Flights in America uncomfortable for fliers, cushy for airline investors

A jet lands at Los Angeles International Airport (LAX) on Thanksgiving eve, traditionally the busiest travel day of the year, November 22, 2006 in Los Angeles, California. The American Automobile Association (AAA) estimated 38.3 million people will travel 50 miles or more for Thanksgiving, and that 4.8 million travelers will fly to their Thanksgiving destinations.

U.S. airlines rank no where near the top for service and comfort in the 2014 World Airline Awards. Yet they're now the most profitable in the world.

While we're at the height of the summer travel season, things are turning out great for the airlines. The problem is that it's more of a bumpy ride for passengers.

In the 2014 World Airline Awards -- think the Oscars for the airline industry -- Cathay Pacific was rated best airline by fliers. But you have to scroll all the way down to number 46 in the rankings before you find the first U.S.-based carrier: Virgin America.

Meanwhile, although they had a turbulent financial time several years ago, U.S. airlines are now the most profitable in the world.

Barbara Peterson, senior aviation correspondent for Conde Nast Traveler, talks about whether carriers in America have mastered the art of cutting back, but not passing those savings onto their customers.