It's Clear: Hawaiian Airlines Is In The Doldrums

Executives continue to practice radical candor on earnings calls, listing everything that has gone wrong in the past six months, often in impressive detail.

Dear readers,

When an airline posts a -20.5 percent pre-tax margin during a non-Covid period — even in the typically weak first quarter — observers may wonder about management’s job security. But as Hawaiian executives discussed their recent troubles on Tuesday’s earnings call, I wondered if this was a case of very bad luck, as just about everything that…