Airlines rake in $5.5 billion, the most profitable quarter since 2007

Lower fuel costs and steady travel demand continue to boost the nation’s airlines, which enjoyed the most profitable quarter since 2007.

Commercial carriers, led by American Airlines, reported net income of $5.5 billion for the three months that ended in June, a 53 percent increase from the same period last year, according to financial data released by the U.S. Department of Transportation.

The formula for the ninth straight profitable quarter: fuel costs that have dropped about 30 percent since the same period last year combined with passenger totals that have jumped nearly 10 percent and fees from checked bags and reservation changes that have climbed about 5 percent, according to federal data.

Revenue from fares has remained nearly flat over the last year.

The most profitable airline in the second quarter was Delta Air Lines, with net income of $1.5 billion, up nearly 85 percent compared with the same period last year, according to the U.S. Department of Transportation.

The biggest profit increase was reported by American Airlines, which collected $1.05 billion in the second quarter, up nearly 300 percent compared with the same period last year, according to the federal data. American has become the world’s largest carrier since announcing a merger with US Airways in 2013.

This story was originally published September 21, 2015 at 2:38 PM with the headline "Airlines rake in $5.5 billion, the most profitable quarter since 2007."