Tag Archives: Hawaiian Airlines

Hawaiian Holdings reports 2018 fourth quarter and full year financial results

Named "Nahiku"

Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, Inc., reported its financial results for the fourth quarter and full year 2018.

Fourth Quarter 2018 – Key Financial Metrics

GAAP

YoY Change

Adjusted

YoY Change

Net Income

$31.6M

$(116.8)M

$49.2M

$(5.7)M

Diluted EPS

$0.64

(2.20)

$1.00

$(0.05)

Pre-tax Margin

6.0%

(9.5) pts.

9.3%

(3.8) pts.

Full Year 2018 – Key Financial Metrics

GAAP

YoY Change

Adjusted

YoY Change

Net Income

$233.2M

$(97.4)M

$274.8M

$(14.1)M

Diluted EPS

$4.62

$(1.57)

$5.44

+$0.03

Pre-tax Margin

10.6%

(4.0) pts.

12.6%

(4.4) pts.

 

“Hawaiian delivered another year of strong financial results in 2018, with an adjusted pre-tax margin in the top tier of industry performance,” said Peter Ingram, Hawaiian Airlines president and CEO.  “Undaunted by higher fuel prices, elevated competitive capacity, aircraft delivery delays and severe weather events, our employees once again demonstrated why Hawaiian is the carrier of choice to Hawai’i.

“2019 will be an important year for Hawaiian.  Successfully dealing with all of 2018’s twists and turns gives me tremendous confidence in our ability to sustain and build upon our achievements in the years ahead.”

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

Liquidity and Capital Resources

The Company returned $126.7 million to shareholders in 2018 through $102.5 million in share repurchases and $24.2 million in dividends.  In December 2018, the Company also announced a new $100 million share repurchase program in effect through December 31, 2020.

On January 25, 2019 the Company’s Board of Directors declared a quarterly cash dividend of 12 cents per share to be paid on February 22, 2019 to all shareholders of record as of February 8, 2019.

As of December 31, 2018 the Company had:

  • Unrestricted cash, cash equivalents and short-term investments of $501 million.
  • Outstanding debt and capital lease obligations of $710 million.

2018 Highlights

Operational

  • Carried a record 11.8 million passengers in 2018, a 2.9 percent increase over the previous year.
  • Announced it will open a technology center in Phoenix, Arizona, in the first quarter of 2019 to strengthen its IT capabilities.

New routes and increased frequencies

  • North America
    • Expanded its routes to the Pacific Northwest with the launch of new daily nonstop service between Portland International Airport (PDX) and Maui’s Kahului Airport (OGG).
    • Expanded its routes to Southern California with the launch of new daily nonstop flights between Long Beach Airport (LGB) and Honolulu’s Daniel K. Inouye International Airport (HNL), and new daily nonstop flights between San DiegoInternational Airport (SAN) and Maui (OGG).
    • Extended seasonal nonstop service to year-round non-stop service between Los Angeles International Airport (LAX) and Ellison Onizuka Kona International Airport (KOA).
    • Announced expanded service to Northern California with new daily nonstop flights between Sacramento International Airport (SMF) and Maui (OGG) beginning April 2019.
    • Announced its second East Coast route with new five-times-a-week nonstop service between Boston’s Logan International Airport (BOS) and Honolulu (HNL) beginning April 2019.
  • International
    • Expanded seasonal winter service to international destinations, including:
      • increasing nonstop service between Seoul’s Incheon International Airport (ICN) and Honolulu (HNL) to daily flights between mid-January and early-February 2019; and
      • increasing nonstop service between Sapporo’s New Chitose Airport (CTS) and Honolulu (HNL) with five weekly flights during the first half of February 2019.

Commercial

  • Expanded its cargo services with the launch of All-Cargo Neighbor Island service between Honolulu (HNL), Lihu’e Airport (LIH) and Hilo International Airport (ITO).  The All-Cargo Neighbor Island service, which currently consists of two ATR 72 aircraft, is expected to expand in 2019 with the addition of flights between Honolulu (HNL) and both Maui (OGG) and Kona (KOA).

Product and loyalty

  • Announced the expansion of its Business Class auction upgrade service, Bid Up by Hawaiian Airlines, to include flights operating between Hawai’i and Japan and South Korea, in addition to flights operating between Hawai’i and North America.
  • Extended its partnership with Barclaycard US, Hawaiian’s co-branded credit card partner, under a new agreement through 2024 that includes improved economics for Hawaiian and a refreshed rewards structure for the Hawaiian Airlines World Elite Mastercard and the Hawaiian Airlines Business Mastercard to enable cardmembers to earn more miles faster.

