A Blueprint For The Future
smart skiesa blueprint for the future2006 Economic Report
Smart Skies a blueprint for the futureU.S. Airlines – 2005Report ContentUnless otherwise noted, the dataprovided in this report reflects theactivity of the 139 U.S. passengerand cargo airlines shown on thispage, as recorded by the U.S.Department of Transportation(DOT) in 2005, under Chapter 411of Title 49 of the U.S. Code.Majors (20)1Nationals (33)2Regionals (31)3Commuters (55)3,4ABXAirTranAlaskaAmericanAmerican SUS AirwaysAir Transport InternationalAir WisconsinAllegiantAlohaAmerijet InternationalASTARAtlantic SoutheastChampionContinental MicronesiaEvergreen InternationalExecutiveFlorida taMesabaMiamiMidwestNorth AmericanOmniPinnaclePSARyan InternationalSpiritSun CountryTrans StatesTransmeridianUSA 3000USA JetWorldAerodynamicsAmeristarAsia PacificCapital CargoCaribbean SunCasino ExpressCenturionChicago ExpressCustomExpress.NetFalcon Air ExpressFreedomGulf & CaribbeanKitty HawkLyndenNetJetsNorthernPacePan AmericanPlanetPrimarisRenownSierra PacificSkyKingSoutheastSouthernSunworld eAir MidwestAir St. ThomasAlaska Central ExpressAlaska Seaplane ServiceAloha IslandArctic CircleArctic TransportationArizona ExpressBakerBemidjiBeringBig SkyBoston-MaineCape AirCape SmytheChautauquaColganCommutAirCorporateEllis Air TaxiERA AviationFlying BoatFrontier Flying ServiceGrand Canyon HelicoptersGrantGreat LakesGulfstreamHagelandIliamnaInland AviationIsland Air ServiceL.A.B. Flying ServiceMountain BirdDue to rounding, in some cases,the sum of numbers in this reportmay not match the printed total.Also, certain historical data hasbeen restated to reflect the mostcurrent information available.For a glossary of terms and otherinformation regarding content,visit www.airlines.org and click onEconomics. For further informationon this report and other ATA publications, click on Publications.1234Annual revenues in excess of 1 billion.Annual revenues between 100 million and 1 billion.Annual revenues under 100 million.Operate aircraft of 60 or fewer seats or a maximum payload capacity of 18,000 pounds or less. Member, Air Transport Association2 Air Transport AssociationPacific Island ttle AmericaSkagwaySkywaySmokey BaySpernakTananaTaquanValley Air ExpressVintage Props & JetsWarbelow’sWardWest IsleWings of AlaskaWrightYute Air Alaska
GoalsContentsThe Air Transport Associationof America, Inc. (ATA) servesits member airlines and theircustomers by:Founded in 1936, the Air Transport Association of America is the nation’s oldest and largest airlinetrade association. The association’s fundamental purpose is to foster a business and regulatoryenvironment that ensures safe and secure air transportation and enables U.S. airlines to flourish,stimulating economic growth locally, nationally and internationally. By working with its members inthe technical, legal and political arenas, ATA leads industry efforts to fashion crucial aviation policy andsupports measures that enhance aviation safety, security and well-being. ATA goals include:Mission . . . . . . . . . . . . . . . . . . . . . . . . .3Goals . . . . . . . . . . . . . . . . . . . . . . . . . .3President’s Letter . . . . . . . . . . . . . . . .4Officers . . . . . . . . . . . . . . . . . . . . . . . .4Highlights . . . . . . . . . . . . . . . . . . . . . .6Eleven-Year Summary . . . . . . . . . . . .7Results by Region . . . . . . . . . . . . . . . .8Industry Review . . . . . . . . . . . . . . . . .9Safety . . . . . . . . . . . . . . . . . . . . . . .9Environment . . . . . . . . . . . . . . . . .9E-Business . . . . . . . . . . . . . . . . . .10Fleet . . . . . . . . . . . . . . . . . . . . . . .10Operations . . . . . . . . . . . . . . . . .10Revenues . . . . . . . . . . . . . . . . . . .12Expenses . . . . . . . . . . . . . . . . . . .12Earnings . . . . . . . . . . . . . . . . . . .13Capital Structure . . . . . . . . . . . .14Jobs . . . . . . . . . . . . . . . . . . . . . . .14Outlook . . . . . . . . . . . . . . . . . . . .14Smart Solutions . . . . . . . . . . . . . . . .15Environment . . . . . . . . . . . . . . . .15Air Traffic Control . . . . . . . . . . .16FAA Funding . . . . . . . . . . . . . . . .17Safety and Security . . . . . . . . . .18Index of Charts and Tables . . . . . . .28ATA Members . . . . . . . . . . . . . . . . . .31 Assisting the airline industryin continuing to providethe world’s safest systemof transportation Transmitting technicalexpertise and operationalknowledge to improvesafety, service