(MENAFN) Hawaiian Airlines' CEO, Mark Dunkerley, stated that during the fourth quarter, the carrier incurred a USD3.4 million loss, compared with a profit of USD20.9 million in 2011's same period, reported AP.
Dunkerley attributed the loss to interest expenses that reached around USD12 million and almost USD9 million in losses on fuel derivatives.
The CEO noted that the steep weakening of the yen, continual excess capacity in certain markets and an accounting charge, were the key reasons for the disappointing performance.
He added that the company had adjusted net income of almost USD100,000, that's less than a penny per share.
For the full year, the Honolulu firm logged a profit of USD53.2 million, up from a loss of USD2.6 million a year before.
It is worth noting that Hawaiian Airlines, which plans to acquire 16 new Airbus planes for routes between Hawaii and the US West Coast, started 4 new routes in 2012, to Fukuoka and Sapporo in Japan, Brisbane in Australia and to New York.