Partnerships

  • Together with Japan Airlines, filed an application with the U.S. Department of Transportation (DOT) and Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) seeking antitrust immunity to create a joint venture that promises significant consumer benefits and the opportunity for service expansion.
  • Enhanced its comprehensive partnership with Japan Airlines with the implementation of reciprocal frequent flyer benefits for HawaiianMiles and JAL Mileage Bank members effective October 2018.  The enhanced program is the second phase of the comprehensive partnership launched in March 2018 with codeshare flights.
  • Announced an expansion of the codeshare agreement with JetBlue that allows travelers from dozens of cities, most of them in the eastern U.S., to easily connect to the Hawaiian Islands via Boston’s Logan International Airport (BOS) starting in April 2019.

Fleet and financing

  • Secured its flagship widebody aircraft of the next decade with the signing of a definitive purchase agreement with Boeing for the purchase of 10 Boeing 787-9 aircraft, including purchase rights for an additional 10 aircraft, to be delivered starting in 2021.
  • Signed a definitive agreement with General Electric for the purchase of GEnx engines to power its Boeing 787-9 fleet.
  • Took delivery of nine Airbus A321neo aircraft, increasing the size of its Airbus A321neo fleet to eleven aircraft.
  • Entered into two Japanese Yen-denominated debt financings, each collateralized by an Airbus A321neo aircraft.
  • Took delivery of an ATR 42 turboprop aircraft in June, increasing the size of its ‘Ohana by Hawaiian passenger turboprop fleet to four aircraft.
  • Increased the size of its secured revolving credit facility from $225 million to $235 millionand extended the term through December 2022.

People

  • Contributed $50 million during the year to its pilots’ pension plan. The plan’s funded status improved from 69.6 percent funded at the end of 2017 to 77.4 percent at the end of 2018.
  • Celebrated the beginning of its 90th year of service in the Hawaiian Islands with a company-matched employee giving campaign that generated $187,000 in donations to non-profit agencies across the State of Hawai’i.  The 90th year fundraiser is in addition to sponsorships and grants the Company provides annually through its Team Kokua program and Hawaiian Airlines Foundation.

Top Copyright Photo (all others by the airline): Hawaiian Airlines Airbus A330-243 N388HA (msn 1310) LAX (Michael B. Ing). Image: 944822.

Hawaiian aircraft slide show:

Route Maps:

Fact Sheet:

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Hawaiian Airlines carries a record 11.8 million passengers in 2018

Hawaiian Airlines Airbus A321-271N WL N212HA (msn 8129) LAX (Michael B. Ing). Image: 943866.

Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc.has announced its system-wide traffic statistics for the month, quarter, and full year ended December 31, 2018.

Hawaiian welcomed a record 11,840,178 guests in 2018, a 2.9 percent increase over the previous year.  The record number of passengers in 2018 marks 14 straight years of growth as Hawaiian continues to expand its network and fleet, providing travelers with more options to fly to, from, and within the Hawaiian Islands than any other carrier.

Hawaiian took delivery of nine A321neo aircraft (top) in 2018, bringing the total size of its A321neo fleet to 11 aircraft.  The A321neo will help the airline build upon its already strong U.S. West Coast presence, including new daily nonstop service to Maui’s Kahului Airport from Portland, Sacramento and San Diego international airports, as well as to Honolulu’s Daniel K. Inouye International Airport from Long Beach.

The airline will also begin new five-times-a-week nonstop service to Honolulu from Boston’s Logan International Airport on April 4.

Top Copyright Photo: Hawaiian Airlines Airbus A321-271N WL N212HA (msn 8129) LAX (Michael B. Ing). Image: 943866.

Hawaiian Airlines aircraft slide show:

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Hawaiian Airlines operates the last Boeing 767 revenue flight

Hawaiian Airlines on Monday, January 7, 2019 operated the last Boeing 767-300 revenue flight.

The pictured N594HA named ‘Ulili, operated flight HA 19 from Sacramento to Honolulu ending an era at the airline.

