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Monday, June 15, 2009

First-Quarter 2009 Airline Financial Data: Network Airlines Report Sixth Consecutive Quarterly Loss Margin

Monday, June 15, 2009 - The seven network airlines, as a group, reported an operating loss margin of -4.0 percent in the first quarter of 2009, the sixth consecutive quarterly loss margin since the group reported a profit margin in the third quarter of 2007, the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation reported today in a release of preliminary data.

BTS, a part of the Research and Innovative Technology Administration, reported that five of the seven reporting network airlines, most of the industry's largest carriers, reported an operating loss margin in the January-to-March period. Only Alaska Airlines and Northwest Airlines reported an operating profit.

The low-cost and regional airlines groups both reported operating profit margins for the first quarter. Only low-cost carriers Virgin America and Southwest Airlines and regional carrier ExpressJet Airlines reported loss margins. The loss for Southwest was the first after 71 consecutive quarters with an operating profit. Operating margin measures profit or loss as a percentage of the airline's total operating revenue.

The seven network airlines spent 22.2 percent of their operating expenses in the first quarter of 2008 on fuel, compared to 14.7 percent five years earlier in the first quarter of 2004. For airline fuel expenses.

The total industry collected $566.3 million in baggage fees in the first quarter of 2009, up 13.6 percent from the $498.6 million collected in the fourth quarter of 2008 and up 362.1 percent from the $122.6 million collected in the first quarter of 2008. Beginning in the second quarter 2008, most of the scheduled passenger carriers began charging for the first and second bags checked by passengers. Previously, additional charges were not applied until the third bag was checked. American Airlines collected $108.1 million in the first quarter of 2009, the most of any carrier. for the 10 airlines that collected the most in baggage fees in the first quarter.

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