The airlines have always had a hard time making a profit. Plenty of airlines have gone bankrupt over the years, feel free to google “bankrupt + airlines” — there is no shortage of results. According to MSNBC.com, “In the United States alone, the Air Transport Association records at least 100 airline bankruptcies since deregulation in 1978.”

So what will the fall out be after the drop some airlines witnessed in 2009? According to the International Air Transport Association, both international passenger demand and freight has dropped off. We’ve already seen Japan Airlines fall into bankruptcy this month and American Airlines, a partner of Japan Airlines, lost money in the fourth quarter as well. One of the causes of the drop off in international passenger demand appears to be a mixture of business travelers staying home as well as vacation travelers. 

 Even with less passengers, some airlines have been able to do well. Southwest Airlines saw a profit in 2009. Thanks to the airlines “bags fly free” campaign, it has increased its market share by 1 percent and now serves more passengers than any other U.S. airline. They have even added service to four new airports and given their employees raises.

Other airlines that reported profits include Airtran and Continental.