BTS 22-14 BTS Releases 4th-Quarter and Annual 2013 Airline Financial DataU.S. scheduled passenger airlines reported a net profit of $7.3 billion in the fourth quarter of 2013, up from a loss of $188 million in the fourth quarter of 2012, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today in a release of preliminary data. The 26 scheduled service airlines reported an after-tax net profit for the third consecutive quarter. In addition to the after-tax net profit based on net income reports, the scheduled service passenger airlines reported a $2.7 billion pre-tax operating profit in the fourth quarter of 2013, up from $557 million profit in the fourth quarter of 2012. The airlines reported a pre-tax operating profit - as a group - for the 12th 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 operating revenue for all passenger airlines in the October to December fourth-quarter of 2013 was $49.1 billion. Airlines collected $29.3 billion from fares, 59.7 percent of total fourth-quarter operating revenue. Total operating expenses for all passenger airlines in the fourth-quarter of 2013 were $46.4 billion, of which $12.1 billion, or 26.1 percent, was used for fuel and $11.1 billion, or 24.0 percent, was used for labor. Passenger airlines collected a total of $797 million in baggage fees, 1.6 percent of total operating revenue, and $675 million from reservation change fees, 1.4 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. 2013 Annual Results U.S. scheduled passenger airlines reported a net profit of $12.7 billion in 2013, up from a profit of $98 million in 2012. The scheduled service airlines reported an after-tax net profit for the fourth consecutive year. In addition to the after-tax based on net income reports, the scheduled service passenger airlines reported a $12.5 billion pre-tax operating profit in 2013, up from $6.0 billion profit in 2012. The airlines reported a pre-tax operating profit – as a group - for the fifth consecutive year. Total operating revenue for all passenger airlines in the 2013 calendar year was $199.7 billion. Airlines collected $120.6 billion from fares, 60.4 percent of total annual operating revenue. Total operating expenses for all passenger airlines in 2013 were $187.3 billion, of which $50.1 billion, or 26.7 percent, was used for fuel and $45.0 billion, or 24.0 percent, was used for labor. Passenger airlines collected a total of $3.3 billion in baggage fees, 1.7 percent of total operating revenue, and $2.8 billion from reservation change fees, 1.4 percent of total operating revenue. Fees are included for calculations of net income, operating revenue and operating profit or loss.
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 4th-Quarter and Annual 2013 Airline Financial Data