The airline issued this report:

On January 7, 2019 we bid a fond aloha to the last of our Boeing 767-300ER – the aircraft that propelled Hawaiian Airlines to far-reaching destinations, empowering us to share our authentic hospitality with millions of guests from around the world. The widebody twin-engine jet joined our fleet in 2001, replacing our DC-10s by heralding a new era of aviation engineering at the start of the 21st century.

last Boeing 767 flight + retirement

Hawaiian Airlines hosted a retirement ceremony for the last Boeing 767 in its fleet at the Daniel K. Inouye International Airport (HNL). Employees, executives and the last flight’s pilots and crew members came together on the tarmac for one last aloha.

 

After flying the Pacific skies for over a decade, aircraft tail number N594 – named ‘Ulili after the Wandering Tattler bird – completed its final scheduled commercial flight this afternoon when it arrived at Honolulu’s Daniel K. Inouye International Airport (HNL) from Sacramento International Airport (SMF) at 1:30 p.m. HST. Our agents welcomed the 258 guests and 10 crew members with celebratory lei as they deplaned from our historic HA19.

HA ohana at gate

Our Hawaiian Airlines ‘ohana, including Executive Vice President and Chief Operating Officer Jon Snook and President and CEO Peter Ingram (pictured center), line up to greet on flight HA19 with fresh lei.

 

“The Boeing 767 was instrumental to our transpacific growth, international expansion and success in introducing millions of guests to this special place we call home,” Peter Ingram, president and CEO of Hawaiian Airlines, remarked following a Hawaiian blessing of N594 alongside the pilots and crew of HA19. “Today’s 767 retirement marks another chapter in our ongoing fleet modernization program as we continue to take more deliveries of Airbus A321neos and prepare to welcome the Boeing 787-9 Dreamliner in 2021.”

 

The pilots and flight crew who operated our last Boeing 767 flight today from Sacramento to Honolulu.

 

Over the years, our fleet expanded to a total of 18 Boeing 767 aircraft, which would lead to the launch of 16 new, nonstop routes throughout the Pacific region, including service between Honolulu and Sydney and Brisbane in Australia, Osaka, Tokyo and Sapporo in Japan, and Seoul in South Korea.

767_Oahu

Boeing 767 flying over O‘ahu

 

As Hawaiian entered new markets, its passenger count grew from 5.8 million in 2001 to 8.4 million in 2010, when the airline began introducing another wide-body aircraft type, the Airbus A330, to its fleet. Since 2016, Hawaiian has topped 11 million annual guests.

 

A photo of the three pilots who flew our first scheduled Boeing 767 flight on Nov. 15, 2001, from HNL to SAN.

 

“The Boeing 767 changed the game in the medium widebody market. The airplane enabled Hawaiian to efficiently serve its unique routes and achieve impressive growth over the years,” said Randy Tinseth, vice president of commercial marketing, Boeing. “In 2021, the Boeing 787 Dreamliner brings more range and much greater fuel efficiency. It will again transform Hawaiian’s ability to efficiently and comfortably bring people to and from the beautiful islands of Hawai‘i.”

012011 Incheon Launch

Our flight crew in front of the Boeing 767 before we inaugurated nonstop between Honolulu and Seoul, South Korea in 2011.

Type Retired: January 7, 2019 (flight HA 19 Sacramento - Honolulu with N594HA)

Above Copyright Photo (all others by the airline): Hawaiian Airlines Boeing 767-332 N594HA (msn 23275) LAX (Michael B. Ing). Image: 945232.
Hawaiian aircraft slide show:

Please join us in recognizing the milestones made by the B767-300ER and a warm mahalo for over 17 years of service to our Island home.

Hawaiian and JetBlue expand their codeshare agreement as Hawaiian launches its Boston flight

Hawaiian Airlines Airbus A330-243 N390HA (msn 1389) JFK (Fred Freketic). Image: 944577.

Hawaiian Airlines and JetBlue today announced an expanded codeshare agreement that allows travelers from dozens of cities, most of them in the eastern U.S., to easily connect to the Hawaiian Islands via Boston’s Logan International Airport (BOS) starting in April.

Boston-area JetBlue customers can now purchase tickets on Hawaiian Airlines’ nonstop flight to Honolulu’s Daniel K. Inouye International Airport (HNL) with JetBlue’s ‘B6’ code and earn TrueBlue points when they fly.

