Issue Summary

The first quarter of 2023 will end in just a few days, making way for what’s typically a busier and more financially rewarding period of the year for most airlines. Looking back at the fourth quarter, it was undeniably a good one. Based on a sample of 50 airlines that reported their Q4 results, the industry earned a collective operating margin of 8 percent. That’s $9.4 billion in operating profits off a base of $120.2 billion in revenues.