Hawaiian Holdings' Suffering Continued Last Quarter
Air travel demand remains far below normal levels. Nevertheless, for many U.S. airlines, this summer marked the beginning of what will be a long recovery period.
Not so for Hawaiian Holdings (NASDAQ: HA). Strict quarantine requirements for travelers to Hawaii caused demand to remain minimal in the third quarter, leading to another ugly loss for the Hawaiian Airlines parent. Fortunately, the company has plenty of liquidity. Moreover, Hawaii recently implemented a pre-travel testing program that will allow tourists to avoid the mandatory quarantine, which could help the Hawaii-focused airline start recovering this quarter.
Three months ago, Hawaiian Holdings reported an adjusted loss of $175 million ($3.81 per share) for the second quarter, as revenue plunged 92% year over year on a 92% decrease in capacity.
Source Fool.com
