Report shows second-quarter profits for U.S. airlines

The Bureau of Transportation Statistics (BTS), a branch of the U.S. Department of Transportation, released a report Monday showing the financial data of airlines for the second quarter of 2015.

According to the report, U.S. scheduled passenger airlines had an after-tax net profit of $5.5 billion for the second quarter of 2015, an increase from the $3.1 billion after-tax net profit reported for first quarter of 2015. It also was a significant increase from the after-tax net profit for second quarter of 2014, which amounted to $3.6 billion.

All 26 of the U.S. scheduled-service passenger airlines reported their after-tax net profit as a group. This is the ninth quarter in a row that the airlines have made this decision.

Additionally, the scheduled service passenger airlines said that they had an $8.2 billion pretax operating profit for the second quarter of 2015. This is an increase from the $5.1 billion in the first quarter of 2015 and an increase from $5.5 billion in the second quarter of 2014.

Operating profit or loss and net income are measured by two different airline financial performance reports. Operating profit or loss is determined by calculating expenses and operating revenues before nonrecurring items and taxes. Net income or loss may also involve nonrecurring items, nonoperating income and expenses or income taxes.