As Overbooking Wanes, Airlines Find More Savings

"For airlines, and for passengers who voluntarily accept compensation, overbooking makes perfect sense," says aviation consultant Bob Mann. "But if I am a business traveler who has to be somewhere, and the airline hasn't presolicited volunteers, and they just decide 'well, it's Bob," then I'd be fit to lash out. If you need to be someplace, no amount of compensation is adequate."

From January through September, US Airways (LCC Quote) was the most aggressive major carrier when it came to overbooking. According to Transportation Department figures, it had about 17.9 denied boardings (voluntary and involuntary) per 10,000 passengers. Spokeswoman Michelle Mohr says the airline overbooks because 7% to 8% of its passengers don't show, adding that it "offers refundable fares as an option."

UAL's(UAUA Quote) United had the second-highest rate, with about 17.4 denied boardings per 10,000 passengers.

Meanwhile, JetBlue(JBLU Quote) had the least overbooking, at just 0.04 per 10,000. Hawaiian(HA Quote), AirTran(AAI Quote) and Alaska(ALK Quote) were also below American's rate of 8.1 denied bookings per 10,000 passengers, which was the lowest rate for the six network carriers.