U.S. leisure travel demand has come roaring back in recent months, helping airlines start to recover from the COVID-19 pandemic. Travelers have particularly flocked to outdoor-focused destinations like beaches, mountains, and national parks.
However, despite its focus on leisure travel to the ultimate beach destination -- Hawaii -- Hawaiian Holdings (NASDAQ: HA) hasn't recovered as quickly as most of its rivals. Hawaii's stringent pandemic-related travel protocols have weighed heavily on the company. Fortunately, Hawaii is steadily moving toward normalizing its travel rules, which is great news for Hawaiian Airlines and its parent company.
At the peak of the crisis last spring, Hawaiian Holdings' revenue plunged 92% year over year -- with passenger revenue down more than 95% -- as travel to and from Hawaii ground to a virtual halt. Even in the first quarter of 2021, revenue plummeted 67% on top of a 15% decline in the prior-year period.
For further details see:
Hawaii Travel Moves Toward Normal: Great News for Hawaiian Airlines