Most large U.S.
airlines in the past week posted single-digit percentage gains in September
traffic, with many reporting passenger revenue growth of low double-digit percentages,
suggesting some health in the business travel market as carriers entered the
shoulder season. Though the seven largest U.S. carriers reported year-over-year
growth in capacity for September, all maintained or built upon load factors
from September 2009.
Dahlman Rose
& Co. aviation analyst Helane Becker in a note on Monday said, "We
have continued to see double-digit unit revenue growth on marginal capacity
growth, with load factors continuing to improve," she said. "Business
travel continues to drive unit revenue growth."
Morgan Stanley
airline analyst William Greene in a research note late last week similarly
pointed to "robust" corporate travel trends, further noting, "September
revenue trends showed signs of stabilization following August sequential
softness."
Continental Airlines saw year-over-year September traffic increase 3.1
percent on 1.4 percent more capacity, lifting its load factor upward by 1.4
percentage points. The carrier reported preliminary revenue per available seat
mile gains of between 19 and 20 percent from September 2009. Merger partner United Airlines, meanwhile, saw
September traffic increase 7.6 percent, with 4.4 percent more capacity and a
2.5 percentage-point gain in load factor. United estimates its passenger
revenue per available seat mile grew between 13.5 and 14.5 percent.
US Airways reported mainline traffic grew 7.5 percent from September 2009 on just
3.8 percent more capacity for the month, helping it to achieve a record 82.1
percent September load factor. US Airways president Scott Kirby said passenger
revenue per available seat mile "increased approximately 12 percent versus
the same period last year while total revenue per available seat mile increased
approximately 13 percent on a year-over-year basis."
Delta Air Lines reported systemwide traffic last month increased 6.5 percent over the
same month in 2009, though the carrier's 6.6 percent increase in capacity
helped keep its load factor flat at 82.5 percent. American Airlines reported a traffic increase of 5.6 percent on 4.8
percent more capacity in September, helping it to post a modest gain in its
load factor, which hit 80.1 percent from 79.4 percent last September.
Southwest Airlines reported a 5.1 percent increase in September
traffic, a 4.7 percent increase in capacity and a 75 percent load factor, up
modestly over its 74.7 percent load factor for September 2009. The carrier
estimates year-over-year preliminary revenue per available seat mile growth of
11 percent last month. JetBlue Airways,
meanwhile, reported traffic grew 14.6 percent in September, with capacity up
10.4 percent and load factor growing 3 percentage points to 80.6 percent.