Why Hawaiian Holdings (HA) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of Hawaiian Holdings Inc. (HA) are higher by 12.49% to $14.59 in late morning trading on Wednesday after the company reported an increase in net income to $27.3 million, or 43 cents per share for the 2014 second quarter, compared to $11.3 million, or 21 cents per diluted share for the year ago quarter.

The company, which owns Hawaiian Airlines Inc., said adjusted net income was up to $22.4 million, or 35 cents per diluted share for the most recent quarter, from $12.6 million, or 24 cents per diluted share for the 2013 second quarter.

Hawaiian Holdings said passenger revenue per available seat increased 4.1% over the 2013 second quarter.

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Additionally, Hawaiian Airline announced today that it's planning to add six new Airbus  (EADSY) A330-800neo aircrafts to its fleet in 2019, as part of the company's effort to expand its long-haul destinations business.

Separately, TheStreet Ratings team rates HAWAIIAN HOLDINGS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate HAWAIIAN HOLDINGS INC (HA) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."

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