Hawaiian Airlines stock sinks toward 12-year low as Lahaina wildfires led to disappointing results

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Hawaiian Airlines stock sinks toward 12-year low as Lahaina wildfires led to disappointing results
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Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

Shares of Hawaiian Airlines parent Hawaiian Holdings Inc. HA, +2.87% sank 7.7% toward a 12-year low in after-hours trading Tuesday after the Hawaiian Airlines parent reported a wider-than-expected third-quarter loss and revenue that fell short of expectations, as the August wildfires in Lahaina caused “a sharp decrease in traffic” to Maui. Net losses widened to $$8.7 million, or 94 cents a share, from $9.3 million, or 18 cents a share, in the year-ago period.

7 million, below the FactSet consensus of $735.7 million. Meanwhile, load factor rose to 86.1% from 83.0%, to beat the FactSet consensus of 85.4%, as traffic rose 8.2% to 4.45 billion revenue passenger miles and capacity grew 4.2% to 5.17 billion available seat miles. For 2023, the company cut its capacity growth guidance to 7.5% to 8.5% from 8.0% to 10.0% while raising its fuel cost outlook to $2.89 per gallon from $2.78 per gallon.

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