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Aviation industry

How The Four Biggest U.S. Airlines Compare

In 2024, global airline revenues are forecast to rise to almost $1 trillion . If last year's financial results of the big four of U.S. aviation - American, Delta, Southwest and United - are any indication, these airlines alone could combine for a fifth of the total worldwide revenue. Results for the first six months of 2024 suggest the four companies are well on track for this milestone.

As our chart based on earnings results shows, Delta and United lead the pack in terms of revenue and net income after taxes. Both airlines tallied about $25 billion in revenue. Net income stood at $1.3 billion for the former and $1.2 billion for the latter. The biggest discrepancy between the two can be seen in the revenue passenger miles, which is the "number of revenue passengers multiplied by the total distance traveled" . Regarding this metric and fuel consumption, United is closer to American. However, the latter posted a net income of $405 million in the first half of 2024, lagging behind Delta and United despite and .

American's lot is unlikely to improve in the remaining six months of 2024. The company dropped its full-year guidance for earnings per diluted share from between $2.25 and $3.25 at the end of March to between $0.7 and $1.3 at the end of June, citing, among other reasons, a continuation of "the company’s previous sales and distribution strategy" as the main driver behind lower guidance. is also likely to dampen revenue and income outlooks.

The other three companies, however, are unlikely to fare better. United its domestic capacity for the upcoming months, Southwest is revenues for the third quarter to be flat or down two percent year-over-year and Delta also lower capacity growth for the period between July and September. These outlooks are a signifier of a recent trend, as illustrates. MW reporter Claudia Assis connects less-than-positive outlooks for the second half of 2024 to "a mismatch between capacity and demand" and ongoing promotions affecting the airlines' bottom lines.

Description

This chart shows selected economical indicators of American, Delta, Southwest and United.

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Southwest Airlines revenue 2010-2025
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American Airlines Group operating revenue 2009-2025
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United Airlines Holdings operating revenue 2009-2025
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American Airlines Group fuel consumption by type 2020-2024
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Ad spending of United Airlines Holdings, Inc. worldwide 2018-2025
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American Airlines Group total emissions 2020-2024

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