Air Transport
Profits Increase as Traffic Drops
Ten major airlines earned total net profits of $13.5 million and operating profits of $83.5 million in the second quarter of 1981, the first time since the third quarter of 1980 that they earned both net and operating profits. The profits came despite a 9% decline in traffic (AW&ST July 20, p. 26) and reflect significant cutbacks in capacity and yield increases that were in the 20% range for many of the major airlines.
By Michael Feazel8 min