Hawaiian Holdings Inc. provided an improved second-quarter revenue outlook Tuesday, citing continued “strong demand” in its North America market. The Hawaiian Airlines parent said it now expects revenue to decline 42% to 46% from the same quarter in prepandemic 2019, compared with previous guidance for a 45% to 50% decline. The company also said it now expects earnings before interest, taxes, depreciation, amortization and aircraft rent expense (Ebitdar) to be down $40 million to $10 million from a year ago, an improvement from its previous guidance for a decline of $70 million to $20 million. Separately, the company raised its outlook for fuel price per gallon to $1.87 from $1.75, but affirmed its capacity outlook for a decline of 30% to 33%. The stock, which fell 0.8% in premarket trading, has run up 43.2% year to date through Monday, while the U.S. Global Jets ETF has rallied 17.6% and the S&P 500 has gained 11.7%.
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