Commercial Aviation: Airline Industry Contraction Due to Volatile Fuel Prices and Falling Demand Affects Airports, Passengers, and Federal Government Revenues

摘要

The U.S. passenger airline industry is vital to the U.S. economy. Airlines directly generate billions of dollars in revenues each year and catalyze economic growth. Interest in the airlines' ability to weather volatile fuel prices and the economic recession led to congressional requests for a GAO review. GAO examined how (1) the financial condition of the U.S. passenger airline industry has changed, the principal factors affecting its condition, and its prospects for 2009; (2) airlines have responded to the factors affecting their financial condition; and (3) changes in the industry have affected airports, passengers, and the Airport and Airway Trust Fund (Trust Fund), which funds the Federal Aviation Administration's (FAA) capital programs and most of its operations. To do this, GAO analyzed financial and operating data, reviewed studies, and interviewed airline, airport, and FAA officials and other experts. The Department of Transportation (DOT) provided technical comments, which were incorporated as appropriate. After 2 years of profits, the U.S. passenger airline industry lost $4.3 billion in the first 3 quarters of 2008--the most currently available financial data--largely due to volatile fuel prices.