Hawaiian Holdings, the parent company of Hawaiian Airlines, has posted operating income of $34 million in the fourth quarter compared to $12 million in the prior year period. For the full year, operating income grew to $134 million compared to $129 million in the prior year period. Pre-tax income of $28 million in the fourth quarter compared to a loss of $6 million in the prior year period. For the full year, pre-tax income of $86 million was flat compared to the prior year period.
GAAP net income in the fourth quarter of $17 million or $0.31 per diluted share compared to a loss of $3 million in the prior year period or $(0.07) per diluted share. For the full year, GAAP net income of $52 million or $0.98 per diluted share compared to $53 million or $1.01 per diluted share in the prior year period.
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 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.
Mark Dunkerley, the Company's President and Chief Executive Officer, commented that "the fourth quarter's results continued the trend in improving financial performance after a difficult start to the year. Demand remains strong in our markets and we have strategies to mitigate cost pressures. We are looking forward to the year ahead confident in the great job done by our employees taking care of our customers on the ground and in the air. They remain the core asset of our business and the source of great pride among us all.