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Hawaiian Holdings Shares Fall


Shares of Hawaiian Holdings Inc. took a hit, falling 9.3% in afternoon trading on Monday despite an uptick in its air-carrier peers. The parent company of Hawaiian Airlines made no announcements or filings with the SEC on Monday and did not respond to requests for comment at the time of reporting.

Meanwhile, the US Global Jets exchange-traded fund (ETF) rose 0.1% in afternoon trading, and the Dow Jones Transportation Average climbed 1.7%, with all six of its airline components trading higher. Hawaiian’s peers including American Airlines Group, JetBlue Airways, Delta Air Lines, United Airlines Holdings, and Southwest Airlines all saw increases ranging from 0.4% to 2.2%.

Despite expecting travel demand to slow down in the latter half of the year, Raymond James analyst Savanthi Syth predicts that this will be partially offset by lower fuel costs. In a note to clients, she stated that “We continue to believe airline stocks would perform well in a shorter and/or shallow downturn (albeit, perhaps not in the very near term)”.

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