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3rd-Quarter 2011 Airline Financial Data: Network Airlines, Low-Cost Airlines and Regional Airlines All Report Profits

3rd-Quarter 2011 Airline Financial Data: Network Airlines, Low-Cost Airlines and Regional Airlines All Report Profits

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Figure 1: Scheduled Passenger Airline Profit/Loss 1Q 2008-3Q 2011

Table Version | Excel | CSV

Figure 1: Scheduled Passenger Airline Profit/Loss 1Q 2008-3Q 2011

Figure 2: Scheduled Passenger Airline Revenue from Baggage, Reservation Change Fees 1Q 2008-3Q 2011

Table Version | Excel | CSV

Figure 2: Scheduled Passenger Airline Revenue from Baggage, Reservation Change Fees 1Q 2008-3Q 2011

Monday, March 12, 2012 - Scheduled passenger airlines reported a profit margin of 6.8 percent in the third quarter of 2011, down from the 10.4 percent profit margin in the third quarter of 2010, BTS reported today in a release of preliminary data (Table 1). 

BTS, a part of the Research and Innovative Technology Administration, reported that the network airlines reported an operating profit margin of 7.1 percent as a group in the July-to-September 2011 period. The low-cost group's profit margin was 6.0 percent, and the regional groups was 2.5 percent (Table 1). See Airline Financial Data Press Releases for historic data.

As part of their third-quarter revenue, the airlines collected $898 million in baggage fees (Table 1A) and $603 million from reservation change fees (Table 1B) from July to September 2011.

In addition to baggage and reservation change fees, airlines reported ancillary revenue of $872 million from passengers and from other sources. This revenue category includes revenue from frequent flyer award program mileage sales and pet transportation fees (Table 1D). Total third quarter 2011 airline revenue from all ancillary sources that can be identified, including fees and frequent flyer sales was $2.381 billion, with Delta Air Lines reporting the most, $814 million (Table 1E).  

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 reported in a different category with other items and cannot be identified separately.

The baggage and reservation change fees from passengers combined with ancillary revenue from other sources constituted 5.8 percent of the total revenue of the 27 carriers that reported receiving ancillary revenue. Spirit Airlines reported the largest percent of operating revenue from ancillary revenue of any carrier, 31.1 percent (Table 1F). For additional Miscellaneous Operating Revenue data, go to BTS Schedule P-1.2.

Operating Margins

The six network carriers posted a profit margin of 7.1 percent in the third quarter with a combined operating profit of $2.2 billion (Table 2).  Compared to last year, in the third quarter of 2010, the network carriers reported a profit margin of 10.5 percent with a profit of $3.0 billion. See Table 1 in third-quarter 2010 press release.

The seven low-cost carriers reported a 6.0 percent profit margin, with profits of $408 million for the 12th consecutive profitable quarter (Table 3). The six regional airlines reported a 3.5 percent profit margin that included profits of $65 million (Table 4).

Operating margin measures profit or loss as a percentage of the airlines total operating revenue. The top three operating profit margins of the three carrier groups were reported by network carriers Alaska Airlines and United Airlines and low-cost carrier Spirit (Tables 2, 3). ExpressJet Airlines reported the top loss margin of any carrier (Table 4).

Network carriers operate a significant portion of their flights using at least one hub where connections are made for flights on a spoke system. Low-cost carriers are those that the industry recognizes as operating under a low-cost business model, with lower infrastructure and aircraft operating costs and with less reliance on the hub-and-spoke system. Regional carriers provide service from small cities, using primarily regional jets to support the network carriers hub and spoke systems. The selected network, low-cost and regional groups consist of those airlines in each group with the highest reported operating revenue in the most recent complete calendar year.

For other third-quarter 2011 financial data with comparisons to previous quarters for carrier groups and for the largest network, low-cost and regional airlines, see the following tables:

Operating Profit/Loss Margins Tables 1-4

Baggage Fees Table 1A

Reservation Change Fees Table 1B

Fees Compared to Profit/Loss Table 1C

Miscellaneous Operating Revenue (frequent flyer award program mileage sales and pet transportation fees) Table 1D

Ancillary Revenue Table 1E

Ancillary Revenue Compared to Total Operating Revenue Table 1F

Fuel Costs Tables 5-8

Unit Costs Tables 9-12

Unit Revenues Tables 13-16

Passenger Revenue Yield Tables 17-20

For additional fee data, see tables for baggage fees and reservation change fees. For additional Miscellaneous Operating Revenue data, go to BTS Schedule P-1.2.

