Dallas Fort Worth Airport (Photo: Wikipedia Commons)

According to statistics from the US Bureau of Transportation, US scheduled passenger airlines reported a net profit after taxes of $1 billion in the second quarter of 2021. A significant improvement despite a pre-tax operating loss of $3.6 billion. The second quarter results represent the first profit since the fourth quarter of 2019, before the onset of the COVID-19 pandemic.

In the second quarter of 2021, this reduced U.S. airlines

‘ first quarter losses by 124%. The $1 billion in net income after taxes in the second quarter represents a $5.2 billion difference from the $4.2 billion loss in the first quarter.

The second quarter pre-tax operating loss was $3.6 billion. While still high, this was a $9.1 billion reduction from the $12.7 billion loss in the first quarter.

This improvement is primarily domestic, as travel restrictions continue to affect international demand. And this is likely to continue, as the US government remains reluctant to reopen its borders. The domestic business generated a net profit before tax of 1.8 billion in the second quarter.

Visible improvement

Looking at

the results of the 24 major US airlines, the figures are as follows

: –

Profit/loss after tax

$1.0 billion profit in Q2 2021
Compared to a loss of $4.2 billion in Q1 2021.
Compared to a loss of $11.0 billion in Q2 2020.
Compared to a profit of $4.8 billion in 2Q 2019, prior to the pandemic.

Pre-tax operating profit/loss

Losses of $3.6 billion in 2Q2021
Compared to a loss of $12.7 billion in 1Q2021.
Compared to a loss of $16.3 billion in 2Q2020.
Compared to a profit of $6.9 billion in 2Q 2019 before the pandemic.

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Total Q2 2021 operating revenue: $31.6 billion

– Share of total Q2 2021 operating revenue

Ticket sales: $20.7 billion, 65.5%, compared to $4.0 billion in Q2 2020.
Baggage fees: $1.4 billion, 4.4%, compared to $221.2 million in Q2 2020.
Rebooking fees: $137.2 million, or 0.4%, compared to $80.8 million in Q2 2020.

Fuel

Expense

: $5.5 billion, 15.6%, compared to $1.2 billion in Q2 2020

.

Labor: $12.5 billion, or 35.7%, versus $11.3 billion in 2Q20.

International traffic still at a standstill

A shadow on the picture remains international traffic, still affected by US government restrictions. Losses still amounted to $773.8 million in the second quarter. This is an improvement on the first quarter, as for the first time since the pandemic this loss has fallen below the billion-dollar mark.

– International net income/loss after tax

Loss of $773.8 million in Q2 2021
Compared to a loss of $1.8 billion in Q1 2021.
Compared to a loss of $2.1 billion in 2Q2020.
Compared to a profit of $1.2 billion in Q2 2019 before the pandemic.

– International operating profit/loss before tax

1.5 billion loss in 2Q2021
Compared to a $3.0 billion loss in 1Q2021.
Compared to a loss of $2.1 billion in 2Q2020.
Compared to a profit of $1.6 billion in Q2 2019 before the pandemic.

– International operating revenue in Q2 2021: $5.1 billion

– Share of total international operating revenue in Q2 2021

Ticket sales: $3.3 billion, 64.7%, compared to $340.0 million in Q2 2020.
Baggage fees: $250.0 million, 4.9%, compared to $19.5 million in 2Q 2020.
Reservation change fees: $16.3 million, 0.3%, compared to $18.0 million in Q2 2020.

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