Hawaiian Airlines (NASDAQ:HA) is in the red today after one of their flights suffered intense turbulence, injuring both passengers and crew members. HA stock closed down 3% amidst reports the interior of the plane was damaged prior to landing.
What’s going on with Hawaiian Airlines today?
In a flight from Phoenix to Honolulu, Hawaiian Airlines Flight 35 hit severe turbulence before landing safely this morning. Paramedics and emergency medical technicians from Honolulu Emergency Medical Services treated 36 patients upon landing, with 11 in serious condition. The injured passengers had head lacerations, bruises, bumps, cuts, nausea and loss of consciousness, according to Jim Ireland, Director of Honolulu Emergency Medical Services. At the time of writing, 17 passengers and 3 crew members are in the hospital, still dealing with complications related to their injuries.
While turbulence is a normal occurrences, it’s uncommon to see widespread injuries. The National Transportation Safety Board and Federal Aviation Administration have announced investigations into the flight.
Unfortunately, the news came as a headwind to investors. Hawaiian Airlines shares fell today alongside a broader pullback in the market.
HA Stock Sinks on Flight Injuries
HA suffered a selloff following the turbulence news, adding to the company’s losses this year. Indeed, HA stock is down nearly 40% in 2022. The Nasdaq Composite and S&P 500 are down 33% and 20%, respectively.
Airlines in general have been hit hard this year, in no small part due to rising fuel costs as well as the current pilot shortage.
That said, things have been looking up for airlines recently. In its fourth-quarter earnings forecast earlier this month, Delta Airlines (NYSE:DAL) announced it expects to double its adjusted profit per share in 2023 to $5 or $6, from its 2022 estimate of about $3 per share. According to the airline, travel demand is currently in the midst of its strongest surge since the pandemic, with a strong U.S. dollar tempting more Americans to travel abroad.
Unfortunately, the general optimism surrounding air travel likely offered little assistance to Hawaiian Holdings today. Whether the company can regain lost ground heading into the new year remains to be seen.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
