The largest United States Air Carriers reported increases in revenue, in most cases because of boosts in passenger fares. Operating revenues jumped $3.2 billion collectively for the large airlines, and every company except American Airlines parent AMR saw revenues climb in double digits, and they cut their operating loss from first quarter 2010.
U.S. carriers also saw their fuel costs dramatically increase more than $1.9 billion in the first quarter compared to a year earlier.
– Alaska Air Group and AMR each improved their net income by $69 million. AMR still wound up with a $436 million loss, but Alaska jumped to $74 million in profit. JetBlue Airways also reported improved profits.
– Four of the seven reported operating profits despite the big jump in fuel costs. AMR trailed only Alaska in improving its operating results, but still had the biggest operating loss by far.
– With an 18 percent increase in revenues, Southwest Airlines led the industry in that category.
– Alaska, American, Delta, United Continental, JetBlue, Southwest and US Airways all increased their Operating Revenue by nine to eighteen percent.
It is widely believed that oil prices will subside along with political uncertainty in the Middle East, and that the reported higher revenue figures will then translate into increased profitability once again for these carriers.