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Southeast Asian airlines: improved profitability in 3Q2015, 9M2015 but over half remain unprofitable

Analysis

Southeast Asia's airline sector continues to struggle and underperform compared to other regions despite some improvement in market conditions. Among a sampling of 20 publicly traded airlines or affiliates from Southeast Asia, 11 were still unprofitable in the three months ending 30-Sep-2015.

Almost all of Southeast Asia's airlines have seen profitability improve over the last year. In the most recent quarter the sector saw a collective improvement of about USD200 million with an operating profit of approximately a USD100 million in 3Q2015 for the sample of 20 airlines compared to about a USD100 million loss for 3Q2014.

The grouping generated operating profits of about USD700 million through the first nine months of 2015 and is on pace to generate an annual profit in 2015 of about USD1 billion. But this represents less than one fifth of the total profit expected from all of Asia Pacific.

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