U.S. Passenger Airlines Report After-tax Net Profit of $5.5 Billion for 2nd Quarter of 2015

U.S. Department of Transportation Releases 2nd Quarter (April-June) of 2015 Airline Financial Data

U.S. scheduled passenger airlines reported an after-tax net profit of $5.5 billion in the second quarter of 2015, up from $3.1 billion in the first quarter of 2015 and up from $3.6 billion in the second quarter of 2014, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today.

The 26 U.S. scheduled service passenger airlines reported an after-tax net profit as a group for the ninth consecutive quarter.

In addition to the after-tax net profit of $5.5 billion based on net income reports, the scheduled service passenger airlines reported $8.2 billion in pre-tax operating profit in the second quarter of 2015, up from $5.1 billion in the first quarter of 2015 and up from $5.5 billion in the second quarter of 2014. The airlines reported a pre-tax operating profit – as a group – for the 17th consecutive quarter.

Net income 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 operating revenue for all U.S. passenger airlines in the April-June second-quarter of 2015 was $43.9 billion. Airlines collected $33.2 billion from fares, 75.7 percent of total second-quarter operating revenue.

Total operating expenses for all passenger airlines in the second-quarter of 2015 were $35.8 billion, of which fuel costs accounted for $7.9 billion, or 22.1 percent, and labor costs accounted for $11.0 billion, or 30.7 percent.

In the second quarter, passenger airlines collected a total of $962 million in baggage fees, 2.2 percent of total operating revenue, and $773 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.

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 BTS Airline Financials Release for summary tables and additional data. See airline financial data press releases and the airline financial databases for historic data.

About Mike Neuman

TwEnvironmentalist; Father; Senior Citizen; Husband, Former School Crossing Guard for City of Madison; Bike to Work Advocate; Animal/Children/People Lover (in general); Volunteer for Habitat for Humanity, Madison, Wisconsin, Anti-long distance travel (via fossil fuel burning); Against militarism in any form; Strong believer in people everywhere having the right to speak their minds openly, without any fear of reprisal, regarding any concerns; for those in authority to listen attentively AND, as warranted, ACT AS NECESSARY AND IN A TIMELY MANNER TO REDUCE OR ELIMINATE those concerns. For 59 years of my and my identical twin broth. er, Pat (from March 16,1950 until my brother, Pat, took his own life in June 2009 after his being fired from his NWS job and was then “allowed” to retire early from the federal government. He was fired despite having a long time and successful career as a flood forecaster with the Kansas City National Weather Service. Pat took a new position in the Midwest Regional Office in Minneapolis and the office he worked at moved to a new location outside the central city where there was less highway traffic to contend fowith a few years afterwards. Unfortunately, Pat’s work for the NWS went sour after he began to see the evidence for concern about rising global temperatures shortly after relocating to Minneapolis, and how they appeared to effect of flooding on the Red River that flows out of Canada before entering the U.S. in North Dakota. Pat and I conversed on a regular basis with other scientists on the Yahoo Group named “Climate Concern “ and by personal email. The NWS denied his recommendation to give his public presentation o n his research at the “Minneapolis Mall of America” in February 2000, which deeply affected h,im. He strongly believed the information ought be shared with the public to which I concurred. That was the beginning of the vendetta against my brother, Patrick J. Neuman, for speaking strongly of the obligations the federal government was responsible for accurately informing the citizenry. A similar response to my raising the issue of too many greenhouse gases being emitted by drivers of vehicles on Wisconsin highway system, my immediate supervisors directed: “that neither global warming, climate change nor the long term impacts upon the natural resources of Wisconsin from expansion of the state highway system were to be any part of my job requirements, and that I must not communicate, nor in a memorandum to all the bureau, shall any person who works in the same bureau I do communicate with me, neither verbally on the phone, by email

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