US airlines flat on Q1 2015 but baggage revenue is up

US airlines made $4.6 billion less in the first quarter of 2016 than the previous quarter, according to the Department of Transportation’s Bureau of Transportation Statistics. Passenger airlines reported a net profit of $3.1 billion in the first quarter of 2016, down from $7.7 billion in the fourth quarter of 2015. But profits are flat on Q1 2015. Total operating revenue from January to March was $39 billion, with 74% coming from fares. Operating expenses during that time frame were $33.4 billion, with fuel costs accounting for $5.4 billion, or 16.1%. Carriers collected nearly $947 million in baggage fees in