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VP Andrew Watterson Safe Harbor Statement
- 1. ANDREW WATTERSON Vice President Planning and Revenue Management
- 2. Safe Harbor Statement •The following information contains certain 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 the Company’s operating and competitive environments, economic conditions, new routes, fleet transition, 2012 second quarter outlook, marketing activities and strategies, sales distribution strategy, growth opportunities, 2012 outlook, capacity growth and passenger revenue mix, and the Company’s business focus. 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 to be materially different from any future results, expressed or implied, in these forward‐looking statements. These risks, uncertainties and factors include, but are not limited to, the price and availability of aviation fuel, the competitive environment, competitive advantages held by network carriers in the transpacific market, market demand, delays in scheduled aircraft deliveries and other loss of fleet capacity, economic conditions in the United States and abroad and increased competition in the markets in which the Company operates. 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 therein 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, 2011, the Company’s Quarterly Report on Form 10‐Q for the quarter ended Sep 30, 2012 and other/subsequent filings with the Securities and Exchange Commission.
- 3. We’ve Changed SEATTLE PORTLAND SACRAMENTO OAKLAND SAN FRANCISCO SAN JOSE LAS VEGAS LOS ANGELES PHOENIX SAN DIEGO HONOLULU Neighbor Island Network MAUI LIHUE MANILA MAUI HONOLULU PAPEETE PAGO PAGO HILO KONA SYDNEY 2010 new routes 2010 seasonal routes -3-
- 4. We’ve Changed SEATTLE PORTLAND TOKYO / HANEDA SACRAMENTO OSAKA / KANSAI OAKLAND SEOUL SAN FRANCISCO SAN JOSE LAS VEGAS LOS ANGELES PHOENIX SAN DIEGO HONOLULU Neighbor Island Network MAUI LIHUE MANILA MAUI HONOLULU PAPEETE PAGO PAGO HILO KONA SYDNEY 2011 new routes 2011seasonal routes -4-
- 5. We’ve Changed SAPPORO / CHITOSE SEATTLE PORTLAND TOKYO / HANEDA SACRAMENTO OSAKA / KANSAI OAKLAND NEW YORK / JFK SEOUL SAN FRANCISCO FUKUOKA SAN JOSE LAS VEGAS LOS ANGELES PHOENIX SAN DIEGO TAIPEI HONOLULU Neighbor Island Network MAUI LIHUE MANILA MAUI HONOLULU PAPEETE PAGO PAGO HILO BRISBANE KONA SYDNEY AUCKLAND 2012‐2013 (announced) new routes 2012 seasonal routes -5-
- 6. Our Network is Broader Vibrant Japanese city with Largest US market without Large Japanese city with Queensland resource boom Underserved market with historic ties and growing nonstop service to Hawaii limited leisure service provides a new source of inbound and outbound visitor levels to Hawaii visitors tourism New JetBlue partnership Location provides provides feed from the Previously supported non- Virgin Australia hub Attractive connections connections with Korea and Eastern seaboard stop daily service to HNL provides a gateway to to/from US Mainland China Australia increase potential demand sources -6-
- 7. Our Network is Deeper and More Connected Strong Australian economy Strong economy and Visa San Jose to Maui similar in Oakland to Maui larger than and dollar make Hawaii an Waiver Program continues size to HNL market HNL market attractive destination to drive visitor growth Service timed to connect at Service timed to connect at Largest market to Hawaii Increasing number of New service timed for Maui hub for service to Maui hub for service to continues to perform well customers using HA for connections to/from China Neighbor islands Neighbor islands multi-stop vacations Seasonal Maui service among best performing routes this summer -7-
