Southwest Airlines (LUV) entered the West Coast-Hawaii and Hawaii interisland markets in the first half of 2019 and has been expanding its presence in Hawaii aggressively since then. Shares of hometown airline Hawaiian Holdings (HA) have bounced around in response, without making any progress one way or the other.
This pattern continued last week. The Hawaiian Airlines parent reported solid results for the fourth quarter of 2019 but projected a steep decline in revenue per available seat mile (RASM) for the first quarter of 2020. Investors weren't quite sure how to