Airlines for America: US carriers report USD7.3b in net profit for 2014

Airlines for America (A4A) stated (11-Mar-2015) 10 US carriers collectively reported a net profit of USD7.3 billion in 2014, or 4.6% of revenues. The carriers "reduced debt, invested in their workforces, renewed their fleets and met customer demand by offering new and improved products and additional destinations and seats", according to A4A. US carrier reinvested USD13.9 billion in the product and customer experience in 2014, and reported an increase of 5% in operating revenues. A4A VP and chief economist John Heimlich stated, "US airline industry continued its upward climb in 2014, recording a fifth consecutive year of modest profitability, despite incurring USD48 billion in fuel costs as well as increases in employee wages and benefits, airport rents and landing fees, and several other non-fuel expenses. After four years of $100-per-barrel oil, the recent dip in the price of jet fuel is finally giving the carriers some breathing room to reinvest in the product, reward employees and shareholders, and reduce debt, all while boosting capacity." [more - original PR]