US airlines reap record profits while passengers get peanuts

New York

HELPED by falling oil prices, US airlines are reporting record profits, but for many passengers this sudden bonanza has meant little more than extra bags of free peanuts and pretzels.

The four biggest domestic carriers (American Airlines, Southwest Airlines, Delta Air Lines and United Airlines) together earned about US$22 billion in profits last year - a stunning turnaround after a decade of losses, bankruptcies and cutbacks. A big reason for this is the plunging price of jet fuel, which now costs only a third of what it did just two years ago.