The U.S. airline industry made some $15.5 billion in profits in 2017, thanks to fees from checked bags and reservation changes, according to a new report from the Federal Bureau of Transportation Statistics.
The 23 leading U.S. airlines posted after-tax profits of $15.5 billion last year, a big jump from $14 billion the previous year. That’s a 10.2 percent increase.
Revenues were $175.3 billion, including $130.5 billion from airfares, $4.6 billion from baggage fees and $2.9 billion from reservation change fees. The data didn’t show revenues from other sources, like seating assignments and on-board sales of food and entertainment.
U.S. airlines saw the greatest moneymaker from domestic flights. After-tax net profits on those fares rose to $13.4 billion from $10.3 billion in 2016, while profits on international routes declined from $3.8 billion in 2016 to $2.1 billion in 2017.
Profits would have been even higher in 2017 were it not for high fuel costs, which rose 16.3 percent over 2016.
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