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

6-Jan-2012 11:15 AM

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:

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.