Click to enlarge.
US Airlines net profit was $1.6 billion in Q3 2025, a decrease of profit compared to Q3 2024 of $2.1 billion, according to the Bureau of Transportation Statistics (BTS) today.
“U.S. scheduled passenger airlines reported a third-quarter 2025 after-tax net income of $1.6 billion and a pre-tax operating profit of $2.7 billion. One year earlier, in the third quarter of 2024, the airlines reported an after-tax net income of $2.1 billion and a pre-tax operating profit of $3.1 billion,” BTS said in a release.
U.S. Scheduled Passenger Airlines After-Tax Net Income
- $1.6 billion gain in Q3 2025
- Compared to $4.0 billion gain in Q2 2025
- Compared to $2.1 billion gain in Q3 2024
Pre-tax Operating Profit
- $2.7 billion gain in Q3 2025
- Compared to $5.0 billion gain in Q2 2025
- Compared to $3.1 billion gain in Q3 2024
Total Q3 2025 Operating Revenue $64.6 billion
- Share of total Q3 2025 operating revenue
- Fares $47.6 billion, 73.6% compared to 75.5% in Q3 2024
- Baggage fees $2.0 billion, 3.1% compared to 3.0% in Q3 2024
- Reservation change fees $275 million, 0.4% compared to 0.4% in Q3 2024
(Fees are included for calculations of net income, operating revenue and operating profit or loss.)
Total Q3 2025 Operating Expenses $61.9 billion
- Share of total Q3 2025 operating revenue
- Fares $10.5 billion, 17.0% compared to 18.5% in Q3 2024
- Labor $23.3 billion, 37.7% compared to 36.4% in Q3 2024
International Operations, includes 18 U.S. Airlines
After-tax international net profit (net income)
- $858 million gain in Q3 2025
- Compared to $1.8 billion gain in Q2 2025
- Compared to $1.3 billion gain in Q3 2024
Pre-tax International Operating Profit
- $1.2 billion gain in Q3 2025
- Compared to $2.0 billion gain in Q2 2025
- Compared to $1.7 billion gain in Q3 2024
Q3 2025 International Operating Revenue $17.0 billion
Share of Q3 2025 international operating revenue
- Fares $14.3 billion, 83.9%, compared to 84.9% in Q3 2024
- Baggage fees $371 million, 2.2%, compared to 2.1% in Q3 2024
- Reservation change fees $58 million, 0.3%, compared to 0.3% in Q3 2024
- (Fees are included for calculations of net income, operating revenue and operating profit or loss.)
Q3 2025 International Operating Expenses $15.9 billion, of which Share of total Q3 2025 international operating expenses
- Fuel $3.5 billion, 22.1%, compared to 23.2% in Q3 2024
- Labor $6.1 billion, 38.7%, compared to 36.5% in Q3 2024
3rd 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.
System-wide Net Income Margin
- 5% in Q32025
- Compared to 3.3% in Q3 2024
Operating Margin
- 2% in Q22025
- Compared to 4.9% in Q3 2024
Domestic Net Income Margin
- 6% in Q32025
- Compared to 1.7% in Q3 2024
Operating Margin
- 3% in Q32025
- Compared to 3.0% in Q32024
International Net Income Margin
- 0% in Q3 2025
- Compared to 7.5% in Q3 2024
Operating Margin
- 8% in Q3 2025
- Compared to 10.0% in Q3 2024
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Q3 2025 Airline Profits in Trump Slump
Click to enlarge.
US Airlines net profit was $1.6 billion in Q3 2025, a decrease of profit compared to Q3 2024 of $2.1 billion, according to the Bureau of Transportation Statistics (BTS) today.
“U.S. scheduled passenger airlines reported a third-quarter 2025 after-tax net income of $1.6 billion and a pre-tax operating profit of $2.7 billion. One year earlier, in the third quarter of 2024, the airlines reported an after-tax net income of $2.1 billion and a pre-tax operating profit of $3.1 billion,” BTS said in a release.
U.S. Scheduled Passenger Airlines After-Tax Net Income
Pre-tax Operating Profit
Total Q3 2025 Operating Revenue $64.6 billion
(Fees are included for calculations of net income, operating revenue and operating profit or loss.)
Total Q3 2025 Operating Expenses $61.9 billion
International Operations, includes 18 U.S. Airlines
After-tax international net profit (net income)
Pre-tax International Operating Profit
Q3 2025 International Operating Revenue $17.0 billion
Share of Q3 2025 international operating revenue
Q3 2025 International Operating Expenses $15.9 billion, of which Share of total Q3 2025 international operating expenses
3rd 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.
System-wide Net Income Margin
Operating Margin
Domestic Net Income Margin
Operating Margin
International Net Income Margin
Operating Margin
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.