By rahmat hidayat

Wednesday, May 15, 2024

Having trouble viewing this email? View it as a Web page.   US Airlines gain $7.8 billion in 2023, an increase over 2022 Wednesday, May 15, 2024 BTS 24-24     U.S. scheduled passenger airlines reported a 2023 after-tax net profit of $7.8 billion, and a pre-tax operating profit of $13.2 billion. 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 2023 annual (Tables 1-6) and fourth-quarter (Tables 7-12) financial results.   2023 Annual Results for All 26 Scheduled Passenger Airlines     After-tax net income  $7.8 billion profit in 2023 Compared to $1.6 billion profit in 2022 Pre-tax operating profit/loss $13.2 billion profit in 2023 Compared to $7.9 billion profit in 2022   Total 2023 operating revenue: $236.3 billion Share of total 2023 operating revenue: Fares: $179.2 billion, 75.8%, compared to 73.5% in 2022  Baggage fees: $7.1 billion, 3.0%, compared to 3.2% in 2022  Reservation change fees: $1.1 billion, 0.4%, compared to 0.5% in 2022  Fees are included for calculations of net income, operating revenue and operating profit or loss. Total operating expenses: $223.1 billion Share of total 2023 operating expenses: Fuel: $47.6 billion 21.3%, compared to 24.2% in 2022 Labor: $77.6 billion 34.8%, compared to 31.5% in 2022   Domestic results for 26 scheduled airlines   After-tax domestic net income  $4.3 billion profit in 2023  Compared to $1.8 billion profit in 2022 Pre-tax domestic operating profit/loss  $8.4 billion profit in 2023  Compared to $6.9 billion profit in 2022   2023 domestic operating revenue: $176.4 billion Share of total 2023 domestic operating revenue: Fares: $128.9 billion, 73.1%, compared to 71.5% in 2022  Baggage fees: $5.7 billion, 3.2%, compared to 3.3% in 2022  Reservation change fees: $902 million, 0.5%, compared to 0.5% in 2022 Fees are included for calculations of net income, operating revenue and operating profit or loss. 2023 domestic operating expenses: $168.0 billion Share of total 2023 domestic operating expenses: Fuel: $33.0 billion, 19.7%, compared to 22.1% in 2022 Labor: $58.3 billion, 34.7%, compared to 31.4% in 2022   International results for 20 scheduled U.S. airlines     After-tax international net income  $3.5 billion profit in 2023  Compared to $256 million loss in 2022 Pre-tax international operating profit  $4.8 billion profit in 2023  Compared to $1.0 billion profit in 2022   2023 international operating revenue: $59.9 billion Share of total 2023 international operating revenue: Fares: $50.3 billion, 83.9%, compared to 80.4% in 2022  Baggage fees: $1.4 billion, 2.3%, compared to 2.8% in 2022  Reservation change fees: $161 million, 0.3%, compared to 0.3% in 2022   Fees are included for calculations of net income, operating revenue and operating profit or loss. 2023 international operating expenses: $55.2 billion Share of total 2023 international operating expenses: Fuel: $14.5 billion, 26.3%, compared to 31.3% in 2022 Labor: $19.2 billion, 34.8%, compared to 31.7% in 2022 2023 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:  3.3% in 2023  Compared to 0.7% in 2022 Operating margin: 5.6% in 2023  Compared to 3.7% in 2022 Domestic Net income margin:  2.5% in 2023  Compared to 1.1% in 2022 Operating margin: 4.8% in 2023  Compared to 4.2% in 2022 International Net income margin:  5.8% in 2023  Compared to -0.5% in 2022 Operating margin: 8.0% in 2023  Compared to 2.2% in 2022 4Q 2023 Results for All 24 Scheduled U.S. Passenger Airlines  U.S. scheduled passenger airlines reported a fourth-quarter 2023 after-tax net profit of $2.0 billion and a pre-tax operating profit of $2.2 billion. One year earlier, in the fourth quarter of 2022, the airlines reported an after-tax net profit of $2.1 billion and a pre-tax operating profit of $3.7 billion.     