Total passenger revenue for the major U.S. airlines plunged 18 percent in 2009 compared to 2008, CNNMoney reports.
It was the largest drop in the industry’s history, surpassing the 14 percent decline in 2001.
The Air Transport Association of America attributed the loss to a 6% drop in passenger volume and a 13% decline in the average cost of flying one mile.
Still, ATA President James May said that “anecdotal evidence” suggests revenue will rebound in 2010, despite the possibility of higher fuel prices.
December’s 4 percent drop in revenue marked the 14th consecutive month of declining sales.
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