8-Mar-2011 11:17 AM
European airlines remain in the red in 4Q2010
IATA released (07-Mar-2011) its Airlines Financial Monitor for Feb-2011 which provided the following updated financial highlights for the global airline industry for the three months ended 31-Dec-2010*:
- Operating profit: USD4988 million, +166% year-on-year;
- North America: USD2290 million, -440%;
- Asia Pacific: USD1995 million, +80.4%;
- Europe: USD187 million, compared with a loss of USD30 million in p-c-p;
- Latin America: USD475 million, +40.9%;
- Other: USD41 million, +7.9%;
- Net profit (loss): USD696 million, compared with a loss of USD320 million in p-c-p;
- North America: USD87 million, compared with a loss of USD263 million in p-c-p;
- Asia Pacific: USD975 million, +232%;
- Europe: (USD745 million), compared with a loss of USD808 million in p-c-p;
- Latin America: USD353 million, -20.0%;
- Other: USD27 million, +68.8%. [more]
* 4Q2010 operating results does not include Iberia, Jazeera Airways, Royal Jordanian and Ryanair
IATA: "The improvement of airline profits slowed in Q4 of last year. The USD3 billion improvement at the net post-tax level (even less for EBIT), reported by the 46 airlines in our sample, compares to a USD9 billion improvement in Q3," IATA statement. Source: IATA, 07-Mar-2011.