BTS 26-16 Advisory Monday, May 2, 2016 Contact: Dave Smallen Tel: 202-366-5568 BTS Releases 2015 Airline Financial Data
U.S. scheduled passenger airlines reported an after-tax net profit of $25.6 billion in 2015 up from $7.5 billion in 2014, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today.
As a group, the 25 U.S. airlines that operated scheduled passenger service in 2015 reported an after-tax net profit for the sixth consecutive year.
In addition to the after-tax net profit based on net income reports, the scheduled service passenger airlines reported a $28.0 billion pre-tax operating profit in 2015, up from $14.6 billion in 2014. As a group, the airlines reported a pre-tax operating profit for the seventh consecutive year.
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 operating revenue for all U.S. passenger airlines in 2015 was $168.9 billion. Airlines collected $126.9 billion from fares, 75.1 percent of total 2015 operating revenue.
Total operating expenses for all passenger airlines in 2015 were $140.9 billion, of which fuel costs accounted for $27.0 billion, or 19.2 percent, and labor costs accounted for $45.4 billion, or 32.2 percent.
In 2015, passenger airlines collected a total of $3.8 billion in baggage fees, 2.3 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.
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.
4th Quarter Results for All Scheduled Passenger Airlines
U.S. scheduled passenger airlines reported an after-tax net profit of $7.7 billion in the fourth quarter of 2015, down from $9.3 billion in the third quarter and up from $242 million in the fourth quarter of 2014.
As a group, the 25 U.S. scheduled service airlines reported an after-tax net profit for the eighth consecutive quarter.
In addition to the after-tax net profit based on net income reports, the scheduled service passenger airlines reported a $5.9 billion pre-tax operating profit in the fourth quarter of 2015, down from $8.8 billion in the third quarter and up from $2.0 billion in the fourth quarter of 2014. As a group, the airlines reported a pre-tax operating profit for the 17th consecutive quarter.
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.
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BTS Releases 2015 Airline Financial Data
