Only 3 minutes: should we bail out airlines?
Thoughts?
These Airlines were bragging and boasting about having record profits in 2018 and 2019 but are struggling to keep the lights on for few weeks or few months the shit is not adding up.
The good times for the nation’s airlines continued last year, with the country’s largest carriers reporting a combined profit of $15.5 billion, including $4.6 billion from baggage fees.
www.latimes.com
U.S. airlines pocketed $15.5 billion last year, including a record $4.6 billion in bag fee
The good times for the nation’s airlines continued last year, with the country’s largest carriers reporting a combined profit of $15.5 billion, including $4.6 billion from baggage fees.
The 23 largest airlines reported a combined after-tax profit for the fifth consecutive year, representing a strong rebound from nearly a decade of losses following the Sept. 11, 2001, terrorist attacks and the economic recession that followed, according to the U.S. Bureau of Transportation Statistics.
The airline industry enjoyed the biggest year on record in 2015 when low fuel costs helped airlines collect a record of nearly $25 billion in profits, the bureau said.
The nation’s airline industry added 450 new planes last year, she added.
The country’s airlines collected $4.6 billion from baggage fees and $2.9 billion from reservation change fees, which represent the only two ancillary passenger fees the airlines are required to report to the Bureau of Transportation Statistics.
Delta Air Lines’ 2019 profit was an all-time high and 21% higher than the year prior. The airline reported net income of $4.77 billion.
The airline reported net income of $4.77 billion, an all-time high and 21% higher than the year prior.
www.travelweekly.com
Delta sets profit record in 2019
By
Robert Silk
|
Jan 14, 2020
Delta Air Lines’ 2019 profit was an all-time high and 21% higher than the year prior. The airline reported net income of $4.77 billion.
The strong earnings are one factor that led CEO Ed Bastian to label 2019 a “truly outstanding year on all fronts.”
“2019 was the best year in our history,” Bastian said during the carrier’s earnings call Tuesday.
Wall Street appears bullish, as well. Delta stock was up nearly 4% in the early afternoon.
Delta’s record net income beat its previous high of $4.53 billion in 2015, with some help from the lower corporate tax rate that went into effect in 2018. The carrier’s pretax income of $6.2 billion last year was nearly $1 billion less than 2015’s record total of $7.16 billion.
Still, Delta’s 2019 results came on record operating revenue. The carrier’s top line in 2019 was $47 billion, a 6% increase. Notably, Delta reported a 9% growth in business and premium product sales and a $500 million jump in loyalty program revenue to $1.96 billion. Delta’s load factor of 86.3% was also a record as the airline carried 204 million passengers. 
www.mediaite.com
www.npr.org
