Hawaiian Holdings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income of $17,079,000 or $0.31 per diluted share compared to net loss of $3,408,000 or $0.07 per diluted share for the same period a year ago. Income before income taxes was $28,156,000 compared to loss before income taxes of $6,185,000 for the same period a year ago. Operating income was $33,848,000 compared to $12,237,000 for the same period a year ago. Total operating revenue was $531,885,000 compared to $492,986,000 for the same period a year ago. Adjusted net income, reflecting economic fuel expense, in the fourth quarter of $12 million or $0.22 per diluted share compared to $0.1 million in the prior year period or $0.00 per diluted share.

For the quarter, the company announced passenger revenue increased 8.5%. Load factor for the quarter was 80.8%, a 1.1% percentage point decrease year-over-year while yield increased 5%. Combined, this resulted in an improvement in RASM and PRASM of 3.3% and 3.7% year-over-year, respectively, which was in line with the expectations that they had at the beginning of the quarter. Available seat miles were 4,189.1 compared to 4,006.8 a year ago.

For the full year, the company reported net income of $51,854,000 or $0.98 per diluted share compared to $53,237,000 or $1.01 per diluted share for the same period a year ago. Income before income taxes was $86,410,000 compared to $85,786,000 for the same period a year ago. Operating income was $133,747,000 compared to $129,398,000 for the same period a year ago. Total operating revenue was $2,155,865,000 compared to $1,962,353,000 for the same period a year ago. For the full year, adjusted net income, reflecting economic fuel expense, of $47 million or $0.88 per diluted share compared to $56 million or $1.06 per diluted share in the prior year period. Return on invested capital for 2013 was 12.9% before tax and 7.7% on an after-tax basis.

For the full year 2013, the company announced passenger revenue grew to $1.9 billion, both up about 10% year-over-year. Revenue passenger miles were 13,677.6 compared to 12,217.6 a year ago. Available seat miles were 6,785.8 compared to 14,687.5 a year ago. Passenger revenue per RPM was 14.22 compared to 14.49 a year ago. Passenger load factor was 81.5% compared to 83.2% a year ago. Operating revenue per ASM was 12.84 compared to 13.36 a year ago.

For the first quarter of 2014, the company expects operating revenue per ASM of 12.37 cents. Revenues are expected to increase year-over-year with RASM expected to increase between 4.5% and 7.5% and PRASM expected to increase between 4% to 7%.

For the full year 2014, effective tax rate is expected to be in the 38% to 40% range. Full year capex is expected to be in the range of $465 million to $475 million.