Hawaiian Holdings Inc. announced unaudited consolidated earnings and operating results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total operating revenue of $632,973,000 compared to $574,154,000 for the same period a year ago. Operating income was $24,869,000 compared to $108,846,000 for the same period a year ago. Income before income taxes was $17,561,000 compared to $61,446,000 for the same period a year ago. Net income was $10,641,000 or $0.20 per basic and diluted share compared to $37,900,000 or $0.66 per diluted share for the same period a year ago. Adjusted net income was $68,773,000 or $1.28 per diluted share compared to $48,538,000 or $0.85 per diluted share year-over-year. Adjusted income before income taxes was $111,276,000 compared to $79,176,000 for the same period a year ago.

For the full year, the company reported total operating revenue of $2,145,742,000 compared to $2,317,467,000 for the same period a year ago. Operating income was $409,462,000 compared to $426,103,000 for the same period a year ago. Income before income taxes was $393,464,000 compared to $295,688,000 for the same period a year ago. Net income was $244,131,000 or $4.52 per diluted share compared to $182,646,000 or $2.98 per diluted share for the same period a year ago. Adjusted net income was $280,081,000 or $5.19 per diluted share compared to $189,272,000 or $3.09 per diluted share in the prior year. Adjusted income before income taxes was $451,401,000 compared to $306,731,000 for the same period a year ago. EBITDAR was $662,769,000 and adjusted EBITDAR was $720,706.

For the quarter, the company announced revenue passenger flown of 2,730,000 compared to 2,658,000 a year ago. Revenue passenger miles were 3,932,713,000 RPM compared to 3,639,219,000 RPM a year ago. Available seat miles were 4,570,679,000 ASM compared to 4,391,792,000 ASM a year ago. Passenger revenue per RPM was 14.09 cents compared to 13.76 cents a year ago. Passenger load factor was 86.1% compared to 82.9% a year ago. Passenger revenue per ASM was 12.13 cents compared to 11.41 cents a year ago. Operating revenue per ASM was 13.85 cents compared to 13.07 cents a year ago.

For the full year 2017, the company announced revenue passenger flown of 11,051,000 compared to 10,673,000 a year ago. Revenue passenger miles were 15,492,509,000 RPM compared to 14,462,191,000 RPM a year ago. Available seat miles were 18,384,637,000 ASM compared to 17,726,322,000 ASM a year ago. Passenger revenue per RPM was 13.86 cents compared to 14.02 cents a year ago. Passenger load factor was 84.3% compared to 81.6% a year ago. Passenger revenue per ASM was 11.68 cents compared to 11.44 cents a year ago. Operating revenue per ASM was 13.33 cents compared to 13.07 cents a year ago.

For the fourth quarter, the company reported impairment charge of $49,361,000.

For the first quarter of 2017, the company expects operating revenue per ASM to be down 4% to up 7%. ASMS are expected to be up 2.5% to up 4.5%.

For the full year 2017, the company expects ASMS to be up 1% to up 4%. For 2017, the company expects effective tax rate to be in the range of 37% to 38%. Cash tax rate is expected to be slightly lower at approximately 34% of pretax income as used up remaining NOLs in 2016. CapEx to be in the range of $410 million to $420 million for the full year 2017 as made pre-delivery payments for upcoming aircraft deliveries and invest in business.