Hawaiian Holdings, parent company to Hawaiian Airlines, reported a 2012 fourth quarter loss of $3.4 million, a substantial setback from the $20.9 million profit the company posted during the same three-month period a year prior.

Last year was a significant improvement for the airline overall, however, with Hawaiian Holdings reporting a net income of $52.2 million for 2012 while total operating revenue jumped 18.9%, to $1.96 billion, according to figures released by the company Jan. 29.

Hawaiian suffered a $2.6 million loss in 2011 on total operating revenue of $1.6 billion.
“The sharp weakening of the yen, continued excess capacity in certain markets and an accounting charge all worked to depress our earnings for the period despite many other things going right for the business,”
Hawaiian’s president and CEO, Mark Dunkerley, said in a statement.

The airline launched four new nonstop, long-haul routes in 2012, including three new international segments and its new Honolulu-to-New York Kennedy service, and saw its revenue-producing miles surge more than 20% year over year, to 12.2 billion.
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