
The top line was driven by a 9% increase in premium product ticket revenue, an 18% increase in loyalty revenue and a 31% increase in third-party maintenance revenue, which was partially offset by 13% lower cargo revenue.
Looking ahead into the first quarter of 2020, the company expects total revenue growth in the range of 5-7% and pre-tax margin to be about flat. Non-fuel unit costs are anticipated to rise by 2-3%.
For fiscal 2020, the company expects to deliver another year of strong results, including EPS of $6.75-7.75 as the demand for travel is healthy and its brand preference is growing. The company expects to generate free cash flow of $4 billion again this year, putting it on track to deliver 3-year cumulative free cash flow of over $10 billion by the end of 2020.
For the fourth quarter, domestic revenue rose by 7.7% on 1.6% higher passenger unit revenue (PRASM) and 6% higher capacity. Domestic premium product revenue grew by 11% and corporate revenue grew by 6%, driven by strength in business and leisure demand through the holiday period. Revenue and margin improved in all domestic hubs with revenue up 10% in coastal hubs and 6% in core hubs.
Atlantic revenue rose by 0.8% helped by a 2.4% higher capacity and a 1.6% decline in PRASM, driven almost entirely by foreign exchange rates. Latin revenue increased by 6.7% on continued double-digit unit revenue growth in Brazil and Mexico. However, Pacific revenue declined by 0.5% as the continued softness in China hurt unit revenue that fell by 4.4%.
In the fourth quarter, revenue passenger miles increased by 5.2% while available seat miles improved by 4.7%. Passenger revenue per available seat mile (PRASM) was up 1.4% while total revenue per available seat mile (TRASM) rose 1.7%. Adjusted TRASM increased by 2.4%, exceeding expectations on strong holiday travel demand.
Operating cost per available seat mile (CASM) was down 0.6% while CASM-Ex was up 4.4%. The passenger load factor improved by 0.4 points to 85.6%. The average price per fuel gallon decreased by 15.9% to $2.01. On an adjusted basis, the average price per fuel gallon was down 17.7% to $1.99.