Hawaiian Airlines parent Hawaiian Holdings reported net income of US$7.1 million for 2007, reversed from a net loss of US$40.5 million the previous year, on 10.7% boost in revenue to US$982.6 million.

President and CEO Mark Dunkerley called the annual results a "modest improvement" over 2006 but lamented that cost control gains were "largely offset by the rising price of fuel." He added, "Challenges posed by rising fuel prices and heavily contested markets [will] continue unabated in 2008." Those factors coupled with "a softening US economy add urgency" to continued cost improvement initiatives, he said.

Full-year expenses increased 9.9% to US$975.7 million and operating income totaled US$6.8 million, significantly improved over US$506,000 in 2006. Scheduled services traffic grew 16% to 7.93 billion RPMs on a 14.7% lift in capacity to 9.08 billion ASMs, producing a load factor of 87.4%, up 1 point.

Yield declined 3.8% to 11.21 cents as PRASM dropped 2.7% to 9.8 cents and CASM decreased 4% to 10.57 cents. CASM ex-fuel lowered 7.5% to 7.41 cents.

Fourth-quarter net income was US$3.3 million, reversed from a US$9.6 million loss the prior year.