I just got this reply from airline financials:
Thanks for your comment.
For a couple of reasons, I I don't calculate BLF's.
1. Cargo and other revenues have a wide variance from airline-to-airline. For any kind of validity, BLF has to reconcile that revenue with passenger revenue.
2. More important is the significant increase in ancillary fees. Some airlines are accounting for these fees in "passenger" revenue and some airlines are using "other" revenue (range of fees is from ~8-30% of operating revenue).
The above being noted: Some airlines do show BLF's in their 10Q & K reports. You can also use my interactive (Excel) models for each airline and make an adjustment to RPM's which will recalculate all of the applicable line items including LF, Net and Operating income etc. to arrive at something close to BLF.
Its looking like the BLF number is a very loose number and can be massaged quite a bit depending on what you put into it.
Thanks to those who responded!!!!