Airline profits hold up in 3Q2011, outlook negative: IATA

IATA released (05-Jan-2012) its Dec-2011 Airlines Financial Health Monitor which provided the following updated airline financial highlights for the three months ended 30-Sep-2011:

• Operating profit: USD11,958 million, -10.5% year-on-year;
  • North America: USD3182 million, +18.3%;
  • Asia Pacific: 3487 million, -19.9%;
  • Europe: USD4449 million, -5.4%;
  • Latin America: USD518 million, +1.0%;
  • Middle East: USD311 million, -71.1%;
  • Africa: USD11 million, -63.3%;
• Net profit (loss): USD4998 million, -48.6%;
  • North America: USD898 million, -53.8%;
  • Asia Pacific: USD1596 million, -54.3%;
  • Europe: USD2744 million, -4.3%;
  • Latin America: (USD553 million), compared to a profit of USD343 million in p-c-p;
  • Middle East: USD292 million, -72.2%;
  • Africa: USD21 million, +16.7%. [more - original PR] [more - CAPA analysis on passenger traffic outlook] [more - CAPA analysis on freight outlook]

IATA: "Although profits have declined over the year, airlines have done quite well in Q3, with a sample of 61 carriers reporting USD5 billion in net profits. While operating profits were down over the year, the decline was contained to 20%. Regions such as Europe, with weak economic performance, limited their Q3 profit contraction to 5%, year-on-year. Nevertheless, the results are backward looking, and markets are still indicating a negative outlook for airlines." IATA statement. Source: IATA, 05-Jan-2012.