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Revenue slowing: IATA

6-Jul-2011 11:20 AM

IATA released (05-Jul-2011) its Jun-2011 Airlines Financial Health Monitor with the following updated financial highlights for the first three months of 2011:

  • Operating profit (loss): (USD245 million), compared with a loss of USD782 million in p-c-p;
    • North America: USD19 million, compared with a loss of USD13 million in p-c-p;
    • Asia Pacific: USD997 million, +43.0% year-on-year;
    • Europe: (USD1690 million), compared with a loss of USD1814 million in p-c-p;
    • Latin America: USD440 million, +19.2%;
    • Other: (USD10 million), compared with a loss of USD19 million in p-c-p;
  • Net profit (loss): (USD1802 million), compared with a loss of USD1931 million in p-c-p;
    • North America: (USD953 million), compared with a loss of USD861 million in p-c-p;
    • Asia Pacific: USD600 million, -21.9%;
    • Europe: (USD1720 million), compared with a loss of USD1908 million in p-c-p;
    • Latin America: ISD338 million, +219%;
    • Other: (USD67 million), compared with a loss of USD36 million in p-c-p. [more]

IATA: “Airline profits have already been squeezed by the rise in jet fuel costs and some slippage in asset utilisation. EBITDA in Q1 for major airlines was down 2-5% of revenues on the 3Q2010 peak. The substantial improvements in airline profits seen from 2Q2010 to 4Q have ended. Fuel costs are now considerably higher and revenues are slowing,” IATA statement. Source: IATA, 05-Jul-2011.