Issue Summary

It was United and American’s turn to flaunt dazzling second quarter profit margins, lifted by, one, raging demand; two, much lower fuel costs; and three, frustrating but ultimately yield-enhancing supply-side barriers restraining industry capacity. United matched Delta’s lofty 17% operating margin. American came close at 15%, despite less exposure to thunderingly strong intercontinental markets (transatlantic and transpacific, both).