Reporting Notes

This release consists of domestic and international, or system, financial reports for the airlines. For additional revenue and operating profit/loss numbers, go to the BTS home page and use the links in the Airline Industry box.

Airline financial data from the third quarter of 2011 and previous quarters are posted on the BTS website. Data are compiled from quarterly financial and monthly traffic reports filed with BTS by commercial air carriers.

Financial and traffic data are preliminary and include data received by BTS as of Feb. 27. Revised carrier data and late data filings will be made available monthly on TranStats on the Monday following the second Tuesday of the month. Data are subject to revision.

Table 1: Passenger Airline System* Quarterly Operating Profit/Loss Margin (In Percent)

Ranked by 3rd Quarter 2011 Margin

(Operating Profit/Loss as Percent of Total Operating Revenue)

Excel | CSV

3Q 2011 Rank Airline Group 3Q 2010 (%) 4Q 2010 (%) 1Q 2011 (%) 2Q 2011 (%) 3Q 2011 (%) 3rd Quarter Operating Profit/Loss $(Millions)
1 Network 10.5 2.6 -1.1 5.5 7.1 2,210
2 Low-Cost 11.0 5.1 1.5 4.2 6.0 408
3 Regional 7.4 2.2 2.2 2.5 3.5 65
  21-Carrier Total 10.4 3.0 -0.5 5.1 6.8 2,683

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2

* System = domestic + international

Table 1A: Baggage Fee Collections

Ranked by 3rd Quarter 2011 Baggage Fee Revenue

Dollars in Millions (000,000)

Excel | CSV

3Q 2011 Rank Airline 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 Percent Change 3Q 2010-3Q 2011 (%)
1 Delta 259.5 219.1 198.0 226.3 232.5 -10.4
2 American 151.2 148.9 137.2 156.1 152.8 1.1
3 US Airways 131.8 125.5 120.9 134.8 128.8 -2.3
4 Continental 90.5 83.5 76.3 91.3 94.3 4.2
5 United 83.9 73.4 66.2 71.1 74.8 -10.8
6 Alaska 34.4 28.0 36.2 40.3 46.1 34.0
7 AirTran 38.1 39.8 39.3 46.1 42.8 12.3
8 Spirit 22.9 25.7 28.2 34.4 36.9 61.1
9 Frontier 14.7 18.0 16.7 18.0 20.2 37.4
10 JetBlue 15.5 13.7 14.3 15.9 17.4 12.3
  Industry Total* 906.4 828.8 783.7 886.7 898.2 -0.9

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2.

* 16 carriers reported baggage fee revenue in 3Q 2011

Note: For other carriers and additional historic data, see Passenger Baggage

Note: Percent changes based on numbers prior to rounding.

Note: Detail may not add to total.

Table 1B: Reservation Change Fee Collections

Ranked by 3rd Quarter 2011 Reservation Change Fee Revenue

Dollars in Millions (000,000)

Excel | CSV

3Q 2011 Rank Airline 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 Percent Change 3Q 2010-3Q 2011 (%)
1 Delta 183.3 168.2 190.6 201.4 195.8 6.8
2 American 117.7 118.3 123.4 126.6 123.7 5.1
3 United 84.7 78.5 84.0 80.8 85.1 0.5
4 US Airways 63.6 61.2 70.8 71.9 68.7 8.0
5 Continental 61.0 56.4 59.9 61.1 59.9 -1.8
6 JetBlue 29.0 29.3 30.3 30.9 31.2 7.6
7 AirTran 11.9 12.1 11.7 13.5 13.2 10.9
8 Spirit 5.6 6.5 6.1 6.3 6.6 17.9
9 Virgin America 4.4 4.8 5.1 5.1 5.7 29.5
10 Frontier 4.1 4.6 5.7 6.3 4.5 9.8
  Industry Total* 590.4 559.5 597.8 612.4 602.9 2.1

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2.

