Loading
6-Oct-2011 12:11 PM

Asia Pacific airlines profits hit hardest by weak cargo in 2Q2011: IATA

IATA released (05-Oct-2011) its Sep-2011 Airlines Financial Health Monitor, which updates the following financial highlights for the global airline industry in 2Q2011:

  • Operating profit: USD3941 million, -43.3% year-on-year;
  • Net profit (loss): USD2327 million, -37.3%;
    • North America: USD682 million, -46.0%;
    • Asia Pacific: USD648 million, -56.5%;
    • Europe: USD1118 million, +9.4%;
    • Latin America: (USD133 million), compared to a loss of USD104 million in p-c-p;
    • Middle East: USD13 million, -69.8%. [more]

IATA: “Airline profits declined in 2Q2011, with the exception of Europe, for the first time in eight quarters. With a larger sample of airlines now having reported, the picture is clearer. The largest decline, particularly at the EBIT level, has been for the Asia-Pacific airlines, hit hardest by cargo weakness. North American airlines have also seen a significant squeeze on margins. By contrast profits improved for European airlines. Good performance on passenger markets has helped. But also the comparison is with the depressed volcanic-ash-affected 2Q2010,” IATA statement. Source: IATA, 05-Oct-2011.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More