HA - Hawaiian Holdings stock loses altitude on capacity cuts

Hawaiian Holdings (NASDAQ:HA) shares fell sharply in Wednesday’s pre-market trading, extending losses marked after its Tuesday evening earnings report. The Honolulu-based airline operator reported a net loss of $122.8 million in the first quarter on revenue of $477.2 million. Despite the red on the balance sheet on earnings and EBITDA, the losses were actually better than feared. The issue at hand seems to dovetail with JetBlue Airways’ stock-crash catalyst on Tuesday, that being capacity cuts. The Company expects its capacity for the second quarter to be down approximately 11.5% to 14.5% compared to 2019 and added that net losses are set to persist. Additionally, guidance on capacity for the full year was suspended on uncertainty ahead. The company noted that Japan’s restrictive COVID policies have had an outsized impact on results despite touting strong demand in line with many of its peers. Shares fell over 3% in pre-market hours, adding

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Hawaiian Holdings stock loses altitude on capacity cuts