Southwest Airlines (LUV) To Begin Major Hawaii Expansion
Southwest Airlines Co. LUV announced plans to expand its operations in Hawaii. The Dallas-based carrier revealed a major network expansion in the Aloha State, announcing multiple new routes and three new mainland gateways (Los Angeles, Phoenix and Las Vegas). The airline, which launched services to Hawaii in March 2019, will now add flights from Las Vegas, Phoenix and Los Angeles beginning in June.
From Las Vegas, new service to Honolulu (twice a day) will begin from Jun 6, followed by Maui (twice a day) on Jun 27. Flights to Kauai (once a day) and the island of Hawaii (once a day) will start from Sep 8 and Sep 7, respectively.
From Los Angeles, new service to Honolulu (once a day) and Maui (thrice a day) will begin from Jun 6, followed by flights to Kauai (once a day) and the island of Hawaii (once a day) on Jun 27. New service to Honolulu will increase up to twice a day from Jun 27.
From Phoenix, new service to Honolulu (twice a day) and Maui (once a day) will commence Jun 27. Flights to Kauai (once a day) and the island of Hawaii (once a day) will start from Sep 7.
Moreover, Southwest Airlines will fly from San Diego to four Hawaiian Islands, which represents a significant increase over the previous service. The airline will fly from San Diego to Honolulu (twice a day) and Maui (once a day) from Jun 6. Flights to the island of Hawaii (once a day) and Kauai (once a day) will commence from Jun 27 and Jun 29, respectively.
Other frequency boosts include flights from Oakland and Long Beach to Honolulu, which will go up to three and two daily services, respectively. The San Jose and Maui route will operate twice a day from Jun 6.
This announcement of expansion and introduction of new routes comes after easing of COVID-19 restrictions with the coming of vaccine. This is again expected to help the carrier’s top-line performances. In order to attract more traffic, the airline offered introductory one-way fares of $129-159 till May 14.
Zacks Rank & Stocks to Consider
Southwest Airlines currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector include Landstar System, Inc. LSTR, Triton International Limited TRTN and Herc Holdings Inc. HRI. Herc Holdings sports a Zacks Rank #1 (Strong Buy), while Triton and Landstar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and Herc Holdings is projected at 12%, 10% and 42.9%, respectively.
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