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Figure 3: Passenger Revenue per Enplanement as a Percentage of System Operating Expenses (Excluding Fuel/Labor) per Enplanement

Second Quarter 2001 - Second Quarter 2006

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  Low-Cost Network 14-Carrier Average
2Q 2001 122% 89% 91%
2Q 2002 109% 86% 89%
2Q 2003 128% 80% 87%
2Q 2004 134% 81% 88%
2Q 2005 135% 86% 92%
2Q 2006 168% 100% 109%

Source: Bureau of Transportation Statistics, Form 41 Airline Financial Data and T-100 Segment Data