Overview of Financial Performance
The financial landscape for U.S. scheduled passenger airlines revealed a net profit of $6.7 billion for the year 2024. When juxtaposed with 2023’s profit of $7.8 billion, this marks a noteworthy drop.
Annual Results for Scheduled U.S. Airlines
Here’s a concise breakdown of the financial results for 2024:
After-Tax Net Income
- $6.7 billion profit in 2024
- Down from $7.8 billion in 2023
Pre-Tax Operating Profit
- $13.5 billion profit in 2024
- Slight increase from $13.2 billion profit in 2023
Revenue and Expenses Breakdown
The total operating revenue for 2024 stood at $247.2 billion. The revenue sources can be summarized as follows:
Revenue Source | 2024 Amount | Percentage of Total Revenue |
---|---|---|
Fares | $185.3 billion | 75.0% |
Baggage Fees | $7.3 billion | 2.9% |
Reservation Change Fees | $1.0 billion | 0.4% |
It’s important to note that these fees contribute significantly to both net income and operating profit.
Operating Expenses
Total operating expenses for the year reached $233.7 billion. Here’s the breakdown:
- Fares: $43.9 billion (18.8%)
- Labor: $85.1 billion (36.4%)
Domestic Performance Insights
Examining domestic operations reveals the following insights:
After-Tax Domestic Net Income
- $4.2 billion profit in 2024
- Down from $4.3 billion profit in 2023
Domestic Operating Revenue
- $184.0 billion total revenue in 2024
International Performance Overview
As for the international segment of U.S. airlines:
After-Tax International Net Income
- $2.5 billion profit in 2024
- Decreased from $3.5 billion in 2023
International Operating Revenue
- $63.2 billion total revenue in 2024
Quarterly Performance Analysis
Looking into the fourth quarter results, the airlines reported a strong performance:
Fourth Quarter Net Profit
- $2.4 billion profit in Q4 2024
- Increased from $2.0 billion in Q4 2023
Marginal Analysis
The margins for 2024 demonstrate the efficiency of these airlines:
- Net Income Margin: 2.7% in 2024, down from 3.3% in 2023
- Operating Margin: 5.5% in 2024, slightly down from 5.6% in 2023
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