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Fitch shifts Hawaiian Airlines view to negative
Fitch Ratings said it affirmed its ratings on Hawaiian Holdings, Inc. and its subsidiary, Hawaiian Airlines, Inc. at BB- and revised the outlook to negative from stable.
The negative outlook is based on the sudden, sharp drop in demand in the market due to the growing efforts to contain the coronavirus. U.S. airlines are reporting steep and broad-based declines in passenger numbers since the virus began to appear widely outside of China.
Fitch's current forecast for Hawaiian anticipates the company will return to credit metrics that support the BB- rating in 2021. However, the agency’s forecasts depend on air traffic returning towards normal levels over the course of 2020.
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