Additionally, travelers originating in 26 cities – including Washington, DC (DCA), Pittsburgh (PIT), Philadelphia (PHL), Baltimore (BWI) and Cleveland (CLE), which currently cannot connect to Hawai’i through JetBlue in New York  – can already purchase codeshare tickets that carry Hawaiian’s ‘HA’ code on their JetBlue flights that connect in Boston, and JetBlue’s ‘B6’ code on Hawaiian’s new nonstop flight between Logan and Honolulu. And they can use the ‘B6’ code on convenient Hawaiian flights that connect Honolulu to the entire island chain.  Hawaiian and JetBlue’s guests also will continue to enjoy one-stop check-in and baggage transfers to their final destination, as well as the opportunity to earn and redeem loyalty rewards.

Hawaiian and JetBlue also offer their loyal members the opportunity to earn and redeem points or miles for travel on either carrier. HawaiianMiles members can earn miles on JetBlue-operated flights, while  TrueBlue members can accrue points on Hawaiian-operated flights. Similarly, frequent fliers can redeem their points or miles for travel on either carrier’s network, creating a long list of destinations for each program’s loyal members.

JetBlue flights connecting to and from Boston that are covered by the codeshare agreement are available at the following airports: Atlanta (ATL), Baltimore, Buffalo (BUF), Charlotte (CLT), Charleston(CHS), Chicago (ORD), Cleveland, Detroit (DTW), Fort Lauderdale (FLL), Fort Myers (RSW), Jacksonville(JAX), Minneapolis (MSP), Nashville (BNA), New York (LGA and JFK), Newark (EWR), Orlando (MCO), Palm Beach (PBI), Philadelphia, Pittsburgh, Raleigh-Durham (RDU), Savannah (SAV), Syracuse (SYR), Tampa (TPA)  and Washington, DC both (DCA) and (IAD).

Hawaiian Airlines will begin its five-day-a-week service to Boston on April 4, 2019. Boston is the largest U.S. market without nonstop service to Hawai’i with nearly 500 people flying between eastern New England and the Islands on any given day.

In commemoration of Hawaiian Airlines’ 90th  year of operation, the flight to Boston will be numbered Flight HA90. Starting with the inaugural flight on April 4, HA90 will depart HNL every day but Tuesday and Wednesday at 1:45 p.m. and arrive at BOS the following morning at 6 a.m. Flight HA89 will depart BOS every day but Wednesday and Thursday at 8:55 a.m., except for Friday flights, which will depart at 8 a.m. The flights will arrive in Hawai’i the same day at 2:35 p.m. and the Friday flight will arrive at 1:40 p.m. Both HNL arrival times offer guests ample time to settle into their accommodations and unwind with a Hawaiian sunset, or connect to Kaua’i, Maui or the Island of Hawai’i via the airline’s convenient schedule of some 170 daily interisland flights, all of which will have the JetBlue codeshare.

At 5,095 miles, Hawaiian’s BOS-HNL route becomes the longest regularly scheduled route in the U.S. Guests traveling from the East Coast to Hawai’i will enjoy the roominess and superior comfort of Hawaiian’s 278-seat Airbus A330 widebody aircraft. Incorporating flowing curves evocative of the winds and the ocean, Hawaiian’s spacious first-class cabin features 18 lie-flat leather seats that transform into 180-degree beds at a roomy 20.5 inches wide and 76 inches long. Aligned in a 2-2-2 configuration, the seats are ideally tailored to leisure guests such as couples, families and honeymooners, while offering functionality to the business traveler.  Hawaiian also recently expanded to 68 from 40 the number of Extra Comfort main cabin seats, which offer a generous 36-inch pitch for extra leg room and priority boarding. Guests can upgrade to Extra Comfort seats for $145 each way.

Hawaiian’s Executive Chef Lee Anne Wong, owner of Honolulu’s Koko Head Café, collaborates with Hawai’i’s top chefs to delight guests with two meals served in each direction.

In Boston, JetBlue will soon offer flights to more than 70 nonstop destinations – many more than any other airline – and is the leader in the number of customers carried and total daily departures. JetBlue also serves Boston with premium Mint flights to a half-dozen destinations. With Mint, JetBlue re-imagined “business class” service offered by legacy carriers with lie-flat seating, curated food and amenities, and hospitality-trained inflight crewmembers – offered at an affordable price. JetBlue is on track to reach 200 daily departures at Logan in the coming years.

Top Copyright Photo: Hawaiian Airlines Airbus A330-243 N390HA (msn 1389) JFK (Fred Freketic). Image: 944577.