and efficiency Advocating fair airlinetaxation and regulationworldwide to foster a healthy,competitive industry Developing and coordinatingindustry actions that areenvironmentally beneficial,economically reasonable andtechnologically feasible Championing the world’s safest transportation system Protecting airline passengers, crew members, aircraft and cargo, working collaboratively withthe Department of Homeland Security (DHS) and the Transportation Security Administration (TSA) Modernizing the U.S. air traffic management system via the Federal Aviation Administration (FAA) Challenging government policies that impose unwise regulatory burdens or impinge onmarketplace freedoms Reducing the disproportionate share of taxes and fees paid by airlines and their customers Improving the industry’s ability to attract the capital necessary to meet future demands Shaping international aviation policy to ensure that U.S. and foreign carriers can competeon equal termsDuring its 70-year history, ATA has seen the airline industry grow from the small, pioneering companiesof the 1930s into indispensable facilitators of the global economy. ATA and its members continueto play a vital role in shaping the future of air transportation.Smart Skies a blueprint for the futureMissionIn 1936, 14 airlines met in Chicago to form the Air TransportAssociation of America “to do all things tending to promotethe betterment of airline business, and in general, to doeverything in its power to best serve the interests and welfareof the members of this association and the public at large.”Air Transport Association of AmericaFounded: January 3,1936goalsAir Transport Association 3
Smart Skies a blueprint for the futurePresident’s LetterOfficersThe reauthorization of the Airport and Airway Trust Fund (AATF), slated to occur before October 1,2007, involves decisions critical to the future of aviation and, equally important, to the future of ournation’s vibrant economy. The Air Transport Association and its member airlines want those decisions tomaximize the benefits to the traveling and shipping public – reaching the smartest solution possible.James C. MayPresident and Chief Executive OfficerLet me explain. Our aviation system faces a classic “fork in the road.” The road that we are on – theexisting U.S. air traffic control (ATC) system – is based on 1950s vintage design concepts that can nolonger be efficiently expanded to meet growing demand. As aircraft operations increase, from 45,000per day to the more than 61,000 per day projected for 2016, the traditional response of addingmore controllers, equipment and facilities will not avert ultimate gridlock. Today’s system – all 21 airtraffic control centers and 41,000-plus operations facilities – is aging rapidly and requires billions ofdollars in reinvestment just to keep the outmoded technology functioning. The status quo is onechoice available to Congress, but it is the wrong course to follow.The wise choice – supported by empirical data and decades of analysis – is to begin at once the transitionto an information-centric, satellite-driven, digital air traffic management system, taking full advantageof existing and developing technologies and procedures. Additionally, facility consolidation andleveraged investments will result in significant resource savings. Efficient growth in system capacitytranslates into an expanding national economy, environmental benefits and continuing world aviationleadership. It is the smart solution.While the choice seems obvious, making that choice will be extremelychallenging. The transition means a new approach by Congress to the wayfunding and investment decisions are made, as well as systematic facilityconsolidation – without political interference; congressional jurisdictionalchanges and the establishment of real system-user input on decision-making; innovative financingto accelerate technological deployment; and a commitment by system users to pay for the servicesthat they consume. All of us must embrace change.In the coming year, we face both the challenge and the opportunity of change. It is critically important –not only to the airlines but indeed to our nation’s economy – that we meet the challenge and seizethe opportunity. To learn more, we invite you to visit the Smart Skies Web site: www.smartskies.org.We look forward to working with all interested parties to implement the fair, safe and smart solution.4 Air Transport AssociationJohn M. MeenanExecutive Vice President andChief Operating OfficerPaul R. ArchambeaultVice President,Chief Financial Officer and TreasurerBasil J. BarimoVice President, Operations and SafetyDavid A. BergVice President,General Counsel and SecretaryDavid A. CastelveterVice President, CommunicationsJohn P. HeimlichVice President and Chief EconomistPatricia G. HigginbothamVice President, PolicySharon L. PinkertonVice President, Government AffairsRegina A. SullivanVice President,Government/Congressional AffairsJames L. CaseyDeputy General Counsel
