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IATA updates industry profits in 2Q2010

5-Oct-2010 10:47 AM

IATA released (04-Oct-2010) its Airlines Financial Monitor for Aug-Sep-2010, which provided the following airline financial updates** for the two months ended 30-Jun-2010:

  • Operating profit: USD7,720 million, compared with a loss of USD285 million in p-c-p;
    • North America: USD3,803 million, +654.6%;
    • Asia Pacific: USD3,516 million, compared with a loss of USD34 million in p-c-p;
    • Europe*: USD205 million, compared with a loss of USD804 million in p-c-p;
    • Latin America: USD163 million, +207.5%;
    • Other: USD33 million, compared with a loss of USD4 million in p-c-p;
  • Net profit: USD4,408 million, compared with a loss of USD620 million in p-c-p;
    • North America: USD1,746 million, compared with a loss of USD508 million in p-c-p;
    • Asia Pacific: USD1,642 million, compared with a profit of USD57 million in p-c-p;
    • Europe*: USD898 million, compared with a loss of USD868 million in p-c-p;
    • Latin America: USD106 million, -84.5%;
    • Other: USD16 million, -5.8%. [more]

*Includes Amadeus asset sales gain of USD1,272 million.
**Excludes 2Q2010 operating results for EVA Air, Vueling and Kuban Airlines and 2Q2009 operating results for SpiceJet

IATA: “With more airlines reporting second quarter results the total is now up to USD4.4 billion, following USD1.9 billion losses in Q1. In Q1 and Q2 net profits were USD5 billion better than the previous year. For seasonal reasons, the third quarter is normally the most profitable for the industry. Allowing for some slowdown of the pace of improvement in Q4 this is consistent with IATA’s revised forecast for a USD8.9 billion profit in 2010, after the USD9.9 billion loss of 2009,” IATA statement. Source: IATA, 04-Oct-2010.