U.S. scheduled passenger airlines reported a second-quarter 2020 after-tax net loss of $11.0 billion and a pre-tax operating loss of $16.2 billion.

U.S. scheduled passenger airlines reported a second-quarter 2020 after-tax net loss of $11.0 billion and a pre-tax operating loss of $16.2 billion.

These second-quarter losses are the second consecutive quarterly losses following 27 consecutive quarterly after-tax net profits and 35 consecutive quarterly pre-tax operating profits.

Results for All 23 Scheduled U.S. Passenger Airlines

After-tax international net profit (net income)

  • $2.1 billion loss in 2Q 2020
  • Down from $1.2 billion loss in 1Q 2020
  • Down from $1.2 billion gain in 2Q 2019

Pre-tax international operating profit

  • $2.1 billion loss in 2Q 2020
  • Down from $722 million loss in 1Q 2020
  • Down from $1.6 billion profit in 2Q 2019
  • Total 2Q 2020 international operating expenses: $3.2 billion,
    • Fuel costs accounted for $253.8 million, 7.9% of international operating expenses
    • Labor costs accounted for $1.8 billion, 54.8% of international operating expenses

2nd Quarter Margins

Net margin is the net income or loss as a percentage of operating revenue. Operating margin is the operating profit or loss as a percentage of operating revenue.

Systemwide:

Net income margin:

  • -140.8% in 2Q2020
  • Down from 9.3% in 2Q 2019

Operating margin:

  • -207.1% in 2Q2020
  • Down from 13.4% in 2Q 2019

Domestic

Net income margin:

  • -132.4% in 2Q2020
  • Down from 9.2% in 2Q 2019

Operating margin:

  • -208.9% in 2Q2020
  • Down from 13.5% in 2Q 2020

International

Net income margin:

  • -193.1% in 2Q2020
  • Down from 9.6% in 2Q 2019

Operating margin:

  • -196.1% in 2Q2020
  • Down from 12.9% in 2Q 2019