* 15 carriers reported reservation cancellation fee revenue in 3Q 2011

Note: For other carriers and additional historic data, see Reservation Cancellation Fees

Note: Percent changes based on numbers prior to rounding.

Note: Detail may not add to total.

Table 1C Scheduled Passenger Airline Profit/Loss and Revenue from Baggage, Reservation Change Fees 1Q 2008-3Q 2011

Dollars in Millions (000,000)

Excel | CSV

  Profit/Loss* Fee Revenue**
1Q 2008 -1,324 499
2Q 2008 -1,663 577
3Q 2008 -1,578 784
4Q 2008 -1,397 958
1Q 2009 -659 1,165
2Q 2009 361 1,276
3Q 2009 685 1,353
4Q 2009 61 1,307
1Q 2010 12 1,322
2Q 2010 3,088 1,485
3Q 2010 3,740 1,497
4Q 2010 1,003 1,388
1Q 2011 -160 1,382
2Q 2011 1,976 1,499
3Q 2011 2,683 1,501

Source: Bureau of Transportation Statistics, Schedule P 1.2

* Profit/Loss of the 6 network, 7 low-cost and 7 regional airlines with highest revenue.

** Fee revenue for airlines reporting either baggage or reservation change fees. 16 airlines reported fees in 3Q 2011.

Table 1D: Miscellaneous Operating Revenue*

Ranked by 3rd Quarter 2011 Miscellaneous Operating Revenue

Dollars in Millions (000,000)

Excel | CSV

3Q 2011 Rank Airline 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 Percent Change 3Q 2010-3Q 2011 (%)
1 Delta 250.3 240.5 270.0 263.7 386.0 54.2
2 Southwest 205.0 216.7 205.2 215.1 223.5 9.0
3 US Airways 53.7 47.5 46.8 42.3 47.7 -11.2
4 Spirit 26.7 35.6 32.8 41.2 46.3 73.4
5 AirTran 14.2 16.3 13.4 15.9 42.7 200.7
6 Alaska 8.9 9.4 23.2 23.4 26.2 194.4
7 American 23.0 19.3 17.1 20.7 23.8 3.5
8 United 11.5 9.8 10.6 13.2 13.6 18.3
9 American Eagle 11.3 10.5 10.6 10.6 10.8 -4.4
10 Continental 9.0 7.0 8.6 9.8 8.7 -3.3
  Industry Total** 654.0 643.8 681.4 709.3 871.7 33.3

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2.

* Miscellaneous operating revenue includes pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees.

** 27 carriers reported miscellaneous operating revenue in 3Q 2011

Note: For other carriers and additional historic data, see Miscellaneous operating revenue

Note: Percent changes based on numbers prior to rounding.

Note: Detail may not add to total.

Table 1E: Ancillary Revenue*

Ranked by 3rd Quarter 2011 Ancillary Revenue

Dollars in Millions (000,000)

Excel | CSV

3Q 2011 Rank Airline 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 Percent Change 3Q 2010-3Q 2011 (%)
1 Delta 693.1 627.7 658.6 691.3 814.3 17.5
2 American 291.8 286.5 277.7 303.4 300.2 2.9
3 US Airways 249.0 234.1 238.5 253.9 245.1 -1.6
4 Southwest 212.7 224.0 212.6 223.5 232.0 9.1
5 United 180.1 161.7 160.8 165.1 173.5 -3.7
6 Continental 160.5 146.9 144.8 162.2 162.9 1.5
7 AirTran 64.3 68.1 64.3 75.6 98.7 53.5
8 Spirit 55.3 67.8 67.2 82.0 89.8 62.4
9 Alaska 56.6 48.3 63.3 65.5 74.5 31.6
10 JetBlue 49.3 47.2 48.4 51.8 54.1 9.7
  Industry Total** 2,150.8 2,032.1 2,062.9 2,208.4 2,381.4 10.7

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2.

* Ancillary revenue includes baggage fees, reservation change fees and miscellaneous operating revenue, including pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees. Revenue from seating assignments and on-board sales of food, drink, pillows, blankets, entertainment, or any other ancillary items are reported as Transport Related Revenue and cannot be identified separately.

