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What: Shares of Hawaiian Airlines parent Hawaiian Holdings (NYSE: HA ) soared more than 10% in intraday trading today after blowing away third-quarter profit estimates.
So What: Adjusted earnings fell to $0.55 a share, from $0.66 in the year-ago quarter. Of that $0.55, $0.14 was attributable to the release of accrued interest and tax benefits. But even then, Hawaiian’s $0.41 per share in core earnings beat the Street’s average estimate of $0.36.
Now What: In the wake of the merger of Southwest Airlines (NYSE: LUV ) and AirTran Holdings (NYSE: AAI ) , Hawaiian is the rare carrier that remains independent. But with the 2008 demise of Aloha Airlines, Hawaiian may not need to. The carrier accounts for 45% of the traffic at its home airport in Honolulu, and keeps more cash than debt on its balance sheet.
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