The Major and Legacy Airlines in the U.S. continue to report record profits as the forecast growth of the airline industry becomes reality. Airlines are using the money to fuel expansion, buy new aircraft and fly new routes. Also true to forecasts, the record growth of profits has also increased the demand for new commercial pilots to enter the airline industry.
United Airlines reported a net profit of $508 million for the first quarter of 2015. This is a $1.12 billion improvement to profitability from the company’s $609 million net loss in the same quarter of 2014.
“It was the highest first-quarter in United’s history,” United’s chairman, president and CEO Jeff Smisek said. “We are making significant progress on our long-term plan to reduce costs, improve our margins and grow our earnings, and expect our second-quarter pre-tax margin to be between 12% and 14%, excluding special items.”
As reported in a previous post, Delta Air Lines announced that it had the most profitable quarter in the history of the airline.
Also coming off its best-ever full-year performance in 2014, Southwest Airlines’ profitability continued in the first quarter of 2015 with net income of $453 million, nearly tripling its net profit of $152 million in the same period last year.
Allegiant Air posted its 49th consecutive profitable quarter in first quarter of 2015 in spite of problems caused by an ongoing labor dispute with Allegiant’s pilots.
Alaska Air Group, parent company of Alaska Airlines and Horizon Air, reported a first-quarter net income of $149 million, up significantly from last year’s first-quarter net income of $94 million.
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