** 27 carriers reported baggage fee, reservation change fee or miscellaneous operating revenue in 3Q 2011 (the sum of all carriers that reported in any one of the three categories).

Note: For other carriers and additional historic data, see Passenger Baggage Fees, Reservation Cancellation Fees or Miscellaneous Operating Revenues

Note: Percent changes based on numbers prior to rounding.

Note: Detail may not add to total.

Table 1F: Ancillary Revenue Compared to Total Operating Revenue*

Ranked by Percent of 3rd Quarter 2011 Operating Revenue from Ancillary Revenue

Excel | CSV

3Q 2011 Rank Airline 3Q 2010 (%) 4Q 2010 (%) 1Q 2011 (%) 2Q 2011 (%) 3Q 2011 (%) Percent-age Point Change 3Q 2010-3Q 2011
1 Spirit 26.9 31.4 28.9 29.7 31.1 4.2
2 AirTran 9.6 10.6 9.6 9.3 13.0 3.4
3 Allegiant 9.7 8.8 8.7 9.8 9.8 0.1
4 Delta 7.7 8.0 8.5 7.5 8.3 0.6
5 US Airways 7.7 7.9 7.9 7.1 7.0 -0.7
6 Virgin America 7.6 8.0 7.5 6.6 6.8 -0.8
7 Frontier 5.8 8.4 9.2 7.1 6.6 0.8
8 Southwest 6.7 7.2 6.9 6.2 6.5 -0.2
9 Alaska 7.4 5.6 6.6 5.9 6.2 -1.2
10 Republic 6.8 2.0 4.4 4.7 6.0 -0.8
  Industry Total*** 5.8 6.1 6.2 5.5 5.8 0.0

Source: Bureau of Transportation Statistics, Form 41; Schedule P1.2.

* Ancillary revenue includes baggage fees, reservation change fees and miscellaneous operating revenue, including pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees. Revenue from seating assignments and on-board sales of food, drink, pillows, blankets, entertainment, or any other ancillary items are reported as Transport Related Revenue and cannot be identified separately.

** 27 carriers reported baggage fee, reservation change fee or miscellaneous operating revenue in 3Q 2011 (the sum of all carriers that reported in any one of the three categories).

Note: For other carriers and additional historic data, see Passenger Baggage Fees, Reservation Cancellation Fees or Miscellaneous Operating Revenues

Note: Percent changes based on numbers prior to rounding.

Table 2: Network Airline System* Quarterly Operating Profit/Loss Margin (In Percent)

Ranked by 3rd Quarter 2011 Margin

(Operating Profit/Loss as Percent of Total Operating Revenue)

Excel | CSV

3Q 2011 Rank Network Airlines 3Q 2010 (%) 4Q 2010 (%) 1Q 2011 (%) 2Q 2011 (%) 3Q 2011 (%) 3rd Quarter Operating Profit/Loss $(Millions)
1 Alaska 20.0 10.5 4.8 11.9 18.4 220
2 United 10.5 1.7 0.2 7.9 9.9 577
3 Delta 13.3 5.0 -1.0 6.9 8.8 866
4 Continental 10.8 -1.1 0.8 8.7 8.2 360
5 US Airways 9.6 4.0 -1.0 5.0 5.1 177
6 American 5.0 0.4 -4.8 -1.9 0.2 10
  6-Carrier Total 10.5 2.6 -1.1 5.5 7.1 2,210

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2

* System = domestic + international

Table 3: Low-Cost System* Quarterly Operating Profit/Loss Margin (In Percent))

Ranked by 3rd Quarter 2011 Margin

(Operating Profit/Loss as Percent of Total Operating Revenue)

