10 Best Airline Stocks to Buy For 2024

5. Hawaiian Holdings, Inc. (NASDAQ:HA)

Number of Hedge Fund Investors: 29

Hawaiian Holdings, Inc. (NASDAQ:HA) has been facing headwinds amid rising costs, increasing competition and uncertainties around its merger with Alaska Airlines, which is still awaiting regulatory approval. The company has suffered following the entry of Southwest Airlines (LUV) in its market. Southwest increased its capacity for US to Hawaii by introducing new routes or increasing existing frequencies. Before LUV’s entry, Hawaiian Holdings, Inc. (NASDAQ:HA) used to enjoy 90% market share in its region, which fell dramatically after Southwest offered aggressive discounts and poached about 30% market share. Hawaiian Holdings, Inc. (NASDAQ:HA) is also struggling to see recovery in the number of Japanese tourists. The number of visitors from Japan last year only reached around 40% of the 2019 level as US dollar strength against the Japanese currency took a toll on Japanese consumers’ buying power.

Hawaiian Holdings, Inc. (NASDAQ:HA) shares fell in April after the company posted wider-than-expected Q1 loss of $2.77 per share. However, revenue in the quarter came jumped 5.4% YoY to $645.6 million, surpassing estimates of $629.2 million. Loss in the period came in at $138 million, much higher than the $98 million loss posted in the year-ago period.

Average analyst estimate for Hawaiian Airlines set by Wall Street analysts is $11.25, which is lower than the stock’s current price of $13.

A total of 29 hedge funds tracked by Insider Monkey reported owning stakes in Hawaiian Holdings, Inc. (NASDAQ:HA) as of the end of the first quarter of 2024.