Figure 3: Passenger Revenue per Enplanement as a Percentage of System Operating Expenses (Excluding Fuel/Labor) per Enplanement,,, First Quarter 2001 - First Quarter 2006,,, ,Low-Cost,Network,14-Carrier Average 1Q 2001,119%,93%,96% 1Q 2002,90%,67%,70% 1Q 2003,115%,64%,71% 1Q 2004,116%,74%,80% 1Q 2005,128%,71%,78% 1Q 2006,145%,79%,89% "Source: Bureau of Transportation Statistics, Form 41 Airline Financial Data and T-100 Market Data.",,, ,,,,,,, ,,,,,, ,,,,,, ,,,,,, ,,,,,, ,,,,,, ,,,,,, ,,,,,, ,,,,,,