Document



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 8‑K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

October 6, 2016


HAWAIIAN HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

Delaware
 
001-31443
 
71-0879698
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)

3375 Koapaka Street, Suite G-350
Honolulu, HI 96819
(Address of principal executive offices, including zip code)

(808) 835-3700
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))







Item 2.02
Results of Operations and Financial Condition.

On October 6, 2016, the registrant issued a press release reporting its system wide traffic statistics for the month of September, for the third quarter and for 2016 year-to-date, as well as updating expectations for its estimated cost per available seat mile excluding fuel, operating revenue per available seat mile, gallons of jet fuel consumed and economic fuel cost per gallon, each for the quarter ending September 30, 2016. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

None of the information furnished in this report (including Exhibit 99.1) shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and unless expressly set forth by specific reference in such filings, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings.


Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits.
 
99.1
Press Release dated October 6, 2016.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
HAWAIIAN HOLDINGS, INC.
 
Date: October 6, 2016
   By:
/s/ Shannon L. Okinaka
 
 
Name: Shannon L. Okinaka
Title: Executive Vice President, Chief Financial Officer and Treasurer
 
 
 


 




EXHIBIT INDEX

99.1
Press Release dated October 6, 2016.



Document


Exhibit 99.1

http://quotemedia.10kwizard.com/cgi/image?quest=1&rid=23&ipage=11172185&doc=3
FOR IMMEDIATE RELEASE
Thursday, October 6, 2016
INVESTOR RELATIONS CONTACT:
Ashlee Kishimoto (808) 838-5421
Ashlee.Kishimoto@HawaiianAir.com



MEDIA RELATIONS CONTACT:
Alison Croyle (808) 835-3886
Alison.Croyle@HawaiianAir.com

Hawaiian Airlines Reports September 2016 Traffic Statistics and Updates Expected Third Quarter Metrics

HONOLULU – 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 financial metrics.

SYSTEM-WIDE OPERATIONS1 
SEPTEMBER
2016
2015
% CHANGE
PAX
883,315
848,252
4.1%
RPMS (000)
1,286,281
1,182,794
8.7%
ASMS (000)
1,512,928
1,440,748
5.0%
LF
85.0%
82.1%
2.9 pts.

THIRD QUARTER
2016
2015
% CHANGE
PAX
2,918,230
2,832,572
3.0%
RPMS (000)
4,170,671
3,884,851
7.4%
ASMS (000)
4,894,768
4,663,198
5.0%
LF
85.2%
83.3%
1.9 pts.
 
 
 
 
YEAR-TO-DATE
2016
2015
% CHANGE
PAX
8,321,114
8,014,398
3.8%
RPMS (000)
11,559,795
10,822,970
6.8%
ASMS (000)
13,813,955
13,334,528
3.6%
LF
83.7%
81.2%
2.5 pts.
PAX
Passengers transported
RPM
Revenue Passenger Miles; one paying passenger transported one mile
ASM
Available Seat Miles; one seat transported one mile
LF
Load Factor; percentage of seating capacity filled
1 Includes the operations of contract carriers under capacity purchase agreements.





Third Quarter 2016 Outlook

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).

 
 
Third Quarter
 
 
 
 
Item
 
2015
 
Prior Guidance
 
Revised Guidance
Cost per ASM Excluding Fuel (cents)
 
7.97
 
 
Up 2% to up 5%
 
Up 3% to up 4%
Operating Revenue per ASM (cents)
 
13.55
 
 
Down 1% to up 2%
 
Up 0.5% to up 1.5%
Gallons of jet fuel consumed (millions)
 
61.2
 
 
Up 4% to up 6%
 
Up 5.5% to up 6.5%
Economic fuel cost per gallon
 
$
1.95
 
 
$1.50 to $1.60
 
$1.48 to $1.53

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.

Safe Harbor Statement

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.

About Hawaiian Airlines






Hawaiian® has led all U.S. carriers in on-time performance for each of the past 12 years (2004-2015) as reported by the U.S. Department of Transportation. Consumer surveys by Condé Nast Traveler, Travel + Leisure and Zagat have all ranked Hawaiian the highest of all domestic airlines serving Hawai‘i.

Now in its 87th year of continuous service, Hawaiian is Hawai‘i’s biggest and longest-serving airline, as well as the largest provider of passenger air service from its primary visitor markets on the U.S. Mainland. Hawaiian offers non-stop service to Hawai‘i from more U.S. gateway cities (11) than any other airline, along with service from Japan, South Korea, China, Australia, New Zealand, American Samoa and Tahiti. Hawaiian also provides approximately 160 jet flights daily between the Hawaiian Islands, with a total of more than 200 daily flights system-wide.

Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings, Inc. (NASDAQ: HA). Additional information is available at HawaiianAirlines.com. Follow updates on Twitter about Hawaiian (@HawaiianAir) and its special fare offers (@HawaiianFares), and become a fan on its Facebook page (Hawaiian Airlines).

For media inquiries, please visit Hawaiian Airlines’ online newsroom.