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IATA: Airline profits down in 1Q2012, European airlines losses widen

5-Jul-2012 11:41 AM

IATA released (04-Jul-2012) its May/Jun-2012 Airlines Financial Health Monitor with the following update on global airline financials for the three months ended 31-Mar-2012:

  • Operating profit (loss): USD1260 million, -50.7% year-on-year;
  • Net profit (loss): (USD1012 million), compared to a profit of USD17 million in p-c-p;
    • North America: USD518 million*, compared to a loss of USD5 million in p-c-p;
    • Asia Pacific: (USD231 million), compared to a profit of USD791 million in p-c-p;
    • Europe: (USD1710 million), compared to a loss of USD1680 million in p-c-p;
    • Latin America: USD216 million, -38.1%;
    • Middle East: USD195 million, -65.3%. [more – original PR]

*Excludes AMR reorganisation items totalling USD1.4 billion

IATA: “Q1 airline profit fell significantly compared to a year ago. Although the industry struggled, with 55 airlines indicating a combined net loss of USD1.0 billion, North American airlines performed strongly. Airlines in the region have been able to maintain high load factors throughout the year, and as a result managed to improve their profit position significantly on a year ago. European airlines, conversely, are experiencing even larger losses than in Q1 2011.” Source: Company statement, 04-Jul-2012.