Per Reuters, Hawaiian Holdings, Inc. (HA - Free Report) subsidiary Hawaiian Airlines’ CEO Peter Ingram stated that the carrier has suffered a slight decline in bookings following an eruption at Hawaii’s Kilauea volcano.
The company’s CEO further commented on the sidelines of an airline industry conference that the flights from Honolulu to Hilo and Kona faced the largest impact as these airports are situated on the island of the spewing volcano. In fact, the lava emission has been forcing people to evacuate homes since last month.
However, Ingram confirmed that this natural disaster has not induced any flight delays or cancellations so far.
But tourism authorities on Hawaii’s Big Island are struggling with low summer bookings for hotels at the popular tourist destination. Earlier, the concerned authorities had confirmed that hotel bookings slumped nearly 50% since the volcanic flare-up began on May 3.
Per a Forbes report, earthquake activities have been intensifying of late in the Hawaii Volcanoes National Park making things worse. Meanwhile the Kilauea volcanic eruption continues unstoppable causing the magma to flow straight into the Pacific Ocean. Moreover, the lava is said to have engulfed the entire Green Lake, the largest in Hawaii.
With the calamity growing in severity, it remains to be seen how it affects Hawaiian Holdings.
Zacks Rank & Key Picks
Hawaiian Holdings has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader broader Transportation sector are GATX Corporation (GATX - Free Report) , Expeditors International of Washington, Inc. (EXPD - Free Report) and SkyWest, Inc. (SKYW - Free Report) . While GATX and SkyWest carry a Zacks Rank #2 (Buy), Expeditors sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of GATX, Expeditors and SkyWest have rallied more than 19%, 39% and 61%, respectively, in a year.
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