- 8. Seasonal Flexibility -8-
- 9. Our Newest Asia Gateway – Taipei, Taiwan T a i p e i , Ta i w a n • Newest addition of US Visa Waiver program • Largest city in Taiwan, with total metropolitan population of 6.9 million people • Center of commerce and government for the country with world class amenities A b o u t Ta i w a n • Total population of 23 million people • Historically significant visitor market to Hawaii, with over 350 Hawaii PDEW (during periods of daily non-stop service) • Current service limited to one-stop service via Japan and Korea • 4th highest Per Capita GDP in Asia with one of the fastest growing economies in the region* *CIA World Factbook -9-
- 10. Maui Hub SEATTLE LAS VEGAS LIHUE OAKLAND HONOLULU SAN JOSE Seasonal 7x LOS ANGELES 14x 200x 14x HILO 21x KONA -10-
- 11. Increased Share of a Stable Market CAGR CAGR 04‐12 04‐12 25 0% 2% 25 20 20 Billions Billions 15 ‐1% 15 19.0 17.2 16.0 18.4 16.7 15.4 15.3 15.0 14.0 ‐1% 10 10 9.2 9.8 10.2 9.1 8.0 5 5 9.2 7.9 7.7 7.8 30% 4.4 5% 3.0 3.1 3.3 3.9 3.8 3.7 3.9 3.9 1.6 2.5 0.5 0.6 0.7 0 0 0.3 0.4 0.3 0.3 2004 2005 2006 2007 2008 2009 2010 2011 2012 2004 2005 2006 2007 2008 2009 2010 2011 2012 HA Market HA Share 15% 14% 15% 18% 20% 21% 20% 21% 21% 18% Market 3% 4% 4% 3% 6% 7% 8% 17% 21% Share HA Non-HA HA Non-HA -11-
- 12. Growing Capacity and Revenue 35% YOY PASSENGER REVENUE GROWTH 30% 25% 20% 15% 10% 5% 0% -5% 5% 15% 25% 35% YOY ASM GROWTH Source: US DOT Form 41 Data -12-
- 13. Customers Prefer HA 100% HA O&D Market Market O&D share HA Fare Premium Greater passenger share SMF-HNL LAX‐HNL 1,031,538 31% $11 than seat share SJC-HNL SFO‐HNL 490,467 29% $15 80% LAS-HNL OAK-HNL LAS‐HNL 438,445 81% $3 HA Passenger Share SEA‐HNL 365,172 37% $16 PHX-HNL LAS-OGG 60% SEA‐OGG 279,939 52% $48 SEA-OGG PDX-HNL SAN‐HNL 225,139 48% $24 PDX‐HNL 200,153 51% $14 SAN-HNL 40% SEA-HNL OAK-OGG PHX‐HNL 164,346 59% ($25) OAK‐OGG 161,641 38% $8 LAX-HNL SJC-OGG SJC‐HNL 143,474 80% ($3) SFO-HNL 20% OAK‐HNL 141,667 78% $17 Greater seat share SJC‐OGG 127,302 31% ($8) than passenger share SMF‐HNL 122,847 87% $19 0% LAS‐OGG 76,802 69% $6 0% 20% 40% 60% 80% 100% 3,968,934 47% $9 HA Seat Share Source: US DOT O&D and T‐100 Data, Q4 2011‐Q3 2012; US -13-
- 14. Our Neighbor Island Network Serves as a Utility CODESHARE PARTNERS I N T E R L I N E PA RT N E R S -14-
- 15. We are Expanding Virtually Fresno Cleveland Fresno Cleveland Fresno Portland, ME Seattle Monterrey Monterrey Monterrey Burlington, VT Portland San Diego San Diego San Diego Boston Las Vegas Santa Barbara Santa Barbara Santa Barbara Rochester Los Angeles Ft. Lauderdale Syracuse Dallas-Ft. Worth Orlando Buffalo Chicago (O’Hare) Palm Beach New York-JFK Philadelphia Ft. Myers Charlotte Wash-Regan Tampa Raleigh-Durham Wash.-Dulles Bangkok Bangkok Sapporo Osaka (Kansai) Seoul (Incheon) Seoul (Incheon) Fukuoka Kagoshima Pusan Pusan Hiroshima Oita Tokyo (Haneda) Osaka (Itame) Naha + + + + ‐ -15-
- 16. Many Opportunities Remain Edmonton Montreal SAPPORO / CHITOSE Calgary Toronto Frankfurt Sendai Vancouver Minneapolis London TOKYO / HANEDA Boston SEATTLE Detroit Nagoya NEW YORK / JFK PORTLAND Paris Beijing OSAKA / KANSAI SACRAMENTO Philadelphia SEOUL OAKLAND St. Louis FUKUOKA SAN FRANCISCO Madrid Washington Chengdu SAN JOSE Shanghai LAS VEGAS LOS ANGELES Dallas PHOENIX Miami SAN DIEGO Houston Guangzhou Taipei TAIPEI HONOLULU Mexico Hong City MAUI Kong 2012 Metropolitan population MANILA Sao Paolo Jakarta Singapore Buenos Aires 1‐2M 3‐5M 5‐10M 10‐20M >20M Jakarta EXISTING / ANNOUNCED ROUTES BRISBANE SEASONAL ROUTES PAGO PAGO PAPEETE SYDNEY Melbourne AUCKLAND -16-