After-tax net income  $2.0 billion profit in 4Q 2023  Compared to $1.6 billion profit in 3Q 2023 Compared to $2.1 billion profit in 4Q 2022 Pre-tax operating profit  $2.2 billion profit in 4Q 2023  Compared to $3.3 billion profit in 3Q 2023 Compared to $3.7 billion profit in 4Q 2022   Total 4Q 2023 operating revenue: $59.0 billion Share of total 4Q 2023 operating revenue: Fares: $44.6 billion, 75.7%, compared to 75.0% in 4Q 2022 Baggage fees: $1.7 billion, 2.9%, compared to 3.1% in 4Q 2022 Reservation change fees: $257 million, 0.4%, compared to 0.5% in 4Q 2022 Fees are included for calculations of net income, operating revenue and operating profit or loss. Total 4Q 2023 operating expenses: $56.8 billion: Share of total 4Q 2023 operating expenses: Fuel: $12.5 billion, 22.1%, compared to 23.8% in 4Q 2022 Labor: $20.0 billion, 35.3%, compared to 32.0% in 4Q 2022   Domestic operations, includes 24 U.S. airlines:       After-tax domestic net profit (net income)  $1.5 billion profit in 4Q 2023  Compared to $424 million profit in 3Q 2023  Compared to $1.3 billion profit in 4Q 2022 Pre-tax domestic operating profit  $1.9 billion profit in 4Q 2023  Compared to $1.4 billion profit in 3Q 2023  Compared to $2.7 billion loss in 4Q 2022   4Q 2023 domestic operating revenue: $44.7 billion Share of total 4Q 2023 domestic operating revenue: Fares: $32.8 billion, 73.2%, compared to 72.9% in 4Q 2022 Baggage fees: $1.4 billion, 3.1%, compared to 3.3% in 4Q 2022 Reservation change fees: $221 million, 0.5%, compared to 0.6% in 4Q 2022   Fees are included for calculations of net income, operating revenue and operating profit or loss. 4Q 2023 domestic operating expenses: $42.9 billion, of which: Share of total 4Q 2023 domestic operating expenses: Fuel: $8.7 billion, 20.2%, compared to 21.8% in 4Q 2022 Labor: $15.2 billion, 35.4%, compared to 32.1% in 4Q 2022 International operations, includes 19 U.S. airlines:     After-tax international net profit (net income)  $513 million profit in 4Q 2023  Compared to $1.2 billion profit in 3Q 2023  Compared to $782 million loss in 4Q 2022 Pre-tax international operating profit  $301 million profit in 4Q 2023  Compared to $1.9 billion profit in 3Q 2023  Compared to $983 million profit in 4Q 2022   4Q 2023 international operating revenue: $14.2 billion, of which: Share of 4Q 2023 international operating revenue: Fares: $11.9 billion, 83.6%, compared to 82.1% in 4Q 2022  Baggage fees: $333 million, 2.3%, compared to 2.5% in 4Q 2022  Reservation change fees: $36 million, 0.3%, compared to 0.3% in 4Q 2022  Fees are included for calculations of net income, operating revenue and operating profit or loss.   4Q 2023 international operating expenses: $13.9 billion, of which: Share of 4Q 2023 international operating expenses: Fuel: $3.9 billion, 27.7%, compared to 30.8% in 4Q 2022 Labor: $4.8 billion, 34.8%, compared to 31.8% in 4Q 2022 4th 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:  3.4% in 4Q2023  Compared to 3.7% in 4Q2022 Operating margin: 3.7% in 4Q2023  Compared to 6.5% in 4Q2022   Domestic Net income margin:  3.3% in 4Q2023  Compared to 2.9% in 4Q2022 Operating margin: 4.2% in 4Q2023  Compared to 6.2% in 4Q2022 International Net income margin:  3.6% in 4Q2023 Compared to 6.1% in 4Q2022 Operating margin: 2.1% in 4Q2023  Compared to 7.7% in 4Q2022   Reporting notes Additional data: BTS website, see tables for operating profit/loss, operating revenue and fuel cost and consumption. See the BTS financial databases for more detailed data including numbers for individual airlines. Filing requirement: By regulation, for the quarter ending Dec. 31, airlines that operate at least one aircraft that is designed/certified for more than 60 seats or the capacity to carry a payload of passengers and cargo weighing more than 18,000 pounds must report financial data to BTS by March 31. The airline filings are subject to a process of quality assurance and data validations before release to the public.  Data updates: Revised carrier data and late data filings will be made available monthly on TranStats on the Monday following the second Tuesday of the month. All data are subject to revision. BTS will release first-quarter 2024 data on June 16. Missing carriers: The information provided within BTS statistical releases may not be based on 100% of reporting carriers. Generally, data are released per schedule if reports have been received from at least 90% of the carriers, along with data from all the major carriers. Regarding this release, the following carriers remain pending: Air Wisconsin Airlines Corp (ZW), Aloha Air Cargo (KH), Northern Air Cargo Inc. (NC), Kalitta Charters II (KLQ), Silver Airways (3M). Also, within text, percent change results may not be exact due to rounding. You are subscribed to email updates from the USDOT Bureau of Transportation Statistics. Subscriber Services: Manage Preferences Questions for BTS? Contact BTS  STAY CONNECTED             U.S. Department of Transportation | 1200 New Jersey Avenue, SE | Washington DC 20590 | 855-368-4200

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