FAA Projects Unprecedented Growth in Flight OperationsThe Challenges America’s 1950s-era air traffic control (ATC) system cannot copewith 21st century demands The Federal Aviation Administration (FAA) predicts unprecedentedoperations growth from 2006 to 2016 Airline customers will increasingly encounter gridlock in the e Solutions Leverage available modern technologies and procedures whileretiring outdated infrastructure and processes Transform the air traffic control system from a 20th century analog,ground-based architecture to a 21st century digital, satellite-basedsuite of tools Create a fair funding arrangement that will both finance thisoverdue transformation and ensure a predictable revenue streamto operate the ATC system1991198637.236.3Daily Instrument Flight Rules (IFR) Departures (Thousands)Source: Federal Aviation Administration Aerospace ForecastsWho Uses the ATC System?UnknownGovernment* 0.4%5.0%General Aviation1.8%Business Aviation4.4%General Aviation10.8%The Benefits Improved operational reliability and customer satisfaction Enhanced ability to meet the expected growth in travel andshipping by air Less wasted time for air carriers and their customers Reduced energy consumption, noise and emissions Financial savings for aircraft operators and aviation suppliers Increased contribution of aviation to the nation’s economy Further improvement in the U.S. airline industry’s alreadyimpressive safety recordWho Pays for the ATC System?Business Aviation15.6%Airlines68.1%* Includes civilian and military.Source: Federal Aviation Administration Fiscal Year 2004 data; ATA analysisAirlines93.7%Smart Skies a blueprint for the futureIt’s Time for America to Have a21st Century Air Traffic Control System
Scheduled ServiceTicket Prices vs.U.S. Consumer PricesOperational HighlightsU.S. Airlines – Scheduled Service (In millions, except as noted)12115980102030405Passenger Volumes750725Change (%)5.14.69.66.25.09.73.31.59.22.1 pts.2.6 pts.0.4 pts.0.2(1.6)1.91.00.76.81101051009590858000 0102030405 Consumer Price Index International Airfare Domestic AirfareNet Profit (Loss)20700Financial Highlights675U.S. Airlines (In millions, except as noted)6506256000102030405Cargo VolumesScheduled Service282624Passenger Revenue1Domestic ServiceInternational ServiceCargo Revenue1Domestic ServiceInternational ServiceCharter RevenuePassengerPropertyOther RevenueTotal Operating RevenuesTotal Operating ExpensesOperating Profit (Loss)Net Profit (Loss)22004 5,696134,462135,953(1,491)( 7,643)2005 30,822150,764150,465299( 5,673)Change nm25.8(1.1)(5.7)0.2(3.8)1.3 pts.1.9 pts.Dollars (Billions)Revenue Passengers Enplaned (Millions)Scheduled 1,51710,860657Index (2000 100)10Revenue Passengers EnplanedDomestic ServiceInternational ServiceRevenue Passenger Miles (RPMs)Domestic ServiceInternational ServiceAvailable Seat Miles (ASMs)Domestic ServiceInternational ServicePassenger Load Factor (%)Domestic ServiceInternational ServiceCargo Revenue Ton Miles (RTMs)Domestic ServiceInternational ServiceAircraft Departures (Thousands)Domestic ServiceInternational 40110,785616(2)(4)(6)(8)(10)(12)0102030405Profit Margins20(2)PercentMillions11Revenue Ton Miles (Billions)Smart Skies a blueprint for the futureAircraft Departures(4)(6)(8)22Operating Profit Margin (%)Net Profit Margin (%)22001020304056 Air Transport Association1 Scheduled service only.2 Excludes bankruptcy-related charges (reorganization expenses and fresh-start accounting gains).nm not meaningful(10)(12)01 02 03 Operating Net0405
