Airline Financial Data

You are here

2014 Airline Financial Data

PDF | Excel

Updated Tuesday, May 5, 2015

U.S. scheduled passenger airlines reported a net profit of $7.5 billion in 2014 down, from $12.2 billion in 2013, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today (Table 1).

U.S.Scheduled Serive Passenger Airlines Net Income 2010-2014

Table Version | Excel

U.S.Scheduled Serive Passenger Airlines Net Income 2010-2014

As a group, the 27 U.S. airlines that operated scheduled passenger service in 2014 reported an after-tax net profit for the fifth consecutive year.

In addition to the after-tax net profit based on reports, the scheduled service passenger airlines reported a $14.6 billion pre-tax operating profit in 2014, up from $11.3 billion in 2013. As a group, the airlines reported a pre-tax operating profit for the sixth consecutive year (Tables 1, 4).

Net income or loss, and operating profit or loss, 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 before taxes and other nonrecurring items.

Total for all U.S. passenger airlines in 2014 was $169.3 billion. Airlines collected $127.5 billion from fares, 75.3 percent of total 2014 operating revenue (Table 7).

Total operating expenses for all passenger airlines in 2014 were $154.7 billion, of which fuel costs accounted for $43.4 billion, or 28.1 percent, and labor costs accounted for $40.8 billion, or 26.4 percent (Table 7).

In 2014, passenger airlines collected a total of $3.5 billion in baggage fees, 2.1 percent of total operating revenue, and $3.0 billion from reservation change fees, 1.8 percent of total operating revenue. Fees are included for calculations of net income, operating revenue and operating profit or loss (Table 7).

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.

See airline financial data press releases and the   for historic data.

Annual Totals for Top 10 Scheduled Passenger Airlines

As a group, the top 10 U.S. scheduled passenger airlines, based on operating revenue, reported an after-tax net profit of $7.1 billion in 2014, down from a profit of $11.9 billion in 2013 (Table 2). These airlines carried 79.4 percent of U.S. airlines’ in 2014 and accounted for 95.1 percent of the scheduled passenger airline after-tax net profit. 

In addition to the after-tax net income reports, the 10 top airlines reported a $14.0 billion pre-tax operating profit in 2014, up from a $10.7 billion pre-tax operating profit in 2013 (Table 2). 

Annual Margins for All Scheduled Passenger Airlines

All U.S. scheduled passenger airlines reported a combined net income margin of 4.4 percent in 2014, down from a net margin of 7.5 percent in 2013. Net margin measures net income or loss as a percentage of operating revenue. These airlines reported an operating profit margin of 8.6 percent in 2014, up from 7.0 percent in 2013. Operating margin measures operating profit or loss as a percentage of operating revenue (Table 7).

4th Quarter Results for All Scheduled Passenger Airlines

U.S. scheduled passenger airlines reported a net profit of $241 million in the fourth quarter of 2014, down from $3.1 billion in the third quarter and down from $7.2 billion in the fourth quarter of 2013 (Table 4). 

As a group, the 27 U.S. scheduled service airlines reported an after-tax net profit for the seventh consecutive quarter.

In addition to the after-tax net profit based on reports, the scheduled service passenger airlines reported a $2.0 billion pre-tax operating profit in the fourth quarter of 2014, down from $5.5 billion in the third quarter and down from $2.3 billion in the fourth quarter of 2013. As a group, the airlines reported a pre-tax operating profit for the 16th consecutive quarter (Tables 4, 6).

Total for all U.S. passenger airlines in the October-December fourth-quarter of 2014 was $40.9 billion. Airlines collected $30.6 billion from fares, 74.8 percent of total fourth-quarter operating revenue (Table 8).

Total operating expenses for all passenger airlines in the fourth-quarter of 2014 were $38.9 billion, of which fuel costs accounted for $11.0 billion, or 28.1 percent, and labor costs accounted for $10.3 billion, or 26.4 percent (Table 8).

In the fourth quarter, passenger airlines collected a total of $879 million in baggage fees, 2.2 percent of total operating revenue, and $744 million from reservation change fees, 1.8 percent of total operating revenue. Fees are included for calculations of net income, operating revenue and operating profit or loss (Table 8).

4th Quarter Totals for Top 10 Scheduled Passenger Airlines

As a group, the top 10 U.S. scheduled passenger airlines, based on operating revenue, reported an after-tax net profit of $0.2 billion in the fourth quarter of 2014, down from a profit of $3.0 billion in the third quarter and down from a profit of $7.2 billion in the fourth quarter of 2013 (Table 5). These airlines carried 79.3 percent of U.S. airlines’ in the fourth quarter and accounted for 88.8 percent of the scheduled passenger airline after-tax net profit. 

