Seattle service beginning July 1

JetSuiteX Embraer ERJ 135LR N254JX (msn 145275) SNA (Michael B. Ing). Image: 946277.

JetSuiteX has announced that it will launch service to Seattle’s King County International Airport-Boeing Field (BFI) from Oakland beginning on July 1, 2019.

At launch, JetSuiteX will offer up to three round-trip flights a day between Oakland and Seattle daily. Ticket prices start at just $99 one-way.

The addition of service to Seattle extends JetSuiteX’s route network to six destinations including Orange County (SNA), Las Vegas (LAS), Concord/East Bay (CCR), Oakland (OAK) and Burbank (BUR), as well as Coachella Valley/Thermal (TRM) and Mammoth (MMH) seasonally.

JetSuiteX saves its customers up to an hour on each end of the trip by flying out of private terminals on spacious, comfortable 30-seat Embraer ERJ 135 aircraft while bypassing the long lines, crowds, and hassles associated with major airports. With JetSuiteX, passengers arrive at a private terminal just 20 minutes before their flight and can enjoy complimentary snacks and beverages (including cocktails while in-flight), 36 inches of leg room and up to three pieces of complimentary checked baggage.

Top Copyright Photo (all others by the company): JetSuiteX Embraer ERJ 135LR N254JX (msn 145275) SNA (Michael B. Ing). Image: 946277.

JetSuiteX aircraft slide show:

 

Boeing to host its next shareholder meeting in Chicago on April 29

Never has so many issues been facing Boeing as a company in its history. Now its shareholders can express their views and vote on the performance of its management.

Boeing has released the details of the meeting:

April 29, 2019 09:00 AM Central Time

 

The Field Museum, The James Simpson Theatre, 1400 South Lake Shore Drive, Chicago, Illinois 60605-2496

Meeting Admission Policy

All holders of Boeing shares as of the record date are encouraged to attend the annual meeting. In order to ensure the safety of all attendees, we have implemented the following security and admission policies.

  • Eligible Attendees. Attendance is limited to registered and beneficial Boeing shareholders as of the record date and to one immediate family member accompanying each such shareholder.
  • Admission Procedures. In order to be admitted to the meeting, you and your guest must each present both an admission ticket and valid government-issued photo identification, such as a driver’s license or passport. You must register on or prior to April 19, 2019 in order to obtain an admission ticket.
  • Obtaining an Admission Ticket. In order to obtain an admission ticket, please access “Register for Meeting” at www.proxyvote.com and follow the instructions provided. If you do not have internet access, you can register by calling 1-844-318-0137. You will need the 16-digit voting control number found on your proxy card, email, notice of internet availability of proxy materials or voting instruction form. Seating at the annual meeting is limited, and requests for tickets will be processed in the order in which they are received. In any event, you must register on or prior to April 19, 2019 if you wish to attend the annual meeting.
  • Additional Security Measures. Upon entering the meeting facility, you will be required to proceed through a security checkpoint. In addition, cameras, recording equipment, electronic devices, large bags, briefcases, and packages will not be permitted in the annual meeting

Place

The Field Museum, The James Simpson Theatre, 1400 South Lake Shore Drive, Chicago, Illinois 60605-2496. Please use the West entrance to the museum. Directions are included on the last page of our proxy statement. Public transportation options are available via www.fieldmuseum.org or by calling the Regional Transportation Authority at (312) 836-7000.

Agenda

  1. Elect the 13 directors named in the proxy statement;
  2. Approve, on an advisory basis, named executive officer compensation;
  3. Ratify the appointment of our independent auditor for 2019; and
  4. Transact such other business, including certain shareholder proposals, as may properly come before the meeting and any postponement or adjournment thereof.

Record Date

February 28, 2019

Voting by Proxy

Your vote is important. Please vote by internet, telephone or mail as soon as possible to ensure your vote is recorded promptly whether or not you plan to attend the annual meeting.

Click below to vote your shares now:

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Reuters: PIRC advises against re-appointing Muilenburg as Boeing chairman and CEO

From Reuters:

Pensions and Investment Research Consultants (PIRC), which advises pension schemes and other investors, recommended on Tuesday that investors in Boeing oppose the re-election of Dennis A. Muilenburg as chairman and chief executive officer.

“There should be a clear division of responsibilities at the head of the company between the running of the board and the executive responsibility for the running of the company’s business,” PIRC said.

“No one individual should have unfettered powers of decision,” PIRC said, adding that “combining the two roles in one person represents a concentration of power that is potentially detrimental to board balance, effective debate, and board appraisal.”

The world’s largest aircraft maker has been battling its biggest crisis in years after its 737 MAX model was grounded worldwide in March following two fatal crashes.

ExpressJet Airlines, a United Express carrier, introduces flexible-option rotor transition program

ExpressJet Airlines, a United Express carrier, today introduced a flexible-option Rotor Transition Program that provides financial assistance for rotor pilots to gain the fixed-wing certifications necessary to begin a flying career with ExpressJet. The program provides up to $22,000 in assistance and the flexibility for participants to choose where they complete their certifications.

“The ExpressJet Rotor Transition Program offers the ultimate in flexibility for rotor pilots to complete the final steps to become a commercial airline pilot,” said Vice President of Flight Operations Greg Wooley. “We partner with the participant to develop their path to ExpressJet – whether it’s through a local flight school, on a personal aircraft or with a flying club.”

Pilots who enlist in the program are provided with up to six months to earn their certifications through the qualifying path of the pilot’s choice. After meeting all hiring requirements, participants are offered a first officer position with ExpressJet. Additionally, ExpressJet covers the cost of necessary ATP CTP courses.

In 2019, ExpressJet will hire more than 600 new pilots as it grows with new Embraer E175 aircraft. Pilots who sign on with ExpressJet can expect a quick selection process, an immediate class date, and to bid for flying within three months.

More information about the ExpressJet Rotor Transition Program is available at expressjet.com/rotor.