Fitch revises Hawaiian view to stable

Fitch Ratings said it revised its outlook for Hawaiian Airlines Inc. and its parent company, Hawaiian Holdings, Inc., to stable from negative and affirmed its long-term issuer default rating at B-.

“The outlook revision reflects the company's improved liquidity position along with rebounding passenger traffic to Hawaii, which together decrease the likelihood of a further downgrade. The rollout of multiple effective coronavirus vaccines along with the desire to travel enables a sustained recovery and limits the risk of a sharp downturn in air travel,” Fitch said in a press release.

Separately, Fitch affirmed the B+/RR2 ratings on the $1.2 billion senior secured notes issued by Hawaiian Brand Intellectual Property, Ltd., and HawaiianMiles Loyalty, Ltd. and guaranteed by Hawaiian Airlines, Inc. and Hawaiian Holdings, Inc.

The agency also affirmed its ratings for Hawaiian Airlines pass-through series 2020-1 class A certificates and class B certificates at A- and BB-, respectively. Fitch affirmed the ratings for Hawaiian Airlines 2013-1 class A and class B certificates at BB and BB-, respectively.

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