Aubrey Beneshour

2025 wasn't an easy year for airlines, which faced flight cancellations during the government shutdown, a shortage of air traffic controllers, not to mention grumpy, inflation-weary consumers.

And yet, says analyst Richard Aboulafia at Aerodynamic Advisory, It's kind of like the broader economy.

Those profits are coming especially from big spending passengers, both leisure and business.

And here, says Morningstar equity analyst Nicholas Owens, Delta and United are way out in front.

United, in turn, is spending more to make those passengers in the front of the plane happy on supercharged Internet and reclining seats and in-flight catering.

the airlines aren't passing up an opportunity to squeeze more profit out of the back of the plane, the economy seats, either.

Meanwhile, there's one problem facing all airlines, a huge backlog of orders for new planes from Boeing and Airbus, which are struggling with supply chain problems.

And flying older planes, explains aerospace consultant Scott Hamilton with Leham Company, raises airlines' costs for... Fuel and maintenance, and by the way, this is true with American, Southwest.

Delta and United are flying planes that are beginning to approach 30 years in age.

And while the airline business overall looks pretty solid right now, Richard Aboulafia says there are still concerns going forward.

But he says as long as middle and upper income consumers are still ready to spend it up on travel, major airlines will do OK.

I'm Mitchell Hartman for Marketplace.