Hirzel Capital Management Decreases Stake in Hawaiian Holdings Inc. (HA) to 7.3%

Additionally, the airline company announced the launch of a new in-flight culinary program containing specially-designed menus from five top Hawaiian chefs. This culinary program will provide the Hawaiian Airline’s clients the chance to relish in the delicious and savory cuisine of Hawaii when travelling from Hawaii to the Mainland. Undoubtedly, this is a source of competitive advantage for the airline, and there are minimal chances that other airline companies will be able to replicate this competitive business model.

Let’s take a quick look at Hawaiian Holdings’ financials so as to assess the fundamental strength of the company. During the first quarter, the company reported an adjusted net income, which reflects economic fuel expense and excluding loss on extinguishment of debt, of $24.4 million, marking an increase of $25.6 million year-over-year. Interestingly enough, the company’s board of directors approved a share-repurchase program authorizing up to $100 million in repurchases, which might signal that the company, including its shareholders, consider that the shares are relatively undervalued. Meanwhile, the president and chief executive officer of Hawaiian Airlines, Mark Dunkerley, claimed that the company’s record results during the seasonally-weak first quarter proves the strength of it business.

John Overdeck and David Siegel’s Two Sigma Advisors and Jim Simons’ Renaissance Technologies are the largest shareholders in Hawaiian Holdings Inc. (NASDAQ:HA), owning 560,300 shares and 412,773 shares respectively.

Disclosure: None