In addition to the after-tax net income reports, the 10 top airlines reported a $1.9 billion pre-tax operating profit in the fourth quarter of 2014, down from a profit of $5.2 billion in the third quarter and down from a $2.2 billion pre-tax operating profit in the fourth quarter of 2013 (Table 6). 

4th Quarter Margins for All Scheduled Passenger Airlines

All U.S. scheduled passenger airlines reported a combined net income margin of 0.6 percent in the fourth quarter of 2014, down from a net margin of 18.2 percent in the fourth quarter of 2013. Net margin measures the net income or loss as a percentage of operating revenue. These airlines reported an operating profit margin of 4.8 percent in the fourth quarter of 2014, down from 5.8 percent in the fourth quarter of 2013. Operating margin measures the operating profit or loss as a percentage of operating revenue (Table 8).

Reporting notes

Additional airline financial data can be found on the BTS website, including industry statistics for other individual low-cost and regional airlines. See tables for , and . See the BTS for more detailed data.

Data are compiled from quarterly financial and monthly traffic reports filed with BTS by commercial air carriers. U.S. scheduled passenger airlines are the U.S. airlines that provide scheduled passenger service within the U.S. and between the U.S. and foreign points. Cargo carriers and foreign airlines operating to and from the U.S. are not included.

Financial and traffic data include data received by BTS as of April 20. Revised carrier data and late data filings will be made available monthly on on the Monday following the second Tuesday of the month. All data are subject to revision. BTS will release first-quarter 2015 data on July 21.

Table 1. Annual U.S. Scheduled Service Passenger Airlines Financial Reports

Reports from 27 airlines in 2014

(Millions of dollars)

 20102011201220132014Dollar Change ($ in Millions) 2013-2014
Net Income2,263.5489.698.312,168.57,459.2-4,709
Operating Profit/Loss8,309.35,246.06,003.311,311.014,605.13,294
Operating Revenue*138,827.0153,293.9156,470.3161,596.7169,275.17,678
Fares103,978.4114,299.4115,974.8121,332.9127,454.06,121
Baggage Fees3,401.13,392.73,449.73,350.13,529.3179
Reservation Change Fees2,297.62,389.52,538.22,814.12,980.7167
Operating Expenses130,517.7148,048.0150,467.0150,285.7154,670.14,384
Fuel33,158.643,754.844,901.942,628.943,431.5803
Labor34,120.935,377.037,195.338,042.740,769.82,727

Source: Bureau of Transportation Statistics, Form 41; Schedules P1.2 and P6

* Passenger airline operating revenue includes two other categories. 1) Transport-related is revenue from services which grow from and are incidental to the air transportation services performed by the air carrier. Examples are in-flight onboard sales (food, liquor, pillows, etc), code share revenues, revenues from associated businesses (aircraft maintenance, fuel sales, restaurants, vending machines, etc). 2) Miscellaneous operating revenue includes pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees. See the P1.2 database .

Table 2. Annual Large Airline Systemwide (Domestic + International) Net Income

Ranked by 2014 Operating Revenue

(millions of dollars)

RankAirlineNet IncomeOperating Profit or LossOperating RevenueRevenue from FaresPercent of Revenue from Fares (%)
1Delta6492,92540,42728,2250.70
2United11142,37638,90126,7850.69
3American1,3102,33827,14020,3450.75
4Southwest*11372,22518,60517,7040.95
5US Airways14821,92815,7509,9700.63
6JetBlue3965085,8175,3540.92
7Alaska5999585,3633,7920.71
8Hawaiian802492,3112,0380.88
9Spirit2813551,9321,2210.63
10SkyWest471221,8891,8220.96
10-Carrier Total7,09213,984158,134117,2560.74
All Passenger Airlines7,45914,605169,275127,4540.75

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2

* In 2014, Southwest Airlines and AirTran Airways reported financial data jointly but reported passenger data separately.

Table 3. Annual Large Airline Systemwide (Domestic + International) Expense

Ranked by 2014 Operating Revenue

(millions of dollars)

RankAirlineOperating ExpensesFuel CostsPercent for Fuel (%)Labor CostsPercent for Labor (%)
1Delta37,50211,65331.19,36125.0
2United36,5259,49726.09,15025.1
3American24,8037,19629.05,99024.2
4Southwest*16,3805,29332.35,70734.8
5US Airways13,8223,37224.42,99921.7
6JetBlue5,3091,91336.01,37225.8
7Alaska4,5051,21727.01,11824.8
8Hawaiian2,06267732.847322.9
9Spirit1,57661338.931419.9
10SkyWest1,7671759.968838.9
10-Carrier Total144,25141,60428.837,17125.8
All Passenger Airlines154,67043,43228.140,77026.4

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2

* In 2014, Southwest Airlines and AirTran Airways reported financial data jointly but reported passenger data separately.

