Fitch downgrades Hawaiian Airlines to ‘B-‘; places on rating watch negative

Fitch Ratings has downgraded Hawaiian Airlines and its parent company, Hawaiian Holdings to ‘B-‘ from ‘B+’. The rating downgrade is driven by the severe impact that the coronavirus pandemic has had on air travel, says Fitch. The situation for Hawaiian is exacerbated in the near-term by Hawaiian’s reliance on tourist travel to its home market and by travel restrictions in Hawaii, which require a 14-day quarantine for anyone arriving to the islands. The ratings have been placed on Negative Rating Watch, reflecting the uncertainty around recovery in travel to the Hawaiian islands. Although the state is set to allow travellers