Historically, the airlines have been horrible operators and Hawaiian Holdings (HA)
probably topped the list. In reality, the issue in paradise might have
been a prime example of the industry issue times two. For a long time,
it was cool to own an airline and probably double so to fly to the
beautiful Hawaiian Islands. Even today in the midst of a dramatic
turnaround, the airline lists receding industry capacity in Hawaii as a
major benefit. The opposite was probably true of fellow West Coast
competitor Alaska Air Group (ALK)
that historically has the better operations. Did the lack of desire to
fly to the cold confines of Alaska provide a natural competition
eliminator that provided a significant advantage over any management
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