Table 4. Quarterly U.S. Scheduled Service Passenger Airlines Financial Reports

Reports from 27 airlines in 4Q 2014

(Millions of dollars)

 4Q 20131Q 20142Q 20143Q 20144Q 2014Dollar Change 4Q2013-4Q2014
Net Income7,1845073,5783,133241-6,944
Operating Profit/Loss2,2851,6585,4995,4771,971-314
Operating Revenue*39,54938,45944,62045,28740,9101,360
Fares29,50728,73133,67034,31630,5791,072
Baggage Fees79779190096087982
Reservation Change Fees67572675375974469
Operating Expenses37,26436,80139,12239,80938,9381,674
Fuel10,22010,19010,88011,41110,950730
Labor9,4849,72910,29410,48210,265781

Source: Bureau of Transportation Statistics, Form 41; Schedules P1.2 and P6

* Passenger airline operating revenue includes two other categories. 1) Transport-related is revenue from services which grow from and are incidental to the air transportation services performed by the air carrier. Examples are in-flight onboard sales (food, liquor, pillows, etc), code share revenues, revenues from associated businesses (aircraft maintenance, fuel sales, restaurants, vending machines, etc). 2) Miscellaneous operating revenue includes pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees. See the P1.2 database .

Table 5. Quarterly Large Airline Systemwide (Domestic + International) Net Income

Ranked by 4Q 2014 Operating Revenue

(millions of dollars)

RankAirline4Q 20131Q 20142Q 20143Q 20144Q 2014Dollar Change 4Q2013-4Q2014
1Delta8,482218807362-703-9,185
2United154-580769933-9-163
3American-1,7914012654661781,969
4Southwest213152465329190-22
5US Airways-130126605490261391
6JetBlue47-1231798740
7Alaska769316619214771
8Hawaiian19-3303815-4
9Spirit4360106675815
10SkyWest1871932-11-29
10-Carrier Total7,1314743,4632,986214-6,917
All Passenger Airlines7,3465073,5783,133241-7,106

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2

* In 2014, Southwest Airlines and AirTran Airways reported financial data jointly but reported passenger data separately.

Table 6. Quarterly Large Airline Systemwide (Domestic + International) Operating Profit/Loss

Ranked by 4Q 2014 Operating Revenue

(millions of dollars)

RankAirline4Q 20131Q 20142Q 20143Q 20144Q 2014Dollar Change 4Q2013-4Q2014
1Delta8706721,6161,409-772-1,642
2United238-3419061,185626388
3American28157771869834564
4Southwest386215775614620235
5US Airways3189678566495493
6JetBlue1114314116316150
7Alaska131147257314240108
8Hawaiian3412541067743
9Spirit68601051009022
10SkyWest39214264-5-44
10-Carrier Total2,1591,5965,2925,2191,877-282
All Passenger Airlines2,2851,6585,4995,4771,971-314

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2

* In 2014, Southwest Airlines and AirTran Airways reported financial data jointly but reported passenger data separately.

Table 7. Jan-Dec U.S. Scheduled Passenger Airlines Revenue, Expenses and Profits

Reports from 27 airlines in 2014

(millions of dollars)

 Jan-Dec 2013Jan-Dec 2014Change2013-2014 % Change% of YTD 2014 Revenue or Expense Total
Operating Revenue     
Passenger Fares (scheduled/charter)121,332.9127,454.06,121.15.0475.29
Cargo2,961.43,078.1116.73.941.82
Baggage3,350.13,529.3179.25.352.08
Reservation Changes2,814.12,980.7166.65.921.76
Transport-Related*27,507.628,125.2617.62.2516.61
Other**3,630.64,109.0478.413.182.43
Total Operating Revenue161,596.7169,276.47,679.74.75100.00
Operating Expense     
Fuel42,628.943,431.5802.61.8828.08
Labor38,042.740,769.82,727.17.1726.36
Rentals8,757.68,507.5-250.2-2.865.50
Depreciation & Amortization6,607.37,080.5473.27.164.58
Landing Fees2,739.02,803.464.42.351.81
Maintenance Materials2,710.92,881.1170.26.281.86
Transport-Related*20,960.620,711.0-249.6-1.1913.39
Other***27,838.728,486.0647.32.3318.42
Total Operating Expense150,285.7154,670.74,385.02.92100.00
Profits or Losses     
Operating Profit11,311.014,605.13,294.129.12N/A
Operating Margin**** (%)7.08.61.6N/AN/A
Nonoperating Income/(Expense)#-6,129.2-4,752.71,376.5-22.46N/A
Pre-Tax Income5,181.89,852.44,670.690.13N/A
Income Tax Benefit/(Expense)6,997.2-2,393.2-9,390.4-134.20N/A
Other Income/(Expense)-10.50.010.5-100.00N/A
Net Income12,168.57,459.2-4,709.3-38.70N/A
Net Margin## (%)7.54.4-3.1N/AN/A

