Fitch ups Hawaiian Airlines to B+

Fitch Ratings said it upgraded Hawaiian Airlines, Inc. and parent company Hawaiian Holdings, Inc. to B+ from B.

The outlook is stable.

Fitch said the upgrade is supported by material improvement in Hawaiian Airlines’ credit profile over the past two years as lower capital spending, maturing international routes and low fuel prices have led to improved operating margins and allowed the company to pay down debt.

For 2016, the agency expects further credit improvement driven by low fuel, a more moderate competitive environment in Hawaiian Airlines’ domestic markets, and sustained demand for tourism to the islands of Hawaii. Another year of solid financial performance in 2016 should allow the company to pay down incremental debt and build its base of unencumbered assets, putting Hawaiian Airlines in a better position to weather future downturns.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.