Hawaiian Airlines anticipates that capacity will be up 25.5% to 27.5% in the first quarter, reflecting the airlines' dramatic growth in 2012.
Capacity was up 21.9% last year compared to 2011, as it added four Airbus A330-300s and two Boeing 717-200s to its fleet.
Passenger revenue per available seat mile (PRASM) will decline by 6% to 9% during the first quarter, while load factor will be flat to fall by two percentage points, says Scott Topping, chief financial officer of Hawaiian, during an earnings call on 29 January. Cost per available seat mile (CASM) excluding fuel is expected to decrease by 3% to 6%.
"This decline is driven entirely by our new flying," he says.
Capital expenditure is expected to be $105 million to $115 million during the period primarily due to aircraft deliveries, adds Topping.
Hawaiian has revised down full year capacity guidance to 17% growth from 18% this past December. It will add five A330s this year and remove four Boeing 767-300ERs during the year, however, the new aircraft are larger and more oriented towards international flying than the aircraft that they replace.
Hawaiian will also begin flights on two 48-seat ATR 42-500s between Honolulu and Lana'i and Moloka'i in the second half.
Topping says that CASM excluding fuel will be down in the "low single digit range" for the year.
"Looking a little ahead into 2013, we see the difficult conditions persisting through the first quarter before becoming more benign for the balance of the year," says Mark Dunkerley, president and chief executive of Hawaiian, during the call. "Against this backdrop, we anticipate 2013 being another year of improving financial performance predominantly after the first quarter."