BTS, a part of the Department’s Research and Innovative Technology Administration, reported that the 10 largest airlines, as ranked by total number of passengers in the fourth quarter, reported a net loss as a group in the last quarter after two quarters of profits. These 10 airlines carried 76.1 percent of U.S. airlines’ scheduled service passengers in the fourth quarter of 2012. See Airline Financial Data Press Releases for historic data.

For the full year 2012, the 10 largest airlines reported net income of $201 million, up from $0.5 million loss in 2011.

BTS is reporting numbers for Net Income or Loss as well as for Operating Profit or Loss. These are two different measures of airline financial performance. Net Income or Loss may include non-operating income and expenses, nonrecurring items or income taxes. Operating Profit or Loss is calculated from operating revenues and expenses.

In contrast to the Net Income reports, the top 10 airlines reported a 1.2 percent operating profit margin in the fourth quarter of 2012, down from 1.4 percent in the fourth quarter of 2011.

The 10 largest airlines achieved an operating profit margin - as a group - in each of the last seven quarters. Together, they posted a profit of $397 million in the fourth quarter.

For the full year 2012, the 10 largest airlines reported an operating profit margin of 3.7 percent, up from 3.2 percent in 2011.

Total revenue for all passenger airlines in the fourth-quarter of 2012 was $37.6 billion. All U.S. passenger airlines collected a total of $841 million in baggage fees and $610 million from reservation change fees from October through December 2012. Fees are included for calculations of Net Income, Operating Revenue and Operating Profit or Loss.

Total revenue for all passenger airlines for the full year 2012 was $159.5 billion. All U.S. passenger airlines collected a total in 2012 of $3.5 billion in baggage fees and $2.6 billion from reservation change fees.

Baggage fees and reservation change fees are the only ancillary fees paid by passengers that are reported to BTS as separate items. Other fees, such as revenue from seating assignments and on-board sales of food, beverages, pillows, blankets, and entertainment are combined in different categories and cannot be identified separately.

Total operating expenses for all passenger airlines in the fourth-quarter of 2012 were $37.0 billion, of which $10.9 billion, or 29.3 percent, was used for fuel costs.

Total operating expenses for all passenger airlines for the full year 2012 were $153.6 billion, of which $45.7 billion, or 29.7 percent, was used for fuel costs. See the database for expense and fuel data.

Additional airline financial data can be found on the BTS website, including industry statistics for other individual low-cost and regional airlines. Operating profit/loss and operating revenue can be found on these tables. Fuel cost and consumption numbers are also available from these tables. See the BTS financial databases for more detailed data.

Data are compiled from quarterly financial and monthly traffic reports filed with BTS by commercial air carriers. Financial and traffic data include data received by BTS as of May 8. Revised carrier data and late data filings will be made available monthly on TranStats on the Monday following the second Tuesday of the month. All data are subject to revision. BTS will release first-quarter 2013 data on June 27.
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Media Contact:
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