Hawaiian Holdings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. The company reported consolidated net income for the three months ended December 31, 2011 of $20.9 million or $0.40 per diluted share, on total operating revenue of $434.0 million, compared to net income of $70.6 million, or $1.36 per diluted share, on total operating revenue of $343.8 million for the three months ended December 31, 2010. Adjusted for economic fuel expense, the company reported net income of $16.3 million, or $0.31 per diluted share for the three months ended December 31, 2011. This compares with adjusted net income of $11.3 million, or $0.21 per diluted share, for the three months ended December 31, 2010, reflecting economic fuel expense and excluding non-recurring beneficial tax adjustments. The company reported operating income of $34.5 million in the fourth quarter of 2011, compared to $22.4 million in the prior year period. Fourth quarter 2011 operating revenue was $434.0 million, a 26.2% increase compared with the fourth quarter of 2010. Income before income taxes was $32.7 million against $23.54 million for the same period a year ago. CapEx in the quarter was $108 million, which includes progress or predelivery payments of $36 million related to future aircraft and engine deliveries. For the full year 2011, the company reported consolidated net loss of $2.6 million, or $0.05 per diluted share, on total operating revenue of $1.65 billion. This compares with net income of $110.3 million, or $2.10 per diluted share, on total operating revenue of $1.31 billion for the full year 2010. Reflecting economic fuel expense and excluding non-recurring lease termination charges related to the purchase of 15 Boeing 717-200 aircraft previously under lease agreements, the Company reported adjusted net income of $43.2 million, or $0.85 per diluted share. This compares with adjusted net income of $45.4 million, or $0.87 per diluted share, for the full year 2010. For the full year 2011, the company reported operating income of $20.3 million compared with $91.3 million for the full year 2010. Excluding lease termination charges of $70.0 million recorded during the quarter ended June 30, 2011, the company reported operating income of $90.3 million for the full year 2011. Full year 2011 operating revenue was $1.65 billion, a 26.0% increase compared with full year 2010. Loss before income taxes was $1.08 million against income before income taxes of $81.989 million for the same period a year ago. CapEx for the year totaled $362 million, mostly aircraft and predelivery payment related. During the first quarter of 2012, the company expects CapEx to fall within the range of $110 million to $120 million including predelivery payments on future orders as well as the new A330 coming in March. The company expects capacity to increase between 10% and 12% compared with the same period in 2011. This increase reflects new long-haul international services initiated in the second half of 2011, the entering to service of 2 additional A330s, offset by 2 of 767 aircrafts returned at the end of their leases. For full year 2012, the company expects approximately $290 million to $300 million in CapEx. This includes $275 million of fleet-related CapEx, primarily related to the remaining payments on 4 aircrafts scheduled for delivery in 2012 and predelivery payments on aircrafts that will be arriving over the next few years. The company would expect an effective tax rate between 39% and 41%.