Hawaiian Airlines achieved record revenue in the third quarter but saw its net income decline 27 percent after taking two charges totaling $50 million.

The state’s largest carrier said Thursday that earnings declined to $74.6 million, or $1.39 a share, compared with $102.5 million, or $1.91 a share, in the year-earlier quarter. Hawaiian incurred $50 million in charges associated with the settlement and termination of a machinists’ pension plan, and for the sale of the pilots’ post-retirement medical plan.

Excluding special items, Hawaiian had adjusted net income of $102.6 million, or $1.92 a share. On that basis, Hawaiian topped analysts’ consensus estimate of $1.85 a share. In the year-earlier quarter the airline had adjusted net income of $103.1 million, or $1.92 a share.

“Our earnings growth this quarter reflects a continuation of most of the trends we’ve experienced over the past several quarters,” Hawaiian President and CEO Mark Dunkerley said on the company’s earnings conference call. “Demand for the Hawaii vacation remains strong. Overall industry capacity growth has been manageable, and fuel costs that are rising slightly during the quarter remain well below historic levels. The third quarter is our season of peak demand.”

Revenue rose 7.1 percent to a record $719.6 million from $671.8 million while a strong summer performance in the airline’s North America and international markets led to record cargo revenue in the quarter.

Hawaiian said a key figure, passenger revenue (or scheduled tickets) for every seat flown one mile, rose 6 percent from the year-earlier period while the airline’s total operating revenue for every seat flown one mile improved 5.8 percent.

“We expect these results to lead the U.S. industry again this period, extending our streak of surpassing all our peers in unit revenue growth to seven consecutive quarters, which is a pretty remarkable achievement,” Hawaiian Chief Commercial Officer Peter Ingram said.

Ingram also said Hawaiian is going to wind down its code-share relationship with All Nippon Airways as Hawaiian gets set for its recently announced partnership with Japan Airlines. In the initial phase the JAL partnership will involve mutual code sharing, lounge access and a loyalty program. In addition, Hawaiian will gain access to JAL’s in-house travel agency JALPAK for sales in Japan.

Dunkerley emphasized the importance of the association with JALPAK, the third-largest agency for Japan-to-Hawaii travel, “in a market where well over 80 percent of all tickets are distributed through travel agencies.”

“Phase 1 of the agreement will come into force with the summer traffic season next March, subject of course to the receipt of government approvals,” he said.

Hawaiian’s stock fell 10 cents Thursday to $40.05. The financial results were announced after the market closed.