Hawaiian aircraft slide show:

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Hawaiian Holdings reports 2018 third quarter financial results, down to 5 767s

Hawaiian Airlines Boeing 767-3CB ER WL N588HA (msn 33466) LAX (Ron Monroe). Image: 944044.

Hawaiian Holdings, Inc., parent company of Hawaiian Airlines, Inc., today reported its financial results for the third quarter of 2018.

Third Quarter 2018 – Key Financial Metrics

GAAP

YoY Change

Adjusted

YoY Change

Net Income

$93.5M

+$21.9M

$96.7M

$(3.0)M

Diluted EPS

$1.84

+$0.50

$1.91

+$0.05

Pre-tax Margin

15.4%

(0.6) pts.

15.9%

(6.3) pts.

(PRNewsfoto/Hawaiian Holdings, Inc.)

“Through back-to-back hurricanes in Hawai’i and a typhoon in Japan, my colleagues minimized disruptions to operations, kept our guests safe, and supported community relief efforts all while delivering our authentic Hawaiian hospitality that is unmatched in the industry,” said Peter Ingram, Hawaiian Airlines president and CEO.  “Our healthy financial and operational performance in this eventful quarter once again demonstrated that the Hawaiian team is second to none.”

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 $37.3 million to shareholders in the third quarter through $31.2 million in shares repurchased and $6.1 million in dividends paid.

On October 19, 2018 the Company’s Board of Directors declared a quarterly cash dividend of 12 cents per share to be paid on November 30, 2018 to all shareholders of record as of November 16, 2018.

As of September 30, 2018, the Company had:

  • Unrestricted cash, cash equivalents and short-term investments of $591 million
  • Outstanding debt and capital lease obligations of $718 million

Third Quarter 2018 Highlights

Commercial

  • Expanded its cargo services with the launch of its All-Cargo Neighbor Island service between Honolulu’s Daniel K. Inouye International Airport (HNL), Lihu’e Airport (LIH) and Hilo International Airport (ITO).  The All-Cargo service, which currently consists of two ATR-72 aircraft, is expected to expand in 2019 with the addition of flights between Honolulu (HNL) and Maui’s Kahului Airport (OGG) and Hawai’i Island’s Kona International Airport (KOA).

Operational

  • Carried more than 3 million guests across its network, a record for the third quarter.

Partnerships

  • Enhanced its comprehensive partnership with Japan Airlines with the implementation of reciprocal frequent flyer benefits for HawaiianMiles and JAL Mileage Bank members effective October 2018.  The enhanced program is the second phase of the comprehensive partnership launched in March 2018 with codeshare flights.

New Routes

  • Announced its second East Coast route with new five-times-a-week non-stop service between Boston’s Logan International Airport (BOS) and Honolulu (HNL) beginning April 2019.

Copyright Photo: Michael Carter.

Fleet and Financing

  • Took delivery of three Airbus A321neo aircraft between July and August, increasing the size of its A321neo fleet to nine aircraft.
  • Retired two of its Boeing 767 aircraft in the third quarter as part of the planned exit from its 767 fleet.  Retired an additional 767 aircraft subsequent to quarter end, decreasing the size of its 767 fleet to five aircraft.
  • Completed a sale-leaseback transaction for one of its Airbus A330-200 aircraft.
  • Subsequent to quarter end, signed a definitive agreement with General Electric for the acquisition of GEnx engines to power its Boeing 787-9 fleet to be delivered starting in 2021.

Fourth Quarter and Full Year 2018 Outlook

The table below summarizes the Company’s expectations for the fourth quarter and full year ending December 31, 2018 expressed as an expected percentage change compared to the recast results for the quarter and year ended December 31, 2017, as applicable.

As a result of discretionary contributions to defined benefit and other postretirement plans made by the Company in the third quarter, and the resulting impact of the Tax Cuts and Jobs Act, the Company expects its effective tax rate for the full year ending December 31, 2018 to be in the range of 21 percent to 23 percent.

Top Copyright Photo: Hawaiian moves one step closer to the retirement of the Boeing 767-300 fleet, now down to five aircraft. Hawaiian Airlines Boeing 767-3CB ER WL N588HA (msn 33466) LAX (Ron Monroe). Image: 944044.

Hawaiian aircraft slide show:

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Hawaiian Airlines to fly nonstop to Boston starting in April, becomes the longest domestic route

The first Airbus A330 in the new 2017 livery

Hawaiian Airlines will begin its five-day-a-week service on April 4, 2019 to Boston – more than a week before Patriots’ Day on April 15, 2019.