Excel | CSV

3Q 2011 Rank Low-Cost Airlines 3Q 2010 (%) 4Q 2010 (%) 1Q 2011 (%) 2Q 2011 (%) 3Q 2011 (%) 3rd Quarter Operating Profit/Loss $(Millions)
1 Spirit 11.0 10.2 11.5 12.7 15.4 4.5
2 JetBlue 14.3 6.4 4.4 7.5 9.1 108
3 Allegiant 9.3 11.1 12.8 7.4 6.0 11
4 Southwest 11.1 6.9 3.7 5.4 5.8 207
5 Virgin America 10.4 -7.3 -16.0 -1.1 5.6 17
6 AirTran 8.5 0.0 -5.5 -1.0 2.4 17
7 Frontier 5.1 -4.1 -14.7 -8.0 0.5 2
  7-Carrier Total 11.0 5.1 1.0 4.2 6.0 408

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2

* System = domestic + international

Table 4: Regional Airline System* Quarterly Operating Profit/Loss Margin

Ranked by 3rd Quarter 2011 Margin

(Operating Profit/(Loss) as Percent of Total Operating Revenue)

Excel | CSV

3Q 2011 Rank Regional Airlines 3Q 2010 (%) 4Q 2010 (%) 1Q 2011 (%) 2Q 2011 (%) 3Q 2011 (%) 3rd Quarter Operating Profit/Loss $(Millions)
1 Horizon 7.7 1.2 -2.5 -15.7 9.1 8
2 SkyWest 9.4 7.9 4.8 6.5 6.6 34
3 American Eagle 9.9 7.8 5.4 5.8 4.8 29
4 Pinnacle 9.9 7.8 5.3 1.7 0.8 1
5 Atlantic Southeast 5.4 5.3 -5.2 -3.0 -1.2 -2
6 ExpressJet -2.1 -30.3 -7.2 -4.5 -2.8 -7
7 Mesa** 5.2 4.8 3.5 4.9 N/A N/A
  7-Carrier Total 7.4 2.7 2.2 2.5 3.5 65

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2

* System = domestic + international

** Mesa Airlines failed to file the 3Q 2011 quarterly financial report

Table 5: Passenger Airline System* Fuel Costs Per Available Seat-Mile

Ranked by 3rd Quarter 2011 Fuel Cost per ASM (Cents per ASM)

(Fuel Expense per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Airline Group 3Q 2006 3Q 2010 2Q 2011 3Q 2011 Pct. Chge 3Q 2006-3Q 2011 Percent of Operating Costs for Fuel 3rd Quarter Fuel Expense $(Millions)
2006 2011
1 Network 3.65 3.54 4.82 4.87 33.4 27.4 30.1 8,720
2 Low-Cost 2.86 3.41 4.82 4.70 64.3 31.9 39.2 2,485
3 Regional 4.14 2.22 2.99 2.48 -40.1 30.3 23.0 405
  21-Carrier Total 3.55 3.43 4.70 4.68 31.8 28.2 31.3 11,610

Source: Bureau of Transportation Statistics, Form 41; Schedule P6

* System = domestic + international

Table 6: Network Airline System* Fuel Costs per Available Seat-Mile

Ranked by 3rd Quarter 2011 Fuel Cost per ASM (Cents per ASM)

(Fuel Expense per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Network Airlines 3Q 2006 3Q 2010 2Q 2011 3Q 2011 Pct. Chge 3Q 2006-3Q 2011 Percent of Operating Costs for Fuel 3rd Quarter Fuel Expense $(Millions)
2006 2011
1 Delta 3.57 3.66 5.09 5.22 46.2 26.2 32.0 2,876
2 American 3.59 3.61 4.97 5.01 39.6 28.5 31.5 2,001
3 United 3.69 3.84 4.64 4.88 32.2 28.3 29.3 1,547
4 US Airways 3.68 3.25 4.94 4.74 28.8 23.5 27.0 901
5 Alaska 3.52 3.04 4.47 4.23 20.2 28.7 30.1 294
6 Continental 3.33 3.15 4.25 4.20 26.1 24.9 27.5 1,101
7 Northwest 4.18 N/A N/A N/A N/A 30.7 N/A N/A
  7-Carrier Total 3.65 3.54 4.82 4.87 33.4 28.2 30.1 8,720

Source: Bureau of Transportation Statistics, Form 41; Schedule P6

* System = domestic + international

Table 7: Low-Cost Airline System* Fuel Costs per Available Seat-Mile

Ranked by 3rd Quarter 2011 Fuel Cost per ASM (Cents per ASM)

