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IATA forecasts airlines to lose USD5.6 billion in 2010

16-Dec-2009 11:38 AM

IATA announced (15-Dec-2009) the following global financial forecasts:

  • 2009:
    • Net profit/loss:
      • Global: (USD11 billion);
      • North America: (USD2.9 billion);
      • Europe: (USD3.5 billion);
      • Asia-Pacific: (USD3.4 billion);
      • Latin American: USD100 million;
      • Middle East: (USD1.2 billion);
      • Africa: (USD100 million);
  • 2010:
    • Operating profit/loss:
      • Global: USD4.0 billion;
      • North America: USD1.2 billion;
      • Europe: USD 600 million;
      • Asia-Pacific: USD2.1 billion;
      • Latin America: USD300 million;
      • Middle East: (USD100 million);
      • Africa: (USD100 million);
    • Net profit/loss:
      • Global: (USD5.6 billion);
      • North America: (USD2.0 billion);
      • Europe: (USD2.5 billion);
      • Asia-Pacific: (USD700 million);
      • Latin America: USD100 million;
      • Middle East: (USD300 million);
      • Africa: (USD100 million). [more – Full speech & presentation]

IATA: “The world’s airlines will lose USD11.0 billion in 2009. We are ending an Annus Horribilis that brings to a close the 10 challenging years of an aviation Decennis Horribilis. Between 2000 and 2009, airlines lost USD49.1 billion, which is an average of USD5.0 billion per year. The worst is likely behind us. For 2010, some key statistics are moving in the right direction. Demand will likely continue to improve and airlines are expected to drive down non-fuel unit costs by 1.3%. But fuel costs are rising and yields are a continuing disaster. Airlines will remain firmly in the red in 2010 with USD5.6 billion in losses,” Giovanni Bisignani, Director General and CEO. Source: IATA, 15-Dec-2009.