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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Total operating revenues | | | | | | | | 6,416.0 |
Passenger | | | | | | | | 5,893.0 |
Other | | | | | | | | 523.0 |
Total revenues [+] | 9,158.0 | 6,037.0 | 2,957.0 | 8,094.0 | 7,658.0 | 7,012.0 | 6,584.0 | 12,832.0 |
Services | | | | | | | | 6,416.0 |
Passenger | | | | | | | | 5,893.0 |
Other | | | | | | | | 523.0 |
Revenue growth [+] | 51.7% | 104.2% | -63.5% | 5.7% | 9.2% | 6.5% | -48.7% | 10.3% |
Total operating revenues | | | | | | | | 10.3% |
Passenger | | | | | | | | 10.3% |
Cost of goods sold [+] | 7,101.0 | 5,147.0 | 3,547.0 | 6,465.0 | 6,194.0 | 5,344.0 | 4,668.0 | 4,591.0 |
Labor costs | 2,747.0 | 2,358.0 | 2,032.0 | 2,320.0 | 2,044.0 | 1,887.0 | 1,698.0 | 1,540.0 |
Fuel costs | 3,105.0 | 1,436.0 | 631.0 | 1,847.0 | 1,899.0 | 1,363.0 | 1,074.0 | 1,348.0 |
Lease costs | 658.0 | 727.0 | 443.0 | 573.0 | 566.0 | 540.0 | 467.0 | 464.0 |
Aircraft maintenance, materials and repairs | 591.0 | 626.0 | 441.0 | 619.0 | 625.0 | 622.0 | 563.0 | 490.0 |
Aircraft rental | 114.0 | 99.0 | 85.0 | 99.0 | 104.0 | 102.0 | 110.0 | 122.0 |
Landing fees and other rentals | 544.0 | 628.0 | 358.0 | 474.0 | 462.0 | 438.0 | 357.0 | 342.0 |
Other direct costs | | | | 1,106.0 | 1,060.0 | 932.0 | 866.0 | 749.0 |
Gross profit | 2,057.0 | 890.0 | -590.0 | 1,629.0 | 1,464.0 | 1,668.0 | 1,916.0 | 8,241.0 |
Gross margin | 22.5% | 14.7% | -20.0% | 20.1% | 19.1% | 23.8% | 29.1% | 64.2% |
Selling, general and administrative [+] | 289.0 | 183.0 | 110.0 | 290.0 | 294.0 | 271.0 | 263.0 | 264.0 |
Sales and marketing | 289.0 | 183.0 | 110.0 | 290.0 | 294.0 | 271.0 | 263.0 | 264.0 |
Other operating expenses | 1,594.0 | -586.0 | 196.0 | 28.0 | 870.0 | | | 6,416.0 |
EBITDA [+] | 174.0 | 1,293.0 | -896.0 | 1,311.0 | 300.0 | 1,397.0 | 1,653.0 | 1,561.0 |
EBITDA growth | -86.5% | -244.3% | -168.3% | 337.0% | -78.5% | -15.5% | 5.9% | 85.8% |
EBITDA margin | 1.9% | 21.4% | -30.3% | 16.2% | 3.9% | 19.9% | 25.1% | 12.2% |
Depreciation | 585.0 | 540.0 | 535.0 | 525.0 | 469.0 | 383.0 | 337.0 | 288.0 |
EBITA | -411.0 | 753.0 | -1,431.0 | 786.0 | -169.0 | 1,014.0 | 1,316.0 | 1,273.0 |
EBITA margin | -4.5% | 12.5% | -48.4% | 9.7% | -2.2% | 14.5% | 20.0% | 9.9% |
Amortization of intangibles | | | | | | 41.0 | 56.0 | 57.0 |
EBIT [+] | -411.0 | 753.0 | -1,431.0 | 786.0 | -169.0 | 973.0 | 1,260.0 | 1,216.0 |
EBIT growth | -154.6% | -152.6% | -282.1% | -565.1% | -117.4% | -22.8% | 3.6% | 136.1% |
EBIT margin | -4.5% | 12.5% | -48.4% | 9.7% | -2.2% | 13.9% | 19.1% | 9.5% |
Non-recurring items [+] | -113.0 | 833.0 | 283.0 | -14.0 | -435.0 | | | |
Unusual expense | -113.0 | 833.0 | 283.0 | -14.0 | -435.0 | | | |
Interest expense, net [+] | 124.0 | 180.0 | 139.0 | 62.0 | 59.0 | 60.0 | 53.0 | 67.0 |
Interest expense | 124.0 | 180.0 | 139.0 | 62.0 | 59.0 | 60.0 | 53.0 | 68.0 |
Interest income | | | | | | | | 1.0 |
Other income (expense), net [+] | -15.0 | -3.0 | -40.0 | 30.0 | 12.0 | 5.0 | -43.0 | -52.0 |
Other | -3.0 | -55.0 | -23.0 | | | | | |
Pre-tax income | -437.0 | -263.0 | -1,893.0 | 768.0 | 219.0 | 918.0 | 1,164.0 | 1,097.0 |
Income taxes | -75.0 | -81.0 | -539.0 | 199.0 | 30.0 | -222.0 | 437.0 | 420.0 |
Tax rate | 17.2% | 30.8% | 28.5% | 25.9% | 13.7% | | 37.5% | 38.3% |
Net income | -362.0 | -182.0 | -1,354.0 | 569.0 | 189.0 | 1,140.0 | 727.0 | 677.0 |
Net margin | -4.0% | -3.0% | -45.8% | 7.0% | 2.5% | 16.3% | 11.0% | 5.3% |
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Basic EPS [+] | ($1.12) | ($0.57) | ($4.88) | $1.92 | $0.60 | $3.47 | $2.23 | $2.15 |
Growth | 95.5% | -88.3% | -354.3% | 217.6% | -82.6% | 55.8% | 3.6% | 57.9% |
Diluted EPS [+] | ($1.12) | ($0.57) | ($4.88) | $1.91 | $0.60 | $3.45 | $2.12 | $1.96 |
Growth | 95.5% | -88.3% | -355.9% | 217.3% | -82.6% | 62.4% | 8.2% | 68.1% |
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Shares outstanding (basic) [+] | 323.6 | 318.0 | 277.5 | 296.6 | 312.9 | 328.7 | 326.5 | 315.1 |
Growth | 1.8% | 14.6% | -6.4% | -5.2% | -4.8% | 0.7% | 3.6% | 6.9% |
Shares outstanding (diluted) [+] | 323.6 | 318.0 | 277.5 | 298.4 | 314.5 | 330.4 | 342.2 | 344.8 |
Growth | 1.8% | 14.6% | -7.0% | -5.1% | -4.8% | -3.4% | -0.8% | 0.4% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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