U.S. scheduled passenger airlines reported a first-quarter 2019 after-tax net profit of $2.1 billion, the 24th consecutive annual after tax profit, and a pre-tax operating profit of $3.3 billion, the 32nd consecutive quarterly pre-tax profit.
U.S. airline financial reports are filed quarterly with the Bureau of Transportation Statistics (BTS). See the tables that accompany this release on the BTS website for additional first-quarter 2019 (Tables 1-6) financial results.
Results for All 21 Scheduled U.S. Passenger Airlines:
Figure 1. Systemwide U.S. Scheduled Service Passenger Airlines Quarterly After Tax Net Profit, 1Q 2019 billions of dollars ($)
Source
Bureau of Transportation Statistics, Schedule P1.2 http://www.transtats.bts.gov/Fields.asp?Table_ID=295
After-tax net profit (net income)
- $2.1 billion in 1Q 2019
- down from $2.9 billion in 4Q 2018
- up from $1.7 billion in 1Q 2018
Pre-tax operating profit
- $3.0 billion in 1Q 2019
- down from $3.9 billion in 4Q 2018
- up from $2.6 billion in 1Q 2018
- Total 1Q 2019 operating revenue: $44.4 billion
- $32.5 billion from fares, 73.3% of total first-quarter operating revenue
- $1.3 billion in baggage fees, 2.9% of total operating revenue
- $662.1 million from reservation change fees, 1.5% of total operating revenue
- Total 1Q 2019 operating expenses: $41.4 billion
- Fuel costs accounted for $7.5 billion, 18.3% of total operating expenses
- Labor costs accounted for $14.2 billion, 34.6% of total operating expenses
Fees are included for calculations of net income, operating revenue and operating profit or loss.
Domestic operations, includes 21 U.S. airlines:
Figure 2. Domestic U.S. Scheduled Service Passenger Airlines Quarterly After Tax Net Profit,1Q 2019 billions of dollars ($)
Source:
Bureau of Transportation Statistics, Schedule P1.2 http://www.transtats.bts.gov/Fields.asp?Table_ID=295
After-tax domestic net profit (net income)
- $1.5 billion in 1Q 2019
- down from $2.4 billion in 4Q 2018
- up from $1.2 billion in 1Q 2018
Pre-tax domestic operating profit
- $2.2 billion in 1Q 2019
- down from $3.2 billion in 4Q 2018
- up from $2.0 billion in 1Q 2018
- Total 1Q 2019 domestic operating revenue: $33.7 billion
- $23.8 billion from fares, 70.7% of total first-quarter domestic operating revenue
- $957.4 million in baggage fees, 2.8% of total domestic operating revenue
- $464.8 million from reservation change fees, 1.4% of total domestic operating revenue
- Total 1Q 2019 domestic operating expenses: $31.5 billion
- Fuel costs accounted for $5.2 billion, 16.5% of total domestic operating expenses
- Labor costs accounted for $10.5 billion, 33.5% of total domestic operating expenses
International operations, includes 18 U.S. airlines:
Figure 3. International U.S. Scheduled Service Passenger Airlines Quarterly After Tax Net Profit, 1Q 2019 billions of dollars ($)
Source:
Bureau of Transportation Statistics, Schedule P1.2 http://www.transtats.bts.gov/Fields.asp?Table_ID=295
After-tax international net profit (net income)
- $546 million in 1Q 2019
- up from $546 million in 4Q 2018
- up from $425 million in 1Q 2018
Pre-tax international operating profit
- $747 million in 1Q 2018
- up from $703 million in 4Q 2018
- up from $611 million in 1Q 2018
- Total 1Q 2019 international operating revenue: $10.7 billion
- $8.7 billion from fares, 81.6% of first-quarter international operating revenue
- $334 million in baggage fees, 3.1% of international operating revenue
- $197 million from reservation change fees, 1.8% of international operating revenue
- Total 1Q 2019 international operating expenses: $10.0 billion,
- Fuel costs accounted for $2.3 billion, 24.3% of international operating expenses
- Labor costs accounted for $3.7 billion, 38.1% of international operating expenses
1st Quarter Margins
Net margin is the net income or loss as a percentage of operating revenue. Operating margin is the operating profit or loss as a percentage of operating revenue.
Systemwide:Net income margin:
- 4.7% in 1Q2019
- up from 3.9% in 1Q 2018
Operating margin:
- 6.6% in 1Q2019
- up from 6.1% in 1Q 2018
DomesticNet income margin:
- 4.6% in 1Q2019
- up from 3.9% in 1Q 2018
Operating margin:
- 6.5% in 1Q2019
- up from 6.3% in 1Q 2018
InternationalNet income margin:
- 5.1% in 1Q2019
- up from 4.0% in 1Q 2018
Operating margin:
- 7.0% in 1Q2019
- up from 5.8% in 1Q 2018