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Passenger Miles
Measures the total distance flown by paying passengers, indicating demand for flights and overall airline capacity utilization.Passenger Miles have recovered to a predictable seasonal pattern with stronger summer peaks and steady year‑over‑year gains, but persistent Q1 softness and recent sequential moderation show demand sensitivity. Management’s decision to keep Q2 capacity flat and trim earlier‑quarter flying — driven by a >$2B jet‑fuel shock and rising nonfuel unit costs — signals a deliberate tradeoff: protect margins and cash flow rather than chase incremental network share, which should cap near‑term passenger‑mile upside even as premium/loyalty mix and unit revenues support profitability.
Date | Passenger Miles |
|---|---|
Jun 30, 2026 | 66.77B |
Mar 31, 2026 | 56.47B |
Dec 31, 2025 | 59.86B |
Sep 30, 2025 | 67.62B |
Jun 30, 2025 | 66.42B |
Mar 31, 2025 | 55.68B |
Dec 31, 2024 | 60.39B |
Sep 30, 2024 | 66.31B |
Jun 30, 2024 | 65.24B |
Mar 31, 2024 | 54.21B |