U.S. Airlines (In millions, except as noted)2001320023199519961997199819992000Traffic and Operations1Revenue Passengers EnplanedRevenue Passenger Miles (RPMs)Available Seat Miles (ASMs)Passenger Load Factor (%)Average On-Flight Trip Length (Miles)Cargo Revenue Ton Miles (RTMs)Freight and ExpressMailRevenue Aircraft Miles (RAMs)Aircraft Departures (Thousands)Average Stage Length ,3486,5569,187714Financial ResultsOperating RevenuesPassenger1Freight and Express1Mail1CharterOtherOperating ExpensesOperating Profit (Loss)Interest Income (Expense)Other Income (Expense)2Net Profit (Loss)2 )(1,115) 2,311 9)(1,427) 2,727 738)(1,686) 5,119 753)(2,682) 4,847 833)(1,226) 5,277 193)(2,320) 2,486 (2,506)4,557( ,064646,410679,967Passenger Yield ( /RPM)1Passenger Unit Revenue ( /ASM)1Cargo Yield ( /RTM)1Operating Profit Margin (%)Net Profit Margin (%)2EmploymentAverage Full-Time Equivalents 7686 263)821( 11,008) 442)1,893( 2,371) 715)(2,437)( 7,643) (2,328)( 498552,857Smart Skies a blueprint for the futureEleven-Year SummaryScheduled service only.Excludes bankruptcy-related charges (reorganization expenses and fresh-start accounting gains).Financial results include cash compensation remitted to air carriers under the Air Transportation Safety and System Stabilization Act (P.L. 107-42).Financial results include security cost reimbursements remitted to carriers under P.L. 108-11, but exclude the fresh-start accounting extraordinary gain of US Airways.Air Transport Association 7
Smart Skies a blueprint for the futureResults by Region – 2005U.S. Airlines (In millions, except as noted)Passenger Traffic by RegionRevenue Passenger Miles –Scheduled 16,371607 .14,1351575231,0333,328 ,5073644329631,189 4,4531113456713,098 79.52,9226571,3002,7151,978 5,93677.61,05511,5177,89519,086686 93,44912.009.31Nonscheduled ServiceRevenue Passengers EnplanedRevenue Ton Miles – PassengerRevenue Ton Miles – OtherRevenue Ton Miles – l ServicesRevenue Ton Miles – PassengerRevenue Ton Miles – OtherRevenue Ton Miles – TotalAvailable Ton Miles – TotalWeight Load Factor – Total 18,796200,29059.3Scheduled ServiceRevenue Passengers EnplanedRevenue Passenger MilesAvailable Seat MilesRevenue Ton Miles – PassengerRevenue Ton Miles – Freight, Express and MailRevenue Ton Miles – TotalPassenger Load Factor (%)Average On-Flight Trip Length (Miles)Revenue Aircraft Departures (Thousands)Revenue Aircraft MilesRevenue Aircraft Hours (Thousands)Average Stage Length (Miles)Passenger RevenuePassenger Yield ( /RPM)Passenger Unit Revenue ( /ASM)TotalCargo Traffic by RegionRevenue Ton Miles –Scheduled 0.5%1 Includes some non-domestic service not reflected in the Atlantic, Latin or Pacific entities due to varying Department of Transportation (DOT) reporting requirements.Note: For reporting related to the conduct of scheduled service by passenger and cargo airlines, the DOT established, in 14 CFR 241, four separate air-carrier entities: Domestic – all operations within and between the 50 states of the United States, the District of Columbia, the Commonwealth of Puerto Rico and the U.S. Virgin Islands, and Canadian trans-border operations Atlantic – all operations via the Atlantic Ocean (excluding Bermuda) Latin – all operations within, to or from Latin American areas, including the non-U.S. Caribbean (including Bermuda and the Guianas), Mexico and South/Central America Pacific – all operations via the Pacific Ocean, including the North/Central Pacific, South Pacific (including Australia) and the Trust Territories8 Air Transport Association
The safety of passengers andcrew members remains ournumber-one priority.Safety TrendsU.S. Air Carriers Operating Under 14 CFR 121 – Scheduled 7Fatalities16034231128953102213221 Fatal accidents per 100,000 departures, excluding incidents resulting from illegal acts.Source: National Transportation Safety BoardIn 2005, U.S. airlines recorded afifth consecutive year of netlosses, at 5.7 billion – a five-yeartotal loss of 35.0 billion. The2001–2005 period has beenexceptionally challenging forairlines of all shapes and sizes.Airlines have been unable torecover their expenses and, inparticular, have been overwhelmed by inflated fuel costs.Due in part to an aggressive arrayof fuel conservation initiatives,the industry was able to ekeout a modest operating profitand shave its net losses by 2.0billion versus 2004. And whilespending on air travel remainedbelow 0.8 percent of the U.S.gross domestic product (GDP),versus the historical average of0.95 percent, airlines continuedto excel in the area of safety.SafetyIn 2005, the NationalTransportation Safety Board(NTSB) reported three fatal airlineaccidents out of 10.9 millionscheduled departures. Accordingto the National Safety Council,which measures passenger deathsper 100 million passenger miles,airlines are consistently thesafest mode of intercity travel,followed by bus, rail and theautomobile. Together with theFederal Aviation