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Airlines rake in $5.5 billion, most profitable quarter since 2007

Lower fuel costs and steady travel demand continue to boost the nation's airlines, which enjoyed the most profitable quarter since 2007.

Commercial airlines reported net income of $5.5 billion for the three months that ended in June, a 53% increase over the same period last year, according to financial data released Monday by the U.S. Department of Transportation.

That's the highest net income since the carriers collected $5.9 billion in the same period in 2007.

The latest financial data show the industry remains on firm footing after losing billions of dollars in the wake of the 2001 terrorist attacks and the 2008 recession.