That would be only $49 in revenue per trip, seems low.
When you put it in those terms it seems almost insane. How can any company operate on such low margins? I mean, yes, the "Walmart model" is the answer, but it seems like they could go under very easily if hit by something unexpected.
> it seems like they could go under very easily if hit by something unexpected
There's an old joke about this: How do you make a million dollars in the airline business? Well, you start with a billion dollars...
I have no idea how airline accounting works, but if these numbers are correct, you'd have to assume quite a bit of money collected is not counted as revenue and is going to cover direct costs like taxes.