Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary, Hawaiian Airlines, has been making continuous efforts to expand its operations. In this regard, the carrier recently announced that it will operate more flights on the Sapporo-Honolulu route in the Feb 1-16 time period, next year.
Currently, the carrier operates non-stop flights between Sapporo’s New Chitose Airport and Honolulu’s Daniel K. Inouye International Airport thrice a week. Hawaiian Airlines commenced operations on this route in 2012, thereby becoming the sole carrier to offer non-stop flights connecting Sapporo and Honolulu. The service will be expanded to up to five flights a week between the destinations in the above-mentioned period. Through this customer-friendly initiative, Hawaiian Airlines aims to cater to the expected surge in demand during winter.
The above initiative apart, Hawaiian Airlines proposed joint venture (JV) with Japan Airlines aimed at benefiting its passengers by widening the scope of travel between Japan-Hawaii. In a bid to make the JV operational, the carriers had filed an application earlier this month, with the U.S. Department of Transportation (DOT) and the Ministry of Land, Infrastructure, Transport and Tourism in Japan seeking antitrust immunity for the JV.
The carriers, which already have a codeshare agreement between them, are hopeful about receiving government approval for the JV during the remainder of the year. In that case, the JV is expected to be operational from the second quarter of 2019. The JV once effective, should boost Hawaiian Holdings’ top line as it will boost traffic to Hawaii substantially.
Zacks Rank & Key Picks
Hawaiian Holdingscarries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation (GATX - Free Report) , SkyWest, Inc. (SKYW - Free Report) and Old Dominion Freight Line, Inc. (ODFL - Free Report) . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On a year-to-date basis, shares of GATX, SkyWest and Old Dominion Freight Line have gained 11.5%, 1.4% and 16.5%, respectively.
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