Air carriers' major source of revenue is passenger fares. Freight revenue has increased in importance for large air carriers in recent years, but is much smaller than passenger revenue. Air carrier asset returns are highly seasonal due to the seasonality of passenger revenues.
|Billion dollars||Q1 01||Q1 02|
|Operating revenues percent change from same quarter previous year||2.79||-23.06|
|Operating expenses percent change from same quarter previous year||7.62||-17.37|
|Passenger revenues percent change from same quarter previous year||4.28||-26.37|
|Freight revenues percent change from same quarter previous year||0.71||-2.49|
NOTES: Data for the last year are preliminary. DHL and Delta have been excluded for comparability because they did not provide data for the first quarter of 2002.
The current value is compared to the value from the same period in the previous year to account for seasonality.
The data include profits of both foreign and domestic operations for U.S. air carriers with more than 20 million dollars in annual operating revenue.
SOURCES: U.S. Department of Transportation, Bureau of Transportation Statistics, Air Carrier Financial Statistics data; and U.S. Department of Labor, Bureau of Labor Statistics, available at: http://www.bls.gov/cpi/.