IATA: All regions except Latin American improve on EBIT level results in 1Q2013

IATA released (Jun-2013) Apr/May-2013 Airlines Financial Monitor with the following financial updates for three months ended 31-Mar-2013:

• Operating profit (loss): USD502 million, compared to a loss of USD279 million in p-c-p;
  
  • North America: USD702 million, +16.2% year-on-year;
  • Asia Pacific: USD1729 million, +53.7%;
  • Europe: (USD2167 million), compared to a loss of USD2263 million in p-c-p;
  • Latin America: USD226 million, -21.3%;
  • Others: USD12 million, compared to a loss of USD32 million in p-c-p;
• Net profit (loss): (USD3006 million), compared to a loss of USD1284 million in p-c-p;
  
  • North America: (USD578 million), compared to a loss of USD385 million in p-c-p;
  • Asia Pacific: USD181 million, -66.7%;
  • Europe: (USD2770 million), compared to a loss of USD1614 million in p-c-p;
  • Latin America: USD185 million, -4.6%;
  • Others: (USD24 million), compared to a loss of USD23 million in p-c-p. [more - original PR]

IATA: "Q1 2013 financial results indicate solid performance at the operating level, compared to a year ago. The sample of 56 airlines shows that although net profits were down on last year, operating profits have improved. Often Q1 shows a loss as it is the low season, but so far there are operating profits of USD0.5 billion. All regions except Latin American were up at the EBIT level compared to the year ago period. Net losses for North American and European airlines include the impacts of restructuring costs - in the US major carriers are reporting net profit improvements excluding reorganization items." Source: Company statement, Jun-2013.