Mahalo for supporting Honolulu Star-Advertiser. Enjoy this free story!
Hawaiian Airlines said Thursday its passenger traffic rose 3.4 percent in September but that its fuel costs for the third quarter likely ended higher than it previously forecast.
The state’s largest carrier said it transported 913,488 passengers last month compared with 883,315 in the year-earlier period. Its load factor, or the percentage of seats filled, rose 1.6 percentage points to 86.6 percent from 85.0 percent.
Revenue passenger miles, or one paying passenger transported one mile, jumped 6.3 percent to 1.37 million from 1.29 million. Available seat miles, or one seat transported one mile, increased 4.3 percent to 1.58 million from 1.51 million.
The airline, which is scheduled to announce its third-quarter earnings Oct. 19, revised upward its economic fuel cost per gallon to a range of $1.65 to $1.75 from its original guidance of $1.55 to $1.65. Hawaiian also said the gallons of jet fuel it consumed last quarter is now expected to have risen 3 percent to 4 percent from the year-earlier period. That is narrower than the previous guidance of a 3 to 5 percent increase.
30-year mortgage rate rises to 3.85%
WASHINGTON >> Long-term mortgage rates ticked up slightly this week as the average 30-year fixed-rate mortgage rose to 3.85 percent from 3.83 percent a week ago.
Mortgage buyer Freddie Mac says the 15-year home loan, often used by homeowners who refinance their mortgages, also rose slightly to 3.15 percent from 3.13.
While near historically low, mortgage rates are higher than they were a year ago. The increase reflects in part the expectation that President Donald Trump and the Republican-majority Congress will approve tax cuts that are meant to stimulate growth and could possibly increase the deficit.
Alaska cuts payout to residents from oil fund
ANCHORAGE, Alaska >> Nearly every Alaskan woke up $1,100 richer Thursday, thanks to this year’s payout from the state’s oil wealth investment fund.
The distribution from the Alaska Permanent Fund is essentially free money for residents, who already don’t pay a state income tax or statewide sales tax. But it’s just half of the expected $2,200 windfall, which was reduced for the second straight year to help the state pay its bills amid a recession due to continued low oil prices.
A record payout of $2,072 was distributed to qualifying Alaskans in 2015. Last year the amount was estimated to be a bit higher until Gov. Bill Walker stepped in and shrank the amount because of the state’s multibillion-dollar budget deficit, a situation exacerbated by chronically low oil prices.
ON THE MOVE
Central Pacific Bank has promoted Rusty Rasmussen to senior vice president and Home Loans Division manager. Rasmussen will be responsible for managing the Home Loans Division origination and operations; and will establish the strategic vision, direction and tactical initiative for the division. He has more than 30 years of management experience in the mortgage industry, including serving as branch manager for Castle & Cooke Mortgage.
The Hospice Hawaii board of directors has selected Tori Abe as its new president and chief professional officer, effective Dec. 1. Abe is currently Hospice Hawaii’s chief strategy officer. Prior to joining the nonprofit organization in 2008, Abe served as vice president of marketing and business development for Hawaii Pacific Entertainment. She also worked at Destination Marketing Hawaii, KHON-TV and Starr Seigle McCombs.
71