Boston is the largest U.S. market without nonstop service to Hawai’i with nearly 500 people flying between eastern New England and the islands on any given day. This new route adds to Hawaiian Airlines’ global network. The market between Boston Logan International (BOS) and Honolulu’s Daniel K. Inouye International (HNL) airports last year generated about $76 million in ticket sales.

In commemoration of the city of Boston’s deep history and Hawaiian Airlines’ 90th year of operation starting on November 11, the flight to Boston will be numbered Flight HA90. Starting with the inaugural flight on April 4, 2019 HA90 will depart HNL every day but Tuesday and Wednesday at 1:45 p.m. and arrive at BOS the following morning at 6 a.m. Flight HA91 will depart BOS every day but Wednesday and Thursday at 8:55 a.m., except for Friday flights, which will depart at 8 a.m. The flights will arrive in Hawai’i the same day at 2:35 p.m. and the Friday flight will arrive at 1:40 p.m. Both HNL arrival times offer guests ample time to settle into their accommodations and unwind with a Hawaiian sunset, or connect to Kaua’i, Maui or the Island of Hawai’i via the airline’s convenient schedule of some 170 daily interisland jet flights.

At 5,095 miles, Hawaiian’s BOS-HNL route becomes the longest regularly scheduled domestic route in U.S. history.

New Englanders traveling from the East Coast to Hawai’i’s shores will enjoy the roominess and superior comfort of Hawaiian’s Airbus A330 widebody aircraft.

Incorporating flowing curves evocative of the winds and the ocean, Hawaiian’s spacious first class cabin features 18 lie-flat leather seats that transform into 180-degree beds at a roomy 20.5 inches wide and 76 inches long. Aligned in a 2-2-2 configuration, the seats are ideally tailored to leisure guests such as couples, families and honeymooners, while offering functionality to the business traveler.

Hawaiian also recently expanded to 68 from 40 the number of Extra Comfort main cabin seats, which offer a generous 36-inch pitch for extra leg room, and priority boarding. Guests can upgrade to Extra Comfort seats for $145 each way.

Top Copyright Photo (all others by Hawaiian): Hawaiian Airlines Airbus A330-243 F-WWCH (N361HA) (msn 1823) TLS (Eurospot). Image: 939213.

Hawaiian aircraft slide show:

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Hawaiian Airlines updates expected third quarter and full year 2018 metrics

Delivered on June 15, 2018

Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc., has updated its expectations for certain third quarter and full year 2018 financial metrics.

Third Quarter 2018 Outlook

The Company has revised certain of its expectations for the third quarter ending September 30, 2018that were previously provided on July 24, 2018.

Specifically, the Company lowered its expectations for third quarter operating revenue per available seat mile (RASM) as a result of service disruptions, passenger cancellations and booking interruptions stemming from Hurricane Lane that affected the Hawaiian island chain in late August 2018.

The table below summarizes the Company’s revised expectations, expressed as an expected percentage change compared to the results for the third quarter ended September 30, 2017.

Prior Third Quarter

2018 Guidance

Revised Third Quarter
2018 Guidance

Operating revenue per ASM (RASM)

Down 1.5% – Up 1.5%

Flat – Down 2.0%

Full Year 2018 Outlook

The Company has also revised certain of its expectations for the full year ending December 31, 2018that were previously provided on July 24, 2018.

Specifically, the Company lowered its expectations for full year ASMs and gallons of jet fuel consumed following the planned suspension of its thrice-weekly nonstop service between Honolulu’s Daniel K. Inouye International Airport (HNL) and Beijing Capital International Airport (PEK) effective mid-October 2018.

The Company’s expectations for full year operating costs per ASM (CASM) excluding aircraft fuel and special items remain unchanged.

The table below summarizes the Company’s revised expectations, expressed as an expected percentage change compared to the results for the year ended December 31, 2017.

Prior Full Year 2018
Guidance

Revised Full Year 2018
Guidance

Available seat miles (ASMs)

Up 5.5 – 7.5%

Up 5.0 – 7.0%

Gallons of jet fuel consumed (000s)

Up 4.0 – 6.0%

Up 3.5 – 5.5%

Copyright Photo: Hawaiian Airlines Airbus A321-271N WL N212HA (msn 8129) LGB (Michael B. Ing). Image: 943083.

Hawaiian aircraft slide show:

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