(Fuel Expense per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Low-Cost Airlines 3Q 2006 3Q 2010 2Q 2011 3Q 2011 Pct. Chge 3Q 2006-3Q 2011 Percent of Operating Costs for Fuel 3rd Quarter Fuel Expense $(Millions)
2006 2011
1 Allegiant 4.00 3.94 5.65 5.46 36.5 47.0 48.9 84
2 AirTran 3.76 3.28 5.09 4.85 29.0 38.1 42.3 313
3 Southwest 2.52 3.62 4.84 4.74 88.1 28.9 38.0 1,272
4 Frontier 3.37 2.83 4.65 4.62 37.1 30.3 30.6 147
5 JetBlue 2.94 3.21 4.65 4.60 56.5 37.3 41.7 454
6 Spirit 3.50 2.90 4.42 4.33 23.7 30.0 43.0 105
7 Virgin America N/A 3.04 4.50 4.28 N/A N/A 40.1 110
  7-Carrier Total 2.86 3.41 4.82 4.70 64.3 31.9 39.2 2,485

Source: Bureau of Transportation Statistics, Form 41; Schedule P6

* System = domestic + international

Table 8: Regional Airline System* Fuel Costs per Available Seat-Mile

Ranked by 3rd Quarter 2011 Fuel Cost per ASM (Cents per ASM)

(Fuel Expense per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Regional Airlines 3Q 2006 3Q 2010 2Q 2011 3Q 2011 Pct. Chge 3Q 2006-3Q 2011 Percent of Operating Costs for Fuel 3rd Quarter Fuel Expense $(Millions)
2006 2011
1 American Eagle 5.57 5.56 7.72 7.62 36.8 36.0 41.8 242
2 SkyWest 5.24 1.90 2.60 2.46 -53.1 37.4 22.6 111
3 ExpressJet 1.72 0.40 1.40 1.38 -19.8 15.3 17.5 44
4 Atlantic Southeast 5.25 0.30 0.40 0.40 -92.4 39.7 4.3 8
5 Pinnacle 1.90 0.00 0.00 0.01 -99.9 15.3 0.1 0
6 Horizon 3.58 4.20 0.00 0.00 -100.0 20.6 0.0 0
7 Mesa** 5.31 4.20 6.10 N/A N/A 36.9 N/A N/A
  7-Carrier Total 4.14 2.22 3.00 2.48 -40.1 30.3 23.0 405

Source: Bureau of Transportation Statistics, Form 41; Schedule P6

* System = domestic + international

** Mesa Airlines failed to file the 3Q 2011 quarterly financial report

Table 9: Passenger Airline System* Unit Costs

Ranked by 3rd Quarter 2011 Unit Costs (Cents per ASM)

(Operating Expenses per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Airline Group 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Expenses $(Millions)
1 Network 14.2 15.1 15.9 16.2 16.2 28,940
2 Low-Cost 10.4 11.3 12.0 12.3 12.0 6,344
3 Regional 11.1 12.4 12.4 12.3 10.8 1,758
  21-Carrier Total 13.2 14.2 14.9 15.1 14.9 37,043

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 10: Network Airline System* Unit Costs Network Carriers

Ranked by 3rd Quarter 2011 Unit Costs (Cents per ASM)

(Operating Expenses per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Network Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Expenses $(Millions)
1 US Airways 15.4 16.4 17.9 17.8 17.5 3,333
2 United 14.9 16.0 16.5 16.7 16.6 5,279
3 Delta 14.1 15.1 16.2 16.4 16.3 8,979
4 American 13.9 14.6 15.3 15.9 15.9 6,361
5 Continental 13.6 14.9 14.7 15.2 15.3 4,012
6 Alaska 11.7 12.4 14.4 14.6 14.1 976
  6-Carrier Total 14.2 15.1 15.9 16.2 16.2 28,940

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 11: Low-Cost Airline System* Unit Costs

Ranked by 3rd Quarter 2011 Unit Costs (Cents per ASM)