Source: Bureau of Transportation Statistics, Form 41; Schedules P1.2 and P6

* Transport-Related is revenue/expenses from services which grow from and are incidental to the air transportation services performed by the air carrier. Examples are in-flight onboard sales (food, liquor, pillows, etc), code share revenues, revenues and expenses from associated businesses (aircraft maintenance, fuel sales, restaurants, vending machines, etc).

** Other revenue includes miscellaneous operating revenue (including pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees) and public service revenues subsidy.

*** Other expense includes purchase of materials such as passenger food and other materials; and purchase of services such as advertising, communication, insurance, outside flight equipment maintenance, traffic commissions and other services.

**** Operating margin is the operating profit or loss as a percentage of operating revenue

# Nonoperating Income and Expense includes interest on long-term debt and capital leases, other interest expense, foreign exchange gains and losses, capital gains and losses and other income and expenses.

## Net margin is the net income or loss as a percentage of operating revenue.

Table 8. Quarterly U.S. Scheduled Passenger Airlines Revenue, Expenses and Profits

Reports from 27 airlines in 4Q 2014

(millions of dollars)

 4Q 20134Q 2014Change2013-2014 % Change% of 4Q 2014 Revenue or Expense Total
Operating Revenue     
Passenger Fares (scheduled/charter)29,507.030,579.01,072.03.6374.75
Cargo762.6821.659.07.742.01
Baggage797.1879.182.010.282.15
Reservation Changes674.7743.568.810.201.82
Transport-Related*6,945.76,859.9-85.8-1.2416.77
Other**862.01,026.5164.519.082.51
Total Operating Revenue39,549.140,909.61,360.53.44100.00
Operating Expense     
Fuel10,219.810,950.1730.37.1528.12
Labor9,483.910,264.6780.78.2326.36
Rentals2,130.02,097.9-32.1-1.515.39
Depreciation & Amortization1,691.71,819.0127.37.524.67
Landing Fees653.4696.943.56.661.79
Maintenance Materials618.2736.6118.419.161.89
Transport-Related*5,243.14,954.5-288.6-5.5012.72
Other***7,223.87,418.1194.32.6919.05
Total Operating Expense37,263.938,937.81,673.94.49100.00
Profits or Losses     
Operating Profit2,285.21,971.2-314.0-13.74N/A
Operating Margin**** (%)5.784.8-1.0N/AN/A
Nonoperating Income/(Expense)#-3,127.3-1,739.41,387.9-44.38N/A
Pre-Tax Income-842.1231.81,073.9-127.53N/A
Income Tax Benefit/(Expense)8,026.48.9-8,017.5-99.89N/A
Other Income/(Expense)-0.10.00.1-100.00N/A
Net Income7,184.2240.7-6,943.5-96.65N/A
Net Margin## (%)18.170.6-17.6N/AN/A

Source: Bureau of Transportation Statistics, Form 41; Schedules P1.2 and P6

* Transport-Related is revenue/expenses from services which grow from and are incidental to the air transportation services performed by the air carrier. Examples are in-flight onboard sales (food, liquor, pillows, etc), code share revenues, revenues and expenses from associated businesses (aircraft maintenance, fuel sales, restaurants, vending machines, etc).

** Other revenue includes miscellaneous operating revenue (including pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees) and public service revenues subsidy.

*** Other expense includes purchase of materials such as passenger food and other materials; and purchase of services such as advertising, communication, insurance, outside flight equipment maintenance, traffic commissions and other services.

**** Operating margin is the operating profit or loss as a percentage of operating revenue

# Nonoperating Income and Expense includes interest on long-term debt and capital leases, other interest expense, foreign exchange gains and losses, capital gains and losses and other income and expenses.

## Net margin is the net income or loss as a percentage of operating revenue.

Updated: Monday, December 11, 2017
https://photolifeway.com

iwashka.com.ua

www.imr.net.ua/467-pakety