4-Aug-2011 11:18 AM

Early 2Q2011 results show first year-on-year fall in airline profits in eight quarters: IATA

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%;
    • North America: USD608 million, -57.3%;
    • Asia Pacific: (USD62 million), compared with a profit of USD322 million in p-c-p;
    • Europe: USD487 million, -54.9%;
    • Latin America: USD16 million, -73.8%. [more]

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.