Why Hawaiian Holdings Stock Fell This Morning
Hawaiian Holdings (NASDAQ: HA), the parent of Hawaiian Airlines, reported a smaller-than-expected loss in the third quarter, but in an environment of raised expectations it was not enough to cause the stock to gain altitude. Shares fell as much as 10% on Wednesday morning as investors continue to wait on an international recovery.
Late Tuesday, Hawaiian reported a third-quarter loss of $0.15 per share on revenue of $741.15 million, within range of the $0.18 loss on $746 million in sales that analysts had been expecting. Similar to what other airlines have reported, demand held up well in the recently completed quarter despite fears of a slowing economy.
CEO Peter Ingram issued a statement saying, "We enjoyed strong demand for travel to Hawaiʻi this summer, led by our North America routes, and are encouraged to see these trends continue into the fall, while the relaxation of travel restrictions in Japan sets the stage for the full restoration of our network in the months ahead."
Source Fool.com
