US airlines just had one of the most lucrative quarters in history. Passengers are suffering for it.

The record revenue many airlines reported in April, May and June came via very high airfares and packed airplanes. A series of service disruptions caused by staffing shortages has made flying even worse.

In the second quarter, American Airlines (AAL), United (UAL), Delta (DAL) and Southwest (LUV), which account for 80% of US air travel, earned a combined $2.8 billion. Sales jumped 10% from the same quarter of 2019, before the pandemic, to $46 billion, as demand for leisure travel surged.

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The airlines reported record bookings in June for travel during the rest of the summer. But carriers are flying with fewer seats available than before the pandemic: capacity at the four largest airlines is down about 13% from three years ago.

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That combination of very strong demand and limited availability sent fares soaring.

US airlines just had one of the most lucrative quarters in history. Passengers are suffering for it.

The record revenue many airlines reported in April, May and June came via very high airfares and packed airplanes. A series of service disruptions caused by staffing shortages has made flying even worse.

In the second quarter, American Airlines (AAL), United (UAL), Delta (DAL) and Southwest (LUV), which account for 80% of US air travel, earned a combined $2.8 billion. Sales jumped 10% from the same quarter of 2019, before the pandemic, to $46 billion, as demand for leisure travel surged.

*

The airlines reported record bookings in June for travel during the rest of the summer. But carriers are flying with fewer seats available than before the pandemic: capacity at the four largest airlines is down about 13% from three years ago.

*

That combination of very strong demand and limited availability sent fares soaring.