Please don't miscontrue an observation as being in any way disrespectful to the Dutch. I have a wonderful friend from Holland and I must tell you that she is quite intelligent...and she has the most wonderful stories to tell.
It is just that companies sometimes make adjustments to their logos and/or their name when encountering other cultures. Example, Bic corporation, a manufacturer of writing instruments changed it's name from "Bich" to "Bic" to improve it's image in North American markets. Their research indicated that people of this particular region of the world immediately associated the word "bich" with "bitch". Of course, corporate management didn't think that was an image they wished to promote, hence the slight name alteration. Similarly, Air Holland, although neither specifically designed nor intended to please North American markets, does have a presence both via the internet and with international travelers flying into airports at which Air Holland maintains a presence. So if you hear of a North American chuckling a little upon spotting the word "HO", it doesn't mean the we think any less of the Dutch or their wonderful airline. It's a beautiful country and a beautiful airline. Hold your head high and be proud. After all, cultural differences make the world an interesting and sometimes humorous place.
Keep Air Holland flying high!