Hong Kong investment fund buys 5% of Hawaiian Airlines

Sees potential growth in traffic from Asia.

Oasis Management Company. Ltd, a Hong Kong-based investment fund, has bought a 5% stake in Hawaiian Holdings Inc, parent of Hawaiian Airlines. The company believes the airline is undervalued based on the potential growth in traffic from Asia.

Analysts said the airline, the largest airline in Hawaii and the 11th largest commercial airline in the US, will open direct routes to mainland China in 2014. Next year, Hawaiian's main new route will be three weekly flights to Beijing.

Based in Honolulu, Hawaiian has never had a fatal accident in its entire history, nor has it ever had an accident with a hull loss. It is the oldest US carrier with such a distinction in both fields.