The Big 3 US airlines American, Delta and United, increase 3Q2015 profits despite lower unit revenue

The large three US global network airlines, American, Delta and United, are maintaining the paradox in their financial reports for 3Q2015 - deepening unit revenue declines coupled with margins that should exceed the prior year's performance. The improving margins are driven in large part by lower fuel prices, which seem on pace to remain far below historical highs for at least the short term.

American, Delta and United have all revised their capacity forecasts over the course of 2015 as demand in global geographies has been affected by general macroeconomic weakness, also a factor in falling unit revenues experienced by most US airlines during the course of 2015. Generally, it seems the big three airlines are attempting to keep their capacity growth in line with GDP estimates.

It is not clear if efforts by the US major airlines to steer investors away from a singular focus on unit revenue have been totally effective. But those airlines will no doubt continue to tout their strong top line performance as unit revenue degradation continues into at least early 2016.