Domestic U.S. airline passenger yield in May declined by 16 percent

year over year to 12.71 cents per mile, the largest monthly decline since October 2001. Defined as the "average price someone pays to fly one mile excluding government taxes and fees," domestic yield has now declined for seven consecutive months. Transatlantic yields were down 24 percent, marking the largest monthly decline in at least nine years. Transpacific yields fell 18 percent, the biggest monthly drop since December 2001.