Fitch views Hawaiian Holdings positively

Fitch said it placed Hawaiian Holdings, Inc.'s issuer default rating on rating watch positive, following the announced merger with Alaska Air Group, Inc.

The RWP reflects the view that Hawaiian's credit profile will benefit from Alaska Air's robust balance sheet and profitability, the agency said.

“Fitch expects post-closing leverage for the combined companies to peak in the mid-3x range, depending on the amount of debt raised, and to trend lower thereafter,” the agency said in a statement.

Fitch noted if the merger goes through the refinancing risk for Hawaiian’s debt due in January 2026 will be transferred to Alaska Air.

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