Hawaiian Airlines Reports 7.6% Air Traffic Rise In April

Hawaiian Airlines, the wholly owned subsidiary of Hawaiian Holdings (NASDAQ:HA) , posted a 7.6% rise in traffic (measured in Revenue Passenger Miles or RPMs) to around $1.29 billion in Apr 2017 from $1.20 billion a year ago. Meanwhile, Available Seat Miles (ASMs) inched up 4.8% to $1.52 billion from $1.45 billion in the same month last year. Load factor (the percentage of seats filled by passengers) increased 220 basis points (bps) to 85.3% in Apr 2017 as traffic growth outpaced capacity expansion.

On a year-to-date basis, Hawaiian Airlines witnessed a 7.3% rise in RPMs to $5.09 billion. Also, ASMs rose 3.8% to $6.04 billion. As a result, the load factor increased 270 bps to 84.3%. Additionally, passenger count in the first four months of 2017 rose 2.7% to $3.61 billion from $3.51 billion in the same period in 2016.

Hawaiian Holdings recently reported first-quarter 2017 financial numbers. The company’s adjusted earnings of $1.04 per share beat the Zacks Consensus Estimate of 86 cents. Quarterly revenues of $614 million edged past the Zacks Consensus Estimate of $613 million. Higher passenger revenues boosted the top line. Both earnings and revenues increased on a year-over-year basis. The company’s peers like JetBlue Airways (NASDAQ:JBLU) and Allegiant Travel Company (NASDAQ:ALGT) have also released their first-quarter 2017 results in the past few weeks.

Hawaiian Holdings, Inc. Price

Hawaiian Holdings, Inc. Price | Hawaiian Holdings, Inc. Quote

Zacks Rank & Key Pick

Hawaiian Holdings currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the airline space is Copa Holdings (NYSE:CPA) , with a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Copa Holdings gained over 34% on a year-to-date basis.

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