The U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported that U.S. scheduled passenger airlines reported an after-tax net profit of $3.1 billion in the first quarter of 2016, down from $7.7 billion in the fourth quarter of 2015 and virtually unchanged from $3.1 billion in the first quarter of 2015.

In addition to the after-tax net profit of $3.1 billion based on net income reports, the scheduled service passenger airlines reported a $5.6 billion pre-tax operating profit in the first quarter of 2016, down from $5.9 billion in the fourth quarter of 2015 and up from $5.1 billion in the first quarter of 2015. The airlines reported a pre-tax operating profit - as a group - for the 19th consecutive quarter.

As a group, the 10 U.S. scheduled passenger airlines with the highest operating revenue in the first quarter of 2016 reported an after-tax net profit of $3.1 billion in the first quarter of 2016, down from a profit of $7.4 billion in the fourth quarter of 2015 and up from a profit of $2.9 billion in the first quarter of 2015. These airlines carried 82.5% of U.S. airlines’ scheduled service passengers in the first quarter and accounted for 99.9% of the scheduled passenger airline after-tax net profit.