There may be new hope for the perpetually ailing airline industry. While I wouldn't expect these companies to become top performers anytime soon, it looks like the best revenue stream is the one nobody's been talking about: change and cancellation fees.

These penalties, which can reach up to $150, bring $2 billion in revenue into the industry annually. According to the Department of Transportation, they were good for $527.6 million in the first quarter -- in the United States alone. This is 3.2% of U.S. airline revenue.

American Airlines parent AMR (NYSE: AMR) raked in $116 million in revenue from these penalties in the first quarter of 2009 -- compared to $108 million from the more highly publicized extra bag fees. For JetBlue (NASDAQ: JBLU), the numbers are smaller (JetBlue, of course, isn't as big as AMR) but no less compelling. By pumping its change and cancellation fee from $100 to $150, the airline scored $32.2 million in Q1 2009, up from $25 million in Q1 2008.

In what might prove to be great news for General Motors Corp. (NYSE: GM) and Ford Motor Co. (NYSE: F), the airline industry continues to foul its own nest by treating customers like egg-laying hens, penning them up until they've been squeezed dry, then plucking them clean.

Northworst, I mean, Northwest Airlines Corp. (NYSE: NWA) is the current worst-in-class, as its 'passengers' have been caught in the middle of a labor dispute between pilots and the airline, facing canceled flight after canceled flight. However, Northwest is just one of many culprits in this effort to convince the American public to take a car vacation.

US Airways (NYSE: LCC), aka 'Air Mañana,' was the perpetrator of six of the ten most delayed fights in April. We all remember the JetBlue (NASDAQ: JBLU) debacle this winter, and NPR's Scott Simon has documented his ongoing problems with United Airline's (NASDAQ: UAUA) unresponsive lost luggage department.

Even with airlines padding their flight times to increase on-time arrivals, almost one in every four is delayed. And while the industry continues to use weather as the whipping boy, according to FAA statistics it accounts for less than 1% of delays.

As we enter the vacation season, I would have expected the airline industry to put its best foot forward. Instead, it seems to be dropping its collective drawers to moon us. My advice? Drive. Yes, you'll be cooped up in a small chair, but you can get up to pee any time you wish.

Flight delay info can be found on the FAA website.