Hawaiian Airlines, Inc., a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA), has announced its system-wide traffic statistics for the month of September, third quarter and year-to-date.
It also updated its expectations for certain third quarter metrics. The Company has revised its expectations for the quarter ending September 30, 2016 provided previously in its Second Quarter 2016 Earnings Release on July 21, 2016.
Specifically, the Company expects its operating revenue per available seat mile to be at the favorable end of the prior guidance range.
The table below summarizes the Company’s revised expectations for the quarter ending September 30, 2016, expressed as an expected change compared to the results for the quarter ended September 30, 2015 (the results for which are presented for reference).The Company believes that economic fuel expense is the best measure of the effect of fuel prices on the business as it most closely approximates the net cash outflow associated with the purchase of fuel for operations in a period and is consistent with how management manages the business and assesses operating performance.
The Company defines economic fuel expense as raw fuel expense plus (gains)/losses realized through actual cash payments to/(receipts from) hedge counterparties for fuel hedge derivatives settled in the period inclusive of costs related to hedging premiums.This investor update contains forward-looking statements that reflect the Company’s current views with respect to certain current and future events and financial performance including but not limited to statements regarding the Company’s operating revenue per available seat mile, cost per available seat mile excluding fuel, gallons of jet fuel consumed and economic fuel cost per gallon, each for the quarter ending September 30, 2016.
These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the Company’s actual results for the quarter ending September 30, 2016 to be materially different from any expected results, expressed or implied, in these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.
Additional information on risk factors that could potentially affect the Company’s operations and financial results may be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, and subsequent filings with the Securities Exchange Commission.
