Passenger revenue for U.S. airlines was down 15 percent in October compared with October 2008, despite all of those extra fees being slapped on, and despite lower costs.
The Air Transport Association reported the figures today, indicating that the plight of domestic airlines is not getting better. Something, as I keep saying here, has to give.
The ATA said the October decline was caused "primarily by the 11th consecutive month of ticket price declines." The average domestic yield was down 12.9 percent, and down 14.4 percent on transatlantic flights, where the drop-off in revenue from business-class fares has been profound. Revenues dropped 17.3 percent on Latin American flights and 17.8 percent on transpacific flights.
The trade group CEO James May said that "pressure to generate revenue will remain intense for the forseeable future."