Hawaiian Holdings Inc. (HA): Weak Share Price A Buying Opportunity


Travel restrictions continue to be eased by Hawaii for tourists. Consequently, Hawaiian Airlines, owned by Hawaiian Holdings Inc. (NASDAQ: HA), stands to benefit as vacation demand on the islands increases in the coming months. In Hawaii, the COVID-19 pandemic has almost completely halted air travel due to strict security protocols.

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As the crisis reached its peak last spring, Hawaiian Holdings’ revenue declined by 92 %, and passenger revenue fell by more than 95 %. Despite this, a rise in vaccinations, a drop in morbidity, and gradual relaxation of restrictions have helped the industry recover. In light of this, Hawaiian Airlines raised its second-quarter revenue forecast earlier this month and is now projecting a decline of 42 to 46% in sales compared to Q2 2019. Q2 is expected to improve sequentially from Q1. It is likely that the increase will be mainly driven by flights between Hawaii and the United States, while international flights and flights between the islands seem less likely to recover quickly. On the other hand, Hawaii’s dynamic of vaccination could “open” Hawaii to as many tourists as possible.

Hawaiian Holdings Inc. (NASDAQ: HA) officials announced that after 60 percent of Hawaiians have been fully vaccinated in the United States, they can travel to and within Hawaii without undergoing quarantine or testing. State officials aim to remove all restrictions once 70 % of their population has received vaccinations. The latest test results show 52% of residents have received the full vaccine, and 59% have received at least one dose.

Once Hawaii reaches a 60% vaccination rate, we expect that pent-up demand will drive traffic above the levels in 2019. Hawaiian Airlines has the resources to capitalize on sustained domestic demand recovery. It has many additional aircraft that it usually uses for international flights. As of March, the Airline has opened five additional routes from the mainland to Hawaii. The Airline has not yet released its third-quarter forecast, but it is expected to continue to thrive financially and may even break even.

Hawaiian Holdings Inc. (NASDAQ: HA) shares traded at $26.20 in yesterday’s market, down -12.43% since the previous check. HA’s stock closed the previous session at $29.92. Stock volume remained at 2.4 million shares, which was higher than the daily average of 0.87 million shares for the past 50 days. HA shares have gained 46.86% in the past year, and they have increased by 1.08% in the past week. This stock has gained 31.13% over the past six months while losing -1.91% over the past three months. Additionally, the company has a current market capitalization of $1.33 billion, and its outstanding shares were 51.11 million.


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