Thursday, October 30, 2025

The six major U.S. airlines have now all filed their Q3 2025 earnings releases, so we wanted to give everyone an update on their performance courtesy of our airlines industry earnings template.

The template, available to Calcbench subscribers on DropBox, tracks numerous airline-industry performance metrics — everything from revenue per available seat mile (RASM) to passenger revenue, load factor, average fuel cost, and more.


We track six U.S. airlines:


  • Alaska Airlines ($ALK)

  • American Airlines ($AAL)

  • Delta Air Lines ($DAL)

  • Jet Blue ($JBLU)

  • Southwest Air ($LUV)

  • United Airlines ($UAL)


Figure 1, below, tracks their quarterly EPS (along the bottom) and quarterly RASM (along the top). 



Or for those of you who prefer to consume your financial data in table format, here’s the RASM data for the last five quarters in Figure 2, below.



Why did we include Q4 with a row of “N/A”? To remind you that our earnings templates automatically capture the latest data as firms file! So when the airlines start filing Q4 data in three months’ time, that information will be whisked from the filings to the templates within minutes, ready for your analysis.


Two caveats. First, for the template to populate updates automatically, you must be a premium-level Calcbench subscriber. If you want a Premium subscription or aren’t sure whether the subscription you have qualifies, email us at us@calcbench.com and we’ll get you squared away. 


Second, you must have the Calcbench Excel Add-in installed and running. 


Once you have those items done, the template will run automatically. Onward and upward!
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