US airline net profit declines 86% to USD390m in 2011

Airlines for America (A4A) reported (28-Feb-2012) large US airlines reported a combined profit of USD390 million in 2011, the second consecutive year of "meager" profits. The industry association reiterated its call for a national airline policy that would help rationalise the industry's regulatory and tax environment, improve infrastructure, ensuring US airlines can compete globally. Financial highlights include:

• Operating revenue: +12.6% year-on-year;
• Operating costs: +15.5%;
  • Fuel: +36.1%;
• Net profit: USD390 million, -86%. [more - original PR]

Airlines for America: "The commercial aviation industry creates more than 10 million good-paying US jobs and drives more than USD1 trillion in annual economic activity, and can do more to enable American businesses to connect to global markets if the government takes a holistic approach that addresses the fundamental tax, regulatory and infrastructure challenges that consistently undermine this industry in the United States," Nicholas Calio, president and CEO. Source: Company statement, 28-Feb-2012.