For U.S. airlines, Q4 earnings season is now complete. And as is customary these days, all players produced solid profits. Collectively, Delta, American, United, Southwest, Alaska, JetBlue, Hawaiian, Spirit, and Allegiant reached a double-digit operating margin, topping 10% on nearly $46b in revenues. For all of 2019, they earned 11% on $184b. The year before: 10% on $175b. No other country has an airline industry so stable and profitable.
What were the highlights of the final quarter of the final year of the decade?
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