DOT – US Airlines report $1bn after-tax loss in Q1, 2023

Airlines in United States collectively reported over $1 billion after-tax net loss during the Q1 of 2023 and a pre-tax operating gain of $32 million. The overall result is nearly $4 billion better than last year’s first quarter, when the after-tax net loss amounted to $5.1 billion. The US Department of Transportation (DOT) compiled data from 26 scheduled US passenger airlines. According to the DOT, total operating revenue for the first quarter 2023 was $52.9 billion with total for fares amounting to $39.5 billion, or 74.6%, compared to 68.9% in 1Q 2022. The baggage fee totalled $1.7 billion, representing 3.3%, compared to 3.7%