Tag Archives: 1217

Alitalia to add Milan Linate-Copenhagen service

Alitalia (3rd) (Rome) will introduce the Milan (Linate) – Copenhagen route on March 30. The new route will initially operate three days a week with Airbus A320 aircraft according to Airline Route.

Copyright Photo: Bernardo Andrade/AirlinersGallery.com. Airbus A320-214 EI-IKU (msn 1217) climbs away from the runway at Barcelona.

Alitalia aircraft slide show:

 

Hawaiian signs a MOU for six new Airbus A330-800neo aircraft, reports 2Q GAAP net income of $27.3 million

Hawaiian Airlines (Honolulu) today announced the signing of a Memorandum of Understanding (MOU) with Airbus to acquire six new Airbus A330-800neo aircraft starting in 2019, with rights to purchase an additional six aircraft as part of the carrier’s vision to serve farther nonstop destinations from Hawai’i.

Hawaiian A330-800neo (01)(Flt)(Hawaiian)(LRW)

Image: Airbus.

The order replaces Hawaiian Airline’s existing order for six Airbus A350XWB-800 aircraft, which were due for delivery from 2017. Hawaiian Airline’s overall capital commitments will decrease in absolute terms and will be pushed further into the future. For the period through the end of 2018, this amounts to $500 million. Terms of the agreement were not disclosed, but the aircraft have a total list-price value of approximately $2.9 billion if all of the purchase rights are exercised.

“The A330-800neo’s fuel efficiency, additional range and commonality with our existing A330 fleet makes the A330-800neo an elegant solution to our need for growth aircraft toward the end of this decade,” said Mark Dunkerley, Hawaiian Airlines president and chief executive officer.

The A330-800neo wide-body is similar in size to Hawaiian Airline’s A330-200 which seats 294 passengers in a two class configuration (First and Coach), and will incorporate aerodynamic enhancements and new cabin features. The new aircraft will have up to a 400-nautical mile increase in range and reduced fuel consumption by 14 percent per seat with the latest generation Rolls-Royce Trent 7000 engines.

Hawaiian Airlines currently operates a fleet of 50 aircraft, comprised of 29 wide-body, long-haul aircraft (294-seat A330-200 aircraft and 252 to 264-seat Boeing 767-300 aircraft), 18 narrow-body 118 to 123-seat Boeing 717-200 aircraft and three 48-seat ATR 42-500 for Neighbor Island flights.

Hawaiian Airline’s existing orders include an additional four new A330-200s for delivery by 2015 and 16 narrow-body A321neo aircraft starting in 2017.

On the financial side, the company issued this statement for the second quarter:

Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, Inc., today reported its financial results for the second quarter of 2014.

GAAP net income in the second quarter of $27.3 million or $0.43 per diluted share.

Adjusted net income, reflecting economic fuel expense, in the second quarter of $22.4 million or $0.35 per diluted share, an increase of $9.7 million or $0.11 cents per diluted share year-over-year.
Passenger revenue per available seat mile (PRASM) increase of 4.1% and operating revenue per available seat mile (RASM) increase of 6.7%.

Unrestricted cash, cash equivalents and short-term investments of $564 million.

“The same trajectory of substantially improving financial performance was evident in the second quarter as it has been over the last few quarters,” said Mark Dunkerley, Hawaiian Airlines president and chief executive officer. “Strong demand across our geographies, good macro-economic conditions, stable fuel prices and good cost control inside the business all played their part. Absent changes to the environment or competitor behavior, our prospects in the back half of the year look similar. As ever, we continue to build the business with new routes, this summer featuring our first flights from North America to Kaua’i and the island of Hawai’i, and a host of customer improvements including the roll out of our extra comfort economy section of the aircraft. Our wonderful employees continue to deliver the level of service on the ground and in the air that set the standard for others to aspire to. Without their dedication, none of this would be possible.”

Liquidity and Capital Resources

As of June 30, 2014 the Company had:

Unrestricted cash, cash equivalents and short-term investments of $564 million.

Available borrowing capacity of $69.4 million under Hawaiian’s Revolving Credit Facility.

Outstanding debt and capital lease obligations of approximately $1,071 million consisting of the following:

$708 million outstanding under secured loan agreements to finance a portion of the purchase price for eleven Airbus A330-200 aircraft.

$146 million outstanding under secured loan agreements to finance a portion of the purchase price for 15 Boeing 717-200 aircraft.

$106 million in capital lease obligations to finance the acquisition of an Airbus A330-200, two Boeing 717-200 aircraft and aircraft-related equipment.

$32 million outstanding under floating rate notes for two Boeing 767-300 ER aircraft.
$79 million of outstanding Convertible Senior Notes.

Top Copyright Photo: Jay Selman/AirlinersGallery.com. The new Airbus A330-800neo aircraft will supplement the current Airbus A330-200s and allow the airline to finally retire the older Boeing 767-300 ERs. Airbus A330-243 N383HA (msn 1217) prepares to land in New York (JFK).

Hawaiian: AG Slide Show