This report contains tables and charts on the financial condition of the U.S. major airlines. All data presented in this financial and traffic review are derived from data reported to the U.S. Department of Transportation on Form 41 Schedules by Large Certificated Air Carriers. The data are presented on both a carrier group and an individual carrier basis, but the primary focus is on the individual major carrier and its performance. Data are presented for the most recent quarterly period and the comparable quarter a year earlier and also on a 12-month ended basis as at the end of the five most recent quarters. In addition, data on charges over comparable periods 12-months earlier are presented. A graphic presentation of comparative trends, on a carrier group basis, is made for several unit and overall financial indicators. In the case of merged carriers, data for the carriers involved have been combined and presented under the name of the surviving carrier so that meaningful comparisons could be made for the most recent 18 quarters. Also, carriers can move between groupings (Majors and Nationals) based on the criteria listed below over time. Each report includes 18 quarters of data. In the instance where a carrier falls into both groupings during the 18 quarters, a carrier will appear in both reports. The data from the Majors report and the data from the Nationals report should not be combined without ensuring any duplications are removed. Carrier Group Definitions Majors: Air carriers with annual operating revenues exceeding $1,000,000,000 Nationals: Air carriers with annual operating revenues between $100,000,000 and $1,000,000,000 Large Regionals: Air carriers with operating revenues between $20,000,000 and $99,000,000 Medium Regionals: Carriers with annual operating revenues less than $19,999,999 or that operate only aircraft with 60 seats or less (or 18,000 lbs maximum payload) https://www.transportation.gov/policy/aviation-policy/airline-quarterly-financial-review