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Airlines results improve in 4Q2010 but at a slower pace: IATA

1-Apr-2011 12:22 PM

IATA released (31-Mar-2011) its Airlines Financial Monitor for Mar-2011, which provided the following financial updates for the three months ended 31-Dec-2010:

  • Operating profit: USD5610 million, +3239% year-on-year;
    • North America: USD2278 million, +814.9%;
    • Asia Pacific: USD2541 million, +168.9%;
    • Europe: USD105 million, compared with a loss of USD1478 million in p-c-p;
    • Latin America: USD606 million, +40.3%;
    • Other: USD80 million, +321.1%;
  • Net profit: USD2942 million, compared with a loss of USD189 million in p-c-p;
    • North America: USD370 million, compared with a loss of USD90 million in p-c-p;
    • Asia Pacific: USD1367 million, +334.0%;
    • Europe: USD718 million, compared with a loss of USD927 million in p-c-p;
    • Latin America: USD427 million, -18.4%;
    • Other: USD61 million, compared with a loss of USD11 million in p-c-p. [more]

IATA: “A larger sample of airline reporting 2010Q4 results confirmed earlier indications that the pace of improvement in profits slowed sharply, as rising fuel costs squeezed margins. The improvement of less than USD3 billion in Q4 net post-tax profits compares to a USD9 billion Q3 improvement. However, North American airlines do seem to have kept up the gains in profit, at least at the EBIT level. Improvement has slowed markedly in Asia and Europe,” IATA statement. Source: IATA, 31-Mar-2011.