Administration(FAA) and the NTSB, airlinesstrive to achieve zero fatalitiesand accidents. The safety ofpassengers and crew membersremains our number-one priority.EnvironmentThe rising price of fuel in 2005intensified the airline industry’sefforts to increase fuel efficiency– the most effective means ofreducing emissions. By employingmore fuel-efficient operationalprocedures, reducing aircraftweight, cutting marginal routesand matching capacity moreclosely with demand, U.S. airlineswere able to carry more passengers and cargo in 2005 than in2000 while using approximately400 million fewer gallons of fuel.Smart Skies a blueprint for the future052005 Airline Industry ReviewThese voluntary measures haveresulted in significant reductionsof greenhouse gases and morelocalized ozone-forming pollutants. As the industry continuesto replace older aircraft withquieter and cleaner jets, peroperation noise and air qualityimpacts will diminish accordingly.U.S. carriers continue to workwith the International CivilAviation Organization (ICAO)on measures to address aviationnoise and emissions.Air Transport Association 9
Revenue Passenger Miles –Scheduled Service1210Percent Change86420(2)(4)(6)0102030405Against a backdrop ofsurging fuel prices,U.S. airlines continuedto retire older, lessfuel-efficient aircraft.In 2005, ATA helped secure thefollowing key accomplishments: Created a new e-businessprogram and collaborative Website for the development of dataexchange standards to supportengineering, maintenance,materiel and flight operations Developed a new standardthat defines common metrics,enabling companies to usecommon terminology whensubmitting data and measuringperformance of trading partners Harmonized the ATApermanent part-marking (barcode) standard with the newlymandated Department ofDefense (DoD) marking standard,allowing common use for bothcivil and military applicationsPassenger CapacityGrowthAvailable Seat Miles –Scheduled Service12108Percent ChangeSmart Skies a blueprint for the futurePassenger TrafficGrowthE-BusinessFor the past 40 years, air carriers,aerospace manufacturers, distributors, suppliers, service providersand other industry stakeholdershave collaborated to establishstandards for improving businessprocesses and informationexchange between airlines andtheir suppliers. Administered andpublished by ATA, these international standards have evolved tomeet the changing needs of theindustry and to embrace thelatest technological advances.6420(2)(4)(6)0102030405efficiency10 Air Transport Association Released a suite of Internetbased electronic procurementand invoicing commands,providing a migration path formore efficient procurement Entered into a collaborativeagreement with the AeroSpaceand Defence IndustriesAssociation of Europe (ASD)and Aerospace IndustriesAssociation (AIA) to enable asingle technical data specificationto be used for both civil andmilitary applications Developed a new specificationfor the electronic exchange ofAuthorized Release Certificatesto reduce document-handlingand -storage costs, improvedeterrence of suspectedunapproved parts and facilitateregulatory compliance Made significant progresstoward completion of a specification for the electronic exchangeof flight operations data (e.g.,flight crew operating manualsand master minimum equipmentlists) to provide for more timely,efficient and reliable dataAs a result of standardization,airlines and suppliers have seendramatic improvements in dataefficiency, security and consistency, significantly reducing thetime and costs required to deliverand retrieve operationallycritical information.FleetAgainst a backdrop of surgingfuel prices, U.S. airlines continuedto retire older, less fuel-efficientaircraft. In total, ATA members’operating fleets shrank to 4,331– down 176 airplanes from yearend 2004 and down 619 unitsfrom June 30, 2001.According to the FAA, the U.S.airline fleet included an estimated 7,836 aircraft at the endof 2005, comprising 3,953mainline passenger jets, 1,758regional airline jets, 1,104regional airline props and 1,021cargo jets. The FAA is projectingmainline passenger and cargojet fleets to grow to 4,028 and1,027, respectively, by the endof 2006.OperationsDespite extraordinarily highjet fuel prices and an unusuallyactive hurricane season, 2005was another record year forboth traffic and capacity.Passenger demand was strongacross all regions and grewfaster than seating capacity.A record 738.6 million passengers took to the skies on U.S.airlines in 2005, a 5.1 percentincrease over 2004. Domesticand international enplanementsgrew 4.6 percent and 9.6
