Hawaiian Airlines Issues Warning About Fourth Quarter Revenue

Hawaiian Airlines said Wednesday it will miss its fourth-quarter revenue targets by a considerable margin, blaming lower-than-expected fares and demand in key markets, but its problems appear isolated and likely don’t affect the broader U.S. airline industry. Routes from the mainland United States to Hawaii are among the most competitive in North America, as U.S. airlines in the past three years have add capacity to what long had been a robust market with high fares. Recently, carriers have reported difficulty selling the extra seats, at least at reasonable prices. Hawaiian had hoped to have more pricing power as fuel prices increased earlier this year, but on Wednesday it said fares for North America-Hawaii routes have not been as strong as predicted. And it noted that, while more passengers are visiting Hawaii this year than last, the number of new travelers has not kept pace with new industry capacity. Add that to softness in the inter-island Hawaii market, where Hawaiian has almost no competition — the airline said demand to the island of Haw