Impressive PRASM performance for United, Continental, Southwest, JetBlue and US Airways

Southwest Airlines, the star performer in improving its unit revenues in recent months, continued to report double-digit yield growth in May-2010, but was trumped by United Airlines and Continental Airlines, both of which reported 20%+ growth in the month. JetBlue Airways and US Airways also reported double-digit growth in the month. [2098 words]

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This report contains the following subheadings:

• Ninth consecutive month of PRASM growth for Southwest
• Double-digit PRASM increase for JetBlue 
• AirTran seeing “significant” yield trends; cost advantage also exists
• Improving yields part of the Allegiant story
• United Airlines reports largest PRASM improvement in over two years; PRASM up compared to May-2008 levels
• Continental Airlines’ yields improve - best PRASM performance since Dec-2008
• US Airways remains “optimistic” about the “robust” revenue environment
• Delta sees unit revenue momentum in 1Q2010
• American Airlines reports single-digit unit revenue growth in 1Q2010
• ATA reports double digit passenger revenue improvements in Apr-2010; industry recovery “gradually” 
• US network carriers’ occupancy levels higher than their LCC counterparts 
• IATA makes major reversal in 2010 financial forecasts; now expects USD1.9 billion profit for US carriers
• Improved outlook for 2010 after a devastating 2009

This report contains the following charts and tables:

• US airline unit revenue highlights: May-2010
• US airline unit revenue highlights: 1Q2010 
• Southwest PRASM year-on-year increase: Jan-2009 to May-2010
• JetBlue PRASM year-on-year increase: May-2007 to May-2010
• JetBlue PRASM growth 12 month moving average: Apr-2008 to May-2010
• United Airlines PRASM growth (%): Jan-2008 to May-2010
• United Airlines consolidated PRASM developments: 1Q2008 to 4Q2009
• Continental Airlines consolidated PRASM (US cents per ASM): Feb-2008 to May-2010
• US Airways’ RASM and PRASM growth (%): Jan-2009 to May-2010
• ATA yield growth: Feb-2008 to Apr-2010
• ATA yield: 12 months moving average
• US airlines domestic traffic highlights: May-2010
• Select US airline load factor (%) and load factor growth (ppts): May-2010
• North American carriers’ domestic passenger capacity growth (% change year-on-year): May-2010
• IATA global and North American outlook for 2009 and 2010: Previous forecasts (Dec-2009 and Mar-2010) and current forecast (Jun-2010)