(Operating Expenses per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Low-Cost Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Expenses $(Millions)
1 Frontier 11.1 15.0 16.2 16.5 15.1 480
2 Southwest 11.1 11.7 12.2 12.6 12.5 3,346
3 AirTran 9.8 11.0 12.2 12.4 11.5 741
4 Allegiant 8.9 9.9 10.3 11.6 11.2 172
5 JetBlue 9.7 10.3 11.4 11.3 11.0 1,088
6 Virgin America 9.3 10.0 10.7 11.1 10.7 274
7 Spirit 8.3 9.0 9.4 9.9 10.1 244
  7-Carrier Total 10.4 11.3 12.0 12.3 12.0 6,344

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 12: Regional Airline System* Unit Costs

Ranked by 3rd Quarter 2011 Unit Costs (Cents per ASM)

(Operating Expenses per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Regional Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Expenses $(Millions)
1 American Eagle 16.0 16.7 18.1 18.4 18.2 580
2 Horizon 20.0 21.7 13.4 16.2 12.8 85
3 Pinnacle 9.5 11.4 10.8 11.5 11.0 167
4 SkyWest 10.2 10.7 11.3 11.1 10.9 490
5 Atlantic Southeast 9.2 10.3 10.2 9.7 9.2 187
6 ExpressJet 7.0 9.2 8.8 7.9 7.9 250
7 Mesa** 12.8 13.9 14.5 14.5 N/A N/A
  7-Carrier Total 11.1 12.4 12.4 12.3 10.8 1,758

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

** Mesa Airlines failed to file the 3Q 2011 quarterly financial report

Table 13: Passenger Airline System* Unit Revenue

Ranked by 3rd Quarter 2011 Unit Revenue (Cents per ASM)

(Operating Revenue per Available Seat Mile in cents)

Excel | CSV

3Q 2011 Rank Airline Group 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Revenue $(Millions)
1 Network 15.8 16 15.8 17.2 17.4 31,150
2 Low-Cost 11.7 11.9 12.2 12.9 12.8 6,752
3 Regional 12.0 12.7 12.7 12.6 11.2 1,823
  21-Carrier Total 14.7 14.6 14.8 15.9 16.0 39,725

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 14: Network Airline System* Unit Revenue

Ranked by 3rd Quarter 2011 Unit Revenue (Cents per ASM)

(Operating Revenue per Available Seat Mile

Excel | CSV

3Q 2011 Rank Network Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Revenue $(Millions)
1 United 16.7 16.3 16.5 18.2 18.5 5,856
2 US Airways 17.0 17.1 17.8 18.8 18.4 3,510
3 Delta 16.3 15.9 16.2 17.6 17.9 9,845
4 Alaska 14.6 13.8 15.2 16.5 17.2 1,196
5 Continental 15.2 14.7 14.8 16.6 16.7 4,372
6 American 14.6 14.7 14.6 15.6 16.0 6,371
  6-Carrier Total 16 16 15.8 17.2 17.4 31,150

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 15: Low-Cost Airline System* Unit Revenue

Ranked by 3rd Quarter 2011 Unit Revenue (Cents per ASM)

(Operating Revenue per Available Seat Mile

Excel | CSV

3Q 2011 Rank Low-Cost Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Revenue $(Millions)
1 Frontier 11.7 14.4 14.1 15.3 15.2 482
2 Southwest 12.5 12.6 12.7 13.3 13.2 3,553
3 JetBlue 11.3 11.0 11.9 12.2 12.1 1,196
4 Spirit 9.4 10.0 10.6 11.4 11.9 289
5 Allegiant 9.8 11.2 11.8 12.5 11.9 183
6 AirTran 10.7 11.0 11.6 12.2 11.7 758
7 Virgin America 10.4 9.3 9.3 11.0 11.3 291
  7-Carrier Total 11.7 11.9 12.2 12.9 12.8 6,752

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 16: Regional Airline System* Unit Revenue

Ranked by 3rd Quarter 2011 Unit Revenue (Cents per ASM)

(Operating Revenue per Available Seat Mile)

