Yield and unit revenue rose faster at AA than at UA or DL.
http://phoenix.corporate-ir.net/phoenix.zhtml?c=117098&p=irol-newsarticle&ID=2289845
http://phoenix.corporate-ir.net/phoenix.zhtml?c=117098&p=irol-newsarticle&ID=2289845
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off the top of my head, it was dl. their margins (18+%) are the envy of the other legacy carriers. the obvious is their labor costs, i believe only one work group is unionized. in relation to ua+co with roughly the same amount of time post-mergers, they blow them away. in relation to aa+us, give aa the same amount of time post merger to see if aa's post-merger synergies & margins can equal/approach dl+nw margins.
dl seems to have found the right balance of keeping it's employees happy/content and not having to deal with unions. an example is just this past quarter, 2q17. dl set aside $338 million for it's employee profit sharing program...an amount aa won't get near for all of 2017. aa's profit sharing program is paltry and was reactionary to the complaints of it's employees...it also came on the heels of aa giving very generous bonuses (17%) to level 5 and above managers. it was as if aa sheepishly said, "here's a tiny bit of money for you..stop whining".
anyways, good on delta and good for their employees. even more of a stick the aa union negotiators can hit aa with.
as far as margins and the other non-legacy carriers, southwest is the winner. remember, they only have one type of equipment, which saves big money on crews, maintenance, parts...etc..etc. if 2 or 3 737s go down in a week and the faa grounds 737s, southwest has a big problem.
as far as your second question, are you talking about $$? if so, it's aa, by far. aa has $9.3 billion in liquidity..$7 billion of that is cash in it's pocket right now.
off the top of my head, it was dl. their margins (18+%) are the envy of the other legacy carriers. the obvious is their labor costs, i believe only one work group is unionized. in relation to ua+co with roughly the same amount of time post-mergers, they blow them away. in relation to aa+us, give aa the same amount of time post merger to see if aa's post-merger synergies & margins can equal/approach dl+nw margins.