IATA released (03-Aug-2011) its Jul-2011 Airlines Financial Health Monitor with the following updated financial highlights for 2Q2011:
- Operating profit (loss): USD2329 million, -33% year-on-year;
- Net profit (loss): USD1048 million, -63.7%;
IATA: “Passenger yields have still not recovered to pre-recession levels, outside the US, and gains are slowing. Airline stock prices – sensitive to the cycle – fell further. The Bloomberg global airlines index was down 4% last month, and is down 15% so far this year. Airlines are expected to be hit more than most sectors by the economic slowdown", Source: IATA statement, 03-Aug-2011.