Excel | CSV

3Q 2011 Rank Regional Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Operating Revenue $(Millions)
1 American Eagle 17.7 18.2 19.2 19.6 19.2 609
2 Horizon 21.6 21.9 13.1 14.0 14.1 93
3 SkyWest 11.2 11.6 11.8 11.8 11.6 524
4 Pinnacle 10.5 11.5 11.5 11.7 11.1 168
5 Atlantic Southeast 9.7 10.9 9.7 9.4 9.1 185
6 ExpressJet 6.8 7.1 8.2 7.6 7.7 243
7 Mesa** 13.5 14.6 15.1 15.2 N/A N/A
  7-Carrier Total 12.0 12.7 12.7 12.6 11 1,823

Source: Bureau of Transportation Statistics; Form 41, Schedule P1.2. T100; T2 Data

* System = domestic + international

** Mesa Airlines failed to file the 3Q 2011 quarterly financial report

Table 17: Airline System* Passenger Revenue Yield

Ranked by 3rd Quarter 2011 Revenue Yield (Cents per RPM)

(Passenger Revenue per Revenue Passenger Mile in cents)

Excel | CSV

3Q 2011 Rank Airline Group 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Passenger Revenue $(Millions)
1 Network 13.0 13.1 13.9 14.1 14.2 21,932
2 Low-Cost 12.7 13.1 13.7 14.0 13.7 6,061
3 Regional 14.7 16.0 16.8 15.5 13.7 1,792
  21-Carrier Total 13.1 13.3 14.0 14.2 14.1 29,785

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 18: Network Airline System* Passenger Revenue Yield

Ranked by 3rd Quarter 2011 Revenue Yield (Cents per RPM)

(Passenger Revenue per Revenue Passenger Mile in cents)

Excel | CSV

3Q 2011 Rank Network Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Passenger Revenue $(Millions)
1 Continental 12.8 13.0 14.0 14.6 14.6 3,269
2 United 13.3 13.4 13.8 14.3 14.6 4,008
3 American 13.3 13.5 14.0 13.9 14.2 4,816
4 Delta 13.0 13.0 13.8 14.1 14.1 6,761
5 Alaska 13.1 12.6 12.6 13.7 13.9 842
6 US Airways 12.6 12.7 13.8 13.8 13.6 2,235
  6-Carrier Total 13.0 13.1 13.9 14.1 14.2 21,932

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 19: Low-Cost Airline System* Passenger Revenue Yield

Ranked by 3rd Quarter 2011 Revenue Yield (Cents per RPM)

(Passenger Revenue per Revenue Passenger Mile in cents)

Excel | CSV

3Q 2011 Rank Low-Cost Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Passenger Revenue $(Millions)
1 Frontier 11.8 15.3 15.3 15.4 15.1 435
2 Southwest 14.2 14.2 14.9 15.1 15.0 3,279
3 JetBlue 12.1 12.1 13.1 13.6 13.1 1,088
4 Virgin America 11.3 10.2 11.2 12.2 12.3 268
5 AirTran 11.5 12.2 13.3 13.3 12.2 659
6 Allegiant 8.6 9.9 10.4 10.9 9.6 135
7 Spirit 8.1 8.1 8.9 9.2 9.3 197
  7-Carrier Total 12.7 13.1 13.7 14.0 13.7 6,061

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

Table 20: Regional Airlines System* Passenger Revenue Yield

Ranked by 3rd Quarter 2011 Revenue Yield (Cents per RPM)

(Passenger Revenue per Revenue Passenger Mile in cents)

Excel | CSV

3Q 2011 Rank Regional Airlines 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 3rd Quarter Passenger Revenue $(Millions)
1 American Eagle 23.0 23.7 27.2 24.9 24.6 597
2 Horizon 25.3 27.0 16.8 17.8 17.0 91
3 SkyWest 13.7 14.5 15.2 14.5 13.9 514
4 Pinnacle 13.1 14.6 15.7 14.8 13.9 168
5 Atlantic Southeast 12.1 13.8 12.8 11.5 11.2 185
6 ExpressJet 8.2 9.0 10.9 9.4 9.4 238
7 Mesa** 16.3 18.2 19.4 18.3 N/A N/A
  7-Carrier Total 14.7 16.0 16.8 15.5 13.7 1,792

Source: Bureau of Transportation Statistics; Form 41; Schedule P1.2. T100; T2 Data

* System = domestic + international

** Mesa Airlines failed to file the 3Q 2011 quarterly financial report