BTS 58-13 Monday, December 16, 2013 Contact: Dave Smallen Tel: 202-366-5568
BTS Releases 3rd-Quarter 2013 Airline Financial Data; Scheduled Passenger Airlines Report Larger Net Profit
U.S. scheduled passenger airlines reported a net profit of $3.2 billion in the third quarter of 2013, an increase from a profit of $1.4 billion in the third quarter of 2012, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today in a release of preliminary data.
BTS, a part of the Department’s Research and Innovative Technology Administration, reported that the 26 scheduled service airlines reported an after-tax net profit for the second consecutive quarter.
In addition to the after-tax Net Income reports, the scheduled service passenger airlines reported a $4.7 billion pre-tax operating profit in the third quarter of 2013, up from $2.6 billion profit in the third quarter of 2012. The airlines reported a pre-tax operating profit – as a group - for the 11th consecutive quarter.
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 before taxes and other nonrecurring items.
Total revenue for all passenger airlines in the third-quarter of 2013 was $43.2 billion. All U.S. passenger airlines collected a total of $879 million in baggage fees and $735 million from reservation change fees from July through September 2013. 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.
Total operating expenses for all passenger airlines in the third-quarter of 2013 were $38.5 billion, of which $10.9 billion, or 28 percent, was used for fuel costs.
See BTS Airline Financials Release for summary tables and additional data. See Airline Financial Data Press Releases for historic data.
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BTS Releases 3rd-Quarter 2013 Airline Financial Data; Scheduled Passenger Airlines Report Larger Net Profit
