Traffic and profit losses set US airline records

The nation's scheduled airlines showed a decline of about 5 percent in revenue-passenger-miles in 1980 -- the largest in history -- and record operating losses of nearly $200 million, preliminary results show. However, there are indications of a return to modest profits in 1981.

In a state-of-the-industry report on 1980 results and 1981 projections, Goerge W. James, senior vice-president for economics and finance of the Air Transport Association, said he expects the 1981 volume of the industry's revenue-passenger- miles to range from a decline of 2 percent to a gain of 2 percent and described such a performance as "about flat."

Mr. James projected a 1981 operating profit level of about $750 million, a return of less than 2 percent on revenues of some $38 billion, but a turnaround from the industry's 1980 operating losses. A number of key assumptions underlie both the traffic and financial projections for 1981, Mr. James stressed.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK