Alaska Airlines and Horizon Air 2009 Annual Report Download - page 136

HORIZON AIR FINANCIAL AND STATISTICAL DATA
Three Months Ended December 31 Year Ended December 31
2009 2008
%
Change 2009 2008
%
Change 2007
%
Change
Financial Data (in millions):
Operating Revenues:
Passenger—brand flying ............ $ 98.2 $ 98.5 (0.3) $381.9 $429.2 (11.0) $391.3 9.7
Passenger—capacity purchase
arrangements (a) ................ 70.5 62.5 12.8 261.7 293.7 (10.9) 317.9 (7.6)
Total passenger revenue ............ 168.7 161.0 4.8 643.6 722.9 (11.0) 709.2 1.9
Freight and mail ................... 0.7 0.6 16.7 2.7 2.7 — 2.3 17.4
Other—net ....................... 2.1 2.1 — 8.1 8.3 (2.4) 6.9 20.3
Total Operating Revenues ........... 171.5 163.7 4.8 654.4 733.9 (10.8) 718.4 2.2
Operating Expenses:
Wages and benefits ................ 48.2 46.9 2.8 185.2 194.1 (4.6) 201.3 (3.6)
Variable incentive pay .............. 6.2 1.4 342.9 14.4 5.6 157.1 7.3 (23.3)
Aircraft fuel, including hedging gains
and losses ..................... 29.4 60.4 (51.3) 109.1 236.0 (53.8) 138.8 70.0
Aircraft maintenance ............... 13.6 10.7 27.1 53.2 58.2 (8.6) 92.0 (36.7)
Aircraft rent ...................... 11.1 13.2 (15.9) 44.7 56.9 (21.4) 65.6 (13.3)
Landing fees and other rentals ....... 15.3 13.6 12.5 57.7 57.2 0.9 56.9 0.5
Contracted services ................ 8.3 7.1 16.9 32.1 29.1 10.3 27.1 7.4
Selling expenses .................. 6.6 6.4 3.1 27.1 31.1 (12.9) 31.2 (0.3)
Depreciation and amortization ........ 10.7 8.7 23.0 39.5 37.5 5.3 33.9 10.6
Food and beverage service .......... 0.6 0.5 20.0 2.4 2.6 (7.7) 2.8 (7.1)
Other ........................... 10.4 9.0 15.6 39.4 42.7 (7.7) 48.0 (11.0)
Fleet transition costs—CRJ-700 ...... —6.7 NM —13.5 NM — NM
Fleet transition costs—Q200 ......... —0.5 NM 8.8 10.2 NM 14.1 NM
Total Operating Expenses ........... 160.4 185.1 (13.3) 613.6 774.7 (20.8) 719.0 7.7
Operating Income (Loss) ........... 11.1 (21.4) NM 40.8 (40.8) NM (0.6) NM
Interest income ................... 0.5 1.6 2.0 5.4 4.5
Interest expense .................. (3.7) (6.7) (19.9) (23.6) (16.6)
Interest capitalized ................ 0.0 0.7 0.3 3.0 2.1
Other—net ....................... (0.2) 0.1 (0.4) 0.2 (0.1)
(3.4) (4.3) (18.0) (15.0) (10.1)
Income (Loss) Before Income Tax .... $ 7.7 $ (25.7) NM $ 22.8 $ (55.8) NM $ (10.7) NM
Combined Operating Statistics:
Revenue passengers (000) .......... 1,704 1,636 4.2 6,759 7,390 (8.5) 7,552 (2.1)
RPMs (000,000) “traffic” ........... 609 561 8.6 2,408 2,635 (8.6) 2,918 (9.7)
ASMs (000,000) “capacity” .......... 822 786 4.6 3,292 3,617 (9.0) 3,978 (9.1)
Passenger load factor .............. 74.1% 71.4% 2.7pts 73.1% 72.9% 0.2pts 73.4% (0.5)pts
Yield per passenger mile ............ 27.70¢ 28.70¢ (3.5) 26.73¢ 27.43¢ (2.6) 24.30¢ 12.9
RASM ........................... 20.86¢ 20.83¢ 0.1 19.88¢ 20.29¢ (2.0) 18.06¢ 12.3
PRASM .......................... 20.52¢ 20.48¢ 0.2 19.55¢ 19.99¢ (2.2) 17.83¢ 12.1
Operating expenses per ASM ......... 19.51¢ 23.55¢ (17.2) 18.64¢ 21.42¢ (13.0) 18.07¢ 18.5
Aircraft fuel cost per ASM ........... 3.57¢ 7.69¢ (53.6) 3.31¢ 6.53¢ (49.3) 3.49¢ 87.1
CRJ-700 fleet transition costs per
ASM .......................... 0.00¢ 0.85¢ NM 0.00¢ 0.37¢ NM — NM
Operating expenses per ASM, excluding
fuel and CRJ-700 fleet transition
costs ......................... 15.94¢ 15.01¢ 6.2 15.33¢ 14.52¢ 5.5 14.58¢ (0.4)
Q200 fleet transition costs per ASM . . . 0.00¢ 0.06¢ NM 0.27¢ 0.28¢ NM 0.35¢ NM
Aircraft fuel cost per gallon .......... $ 1.96 $ 4.08 (52.0) $ 1.82 $ 3.53 (48.4) $ 2.14 65.0
Economic fuel cost per gallon ........ $ 2.32 $ 2.58 (10.1) $ 2.07 $ 3.05 (32.1) $ 2.28 33.8
Fuel gallons (000,000) ............. 15.0 14.8 1.4 60.1 66.9 (10.2) 64.8 3.2
Average number of full-time equivalent
employees ..................... 3,275 3,466 (5.5) 3,308 3,699 (10.6) 3,897 (5.1)
Aircraft utilization (blk hrs/day) ....... 8.1 8.0 1.3 8.3 8.3 — 8.6 (3.5)
Average aircraft stage length (miles) . . . 330 315 4.8 327 322 1.6 351 (8.3)
Operating fleet at period-end ......... 58 59 (1)a/c 58 59 (1)a/c 70 (11)a/c
NM = Not Meaningful
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