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IATA updates airline losses estimate for 2Q2009

2-Oct-2009 11:20 AM

IATA reports (01-Oct-2009) the following airline* financial updates for the three months ended 30-Jun-2009:

  • Operating profit (loss): (USD495 million) compared to a profit of USD2,444 million in the previous corresponding period;
    • North America: USD1,129 million, +86.3%;
    • Europe: (USD707 million), compared to a profit of USD4,464 million in the previous corresponding period;
    • Asia Pacific: (USD938 million), compared to a profit of USD445 million in the previous corresponding period;
    • Latin America: USD31 million, compared to a loss of USD73 million in the previous corresponding period;
    • Middle East: (USD11 million), compared to a profit of USD2 million in the previous corresponding period;
  • Net profit (loss): (USD2,287 million), compared to a loss of USD733 million in the previous corresponding period;
    • North America: (USD316 million), compared to a loss of USD215 million in the previous corresponding period;
    • Europe: (USD1,122 million), compared to a profit of USD489 million in the previous corresponding period;
    • Asia Pacific: (USD1,354 million), compared to a loss of USD1,019 million in the previous corresponding period;
    • Latin America: USD485 million, compared to a profit of USD5 million in the previous corresponding period;
    • Middle East: USD20 million, compared to a profit of USD7 million in the previous corresponding period. [more]
  • *Excludes operating profits for Alitalia, Eva Airways, SpiceJet and Shandong Airlines and Hainan Airlines’ net profit

IATA: “Losses for the airlines industry as a whole got worse in the second quarter, with 68 major airlines reporting net losses of USD2.3 billion, following USD4 billion in Q1. EU and Asian airlines had the worst H1 accounting for around USD5 billion of industry losses; US losses were moderated by much larger capacity cuts. Q3 results start to be released this month. Traffic volumes and load factors were improving during the quarter but yields remained weak and oil prices rose USD10/barrel from Q2," IATA statement. Source: IATA, 01-Oct-2009.