Passenger LoadFactorScheduled Service7977PercentPassenger traffic, as measured insystemwide revenue passengermiles (RPMs), grew 6.2 percent.Domestic RPMs increased 5.0percent in 2005, outpacing thepost-deregulation era (1978–2004) average annual growthrate of 4.0 percent. Internationaltraffic increased an impressive9.7 percent, well above thehistoric average of 6.0 percent.Traffic growth was particularlystrong in the Latin arena, whereRPMs rose 13.9 percent.ongoing trade liberalizationand economic expansion.Meanwhile, the transatlanticmarket continued to fragment ascarriers initiated service to moresecondary cities. Responding tostrong leisure demand, U.S.airlines also initiated service tomany Caribbean destinations.757371690102030405Cargo Traffic GrowthRevenue Ton Miles –Scheduled Service12108Percent ChangeIn 2005, airlines kept capacitygrowth in check amid high fuelprices and continued financialdistress. Systemwide, availableseat miles (ASMs) rose only3.3 percent, in line with historicaverages and well below the8.7 percent increase from 2003to 2004. Domestic ASMs grewjust 1.5 percent. InternationalASMs rose 9.2 percent as manycarriers reoriented their networkstoward more lucrative overseasmarkets. China and Indiaprovided new opportunities forseveral carriers as a result of64With RPMs growing at nearlytwice the rate of ASMs, theindustry’s average load factorreached a post-World War IIrecord of 77.6 percent, up 2.1points from 2004. Despite severalbroad fare increases, the marketplace remained a relativelylow-fare environment. Given thiscontext, the best means forairlines to grow revenues was todrive more traffic through thesystem, which pushed load factorshigher. The average domesticload factor rose 2.6 points to 77.0percent; the average internationalload factor rose 0.4 points to79.5 percent.20(2)(4)(6)(8)0102030405As the largest air-travel market inthe United States, the New Yorkmetropolitan area captured thetop 12 domestic city pairs inorigin-destination (local)passengers, led by New YorkFort Lauderdale (averaging 5,699passengers per day, each way).From the airport perspective,Atlanta (ATL) ranked highest inannual passengers (85.9 million)and aircraft movements (980thousand). Memphis (MEM)remained the busiest air cargofacility, loading and unloading3.6 million metric tons of freightand mail, followed by Anchorage(ANC), Los Angeles (LAX) andLouisville (SDF).Air cargo growth was flat in2005, as a 1.6 percent drop indomestic scheduled revenue tonmiles (RTMs) offset 1.9 percentgrowth in international markets.Notably, a third of U.S. exports,by value, was transported by air.Looking forward, the FAA projects that U.S. airlines will carrymore than one billion passengersby 2015, with enplanementsexpected to rise an average of3.1 percent per year over thenext decade. The aviation community must prepare for thisgrowth by investing in the NextGeneration Air TransportationSystem (NGATS), the successor totoday’s antiquated air trafficcontrol system. Every minute ofaircraft delay in 2005 cost theindustry more than 62, for anannual total of nearly 6 billionacross the system.Smart Skies a blueprint for the futurepercent, respectively. Enplanement growth was strongest inthe Latin region, at 11.4 percent;Atlantic and Pacific enplanementsrose 7.4 percent.Share of U.S. Export Valueby Transport Mode – ource: Bureau of Transportation StatisticsAir Transport Association 11
U.S. CPI65.2ConstantDomestic25.432005 Cents International 5 vs. 2005 vs.1978 (%) 2004 .8(51.7)(0.6)Source: Air Transport Association and Bureau of Labor StatisticsMeanwhile, the average basketof U.S. goods, measured by theconsumer price index (CPI),rose 3.4 percent. Consequently,inflation-adjusted (real) airfares,measured by passenger yield,declined 0.6 percent. Air travelerscontinue to benefit from theintense competition unleashedby economic deregulation in1978. Since then, in real terms,domestic airfares have fallen51.7 percent. This tremendousdecline in price is largelyresponsible for the long-term
FAA Projects Unprecedented Growth in Flight Operations Daily Instrument Flight Rules (IFR) Departures (Thousands) General Aviation 1.8% Business Aviation 4.4% Airlines 93.7% Who Uses the ATC System? Government* 5.0% General Aviation 10.8% Business Aviation 15.6% Airlines 68.1% Unknown 0.4% W
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