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Hawaiian Airlines' Traffic & Load Factor Rise in October

Zacks Equity Research

Hawaiian Holdings, Inc.’s HA wholly owned subsidiary Hawaiian Airlines reported traffic figures for October. Traffic (measured in Revenue Passenger Miles or RPMs) increased 5% to 1.53 billion in the month. Available Seat Miles (ASMs) inched up 2.1% to 1.74 billion in the period. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved 240 basis points (bps) to 88%.

During the first 10 months of 2019, the carrier recorded 3.1% rise in RPMs while ASMs increased 1.6%. As a result, load factor was up 120 bps. While passenger count slipped 0.9% on a year-to-date basis, it inched up 1% in October.

The company recently reported third-quarter financial numbers wherein its earnings of $1.72 per share outpaced the Zacks Consensus Estimate of $1.69. However, the bottom line declined 9.9% year over year. Although quarterly revenues of $755.2 million beat the Zacks Consensus Estimate of $748.1 million, it dipped marginally year over year. Results were affected by low passenger revenues.

Hawaiian Holdings, Inc. Price


Hawaiian Holdings, Inc. Price

Hawaiian Holdings, Inc. price | Hawaiian Holdings, Inc. Quote

Zacks Rank & Other Key Picks

Hawaiian Holdings carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same space are Allegiant Travel Company ALGT, Controladora Vuela Compania de Aviacion, S.A.B. de C.V. VLRS and LATAM Airlines Group S.A. LTM, each carrying the same Zacks Rank as Hawaiian Holdings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Allegiant, Controladora Vuela and LATAM Airlines have rallied more than 39%, 73% and 17%, respectively, in a year’s time.

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