FOR
IMMEDIATE RELEASE
Monday,
June 11, 2001
Contact:
David Smallen
Tel:
202-366-5568
BTS
13-01
Airline
Industry Profits Fell in 2000, BTS Year-end Financial Report Shows
The
U.S. airline industry saw reduced profits in 2000 as the growth in operating
expenses for the industry exceeded growth in revenues, according to the Bureau
of Transportation Statistics (BTS) year-end report on air carrier finances.
U.
S. Transportation Secretary Norman Y. Mineta said the BTS report indicates that
the airline industry faces continuing challenges. “The airline industry is a vital part of our
transportation system,” Secretary Mineta said.
“A competitive and profitable industry is important to the performance
of the aviation system in the future.”
Dr.
Ashish Sen, BTS Director, said the collection and distribution of detailed
airline financial statistics by BTS could provide needed information for
decision-makers. “BTS reports this comprehensive airline information to help
provide a better picture of the strengths and weaknesses of the airline
industry,” he said.
While
the major, national, and small certificated airlines had reduced net income in
2000, large regional and commuter airlines reported losses. Medium regional
airlines, which lost money as a group in 1999, reported a profit in 2000. See
the attached table for details.
The
information in Air Carrier Financial
Statistics was collected by the BTS Office
of Airline Information. It includes
detailed financial statistics for 15 major air carriers, 37 nationals, 21 large
regionals, and 19 medium regionals. Summary information from small regionals and
commuter carriers is also included.
Quarterly
issues of Air Carrier Financial Statistics
are available from BTS for $65 each. An annual subscription can be obtained for
$250. To obtain copies, send checks payable to “BTS” to:
Bureau
of Transportation Statistics
400
Seventh St. SW, Room 3430
Washington,
D.C. 20590
Attn:
Customer Services, K-30
Air
Carrier Financial Statistics may also be obtained by calling 202-366-3282
(press 1).
|
Dollars in
thousands |
1999 |
2000 |
Airline
Industry
|
|
|
|
Operating Revenue |
$123,240,000 |
$134,750,100 |
|
Operating Expense |
$114,564,900 |
$127,231,400 |
|
Operating Profit (Loss) |
$8,675,100 |
$7,518,700 |
|
Net Income (Loss) |
$5,502,500 |
$2,931,700 |
|
|
|
|
Majors
|
|
|
|
Operating Revenue |
$107,286,167 |
$116,635,285 |
|
Operating Expense |
$99,725,014 |
$110,052,754 |
|
Operating Profit (Loss) |
$7,561,153 |
$6,582,531 |
|
Net Income (Loss) |
$5,154,900 |
$2,648,651 |
|
|
|
|
Nationals
|
|
|
|
Operating Revenue |
$10,931,853 |
$11,869,686 |
|
Operating Expense |
$10,115,275 |
$11,335,009 |
|
Operating Profit (Loss) |
$816,578 |
$534,677 |
|
Net Income (Loss) |
$188,761 |
$59,412 |
|
|
|
|
Large Regionals
|
|
|
|
Operating Revenue |
$820,432 |
$957,779 |
|
Operating Expense |
$795,128 |
$1,001,226 |
|
Operating Profit (Loss) |
$25,304 |
($43,446) |
|
Net Income (Loss) |
$16,591 |
($70,591) |
|
|
|
|
Medium
Regionals
|
|
|
|
Operating Revenue |
$416,474 |
$621,507 |
|
Operating Expense |
$483,086 |
$406,981 |
|
Operating Profit (Loss) |
($66,612) |
$214,526 |
|
Net Income (Loss) |
($82,910) |
$150,395 |
|
|
|
|
Small
Certificated
|
|
|
|
Operating Revenue |
$2,685,900 |
$3,108,900 |
|
Operating Expense |
$2,364,400 |
$2,808,400 |
|
Operating Profit (Loss) |
$320,500 |
$300,500 |
|
Net Income (Loss) |
$229,500 |
$156,700 |
|
|
|
|
Commuters
|
|
|
|
Operating Revenue |
$1,100,100 |
$1,556,900 |
|
Operating Expense |
$1,082,000 |
$1,627,000 |
|
Operating Profit (Loss) |
$18,100 |
($70,100) |
|
Net Income (Loss) |
($4,400) |
($12,900) |
###