Airlines for America (A4A) reported (29-Aug-2012) the largest US airlines are continuing to report record operational performance with the 10 US passenger airlines reporting an 8.2% year-on-year increase in operating revenue in the first six months of 2012. Costs, however, increased by 9.4% attributable to a 13.1% increase in fuel costs, which accounts for 34% of total operating costs. The 10 US airlines reported a net loss of USD1.07 billion for net margin of -1.5%, lower than the -0.4% in 1H2011. [more - original PR]
A4A: “Airlines continue to aggressively manage against steep cost increases, including fuel prices, which are expected to hit a record high in 2012 and continue to outpace increasing revenues,” John Heimlich, vice president and chief economist. Source: Company statement, 29-Aug-2012.