IATA released (06-Sep-2011) its Aug-2011 Airlines Financial Health Monitor which provided the following financial highlights for the three months ended 30-Jun-2011:
- Operating profit (loss): USD3589 million, -30.9% year-on-year;
- Net profit: USD1830 million, -56.3%;
IATA: “The airline industry typically earns 80% of its profits in Q2 and Q3, with seasonal losses in Q1 and a weaker Q4. So far 2011 Q2 net profits have totalled USD1.8 billion, which is almost 60% down on last year. During the first half of the year the industry has broken even, compared with net profits of around USD3 billion during the same period last year. The deterioration in profits is widespread but European airlines improved against a volcanic ash impacted Q2 last year,” IATA statement. Source: IATA, 06-Sep-2011.