HONOLULU – Hawaiian Airlines reported a net profit of $10.6 million in the fourth quarter (Q4) of 2016, down 71.4% year-over-year (YOY). For the full year 2016, however, Hawaiian’s net profit was a more robust $244.1 million ($398.5 million pretax), up 33.6% YOY.
These profitability figures were generated on $553.6 million for Q4 and $2.1 billion for the full year, up 10.7% and 5.9% YOY. More happily, Hawaiian’s unit revenues (PRASM) were up a sizzling 6.3% for and a contextually strong 2.1% for the full year. That should make Wall Street very, very, happy (were I more immature, I’d post a very famous screen-grab from South Park here)
Airways Senior Business Analyst Vinay Bhaskara is live-blogged the Hawaiian Airlines quarterly earnings call for Q4 and full year 2016. His overall takeaway:
Overall an excellent quarter and full year for Hawaiian once you adjust for some of the special items. Positive PRASM is a huge deal in the US industry right now (for better or for worse), and 6.3% growth with an expanded revenue premium against the industry is spectacular. Looking forward for Hawaiian, there are lots of positive signs. I’m optimistic about the A321neo avoiding further delays, and those planes will be transformative for Hawaiian. I also like the potential for more growth flying to Asia from Hawaiian. The one worrisome sign is, as with many US carriers, the prospects of a really expensive pilot deal. That will undo Hawaiian’s momentum and position them poorly for the next downturn.
You can re-read his coverage of the earnings call below via the ReplyAll tool.