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Cost Per ASM
Assesses operating expenses per available seat mile, offering a view into cost management and operational efficiency.After the post‑pandemic decline, unit costs have reaccelerated and in Q1 2026 climbed back toward prior peaks—driven by a large fuel shock, storm disruptions, and seasonal staffing/CBA costs. Management’s $1B of run‑rate savings and stronger premium demand support margins, but the >$4B fuel headwind and recent storm hit have largely offset those gains; near‑term profitability now depends on the forward fuel curve and the effectiveness of fare/capacity discipline to rein in CASM‑ex.
Date | Cost Per ASM |
|---|---|
Jun 30, 2026 | $0.20 |
Mar 31, 2026 | $0.19 |
Dec 31, 2025 | $0.18 |
Sep 30, 2025 | $0.17 |
Jun 30, 2025 | $0.17 |
Mar 31, 2025 | $0.18 |
Dec 31, 2024 | $0.18 |
Sep 30, 2024 | $0.18 |
Jun 30, 2024 | $0.17 |
Mar 31, 2024 | $0.18 |