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IATA: Airline EBIT improved in 2Q2012

4-Sep-2012 11:32 AM

IATA released (03-Sep-2012) Jul-Aug-2012 Airlines Financial Monitor with the following financial updates for the world’s airlines for three months ended 30-Jun-2012:

  • Operating profit: USD6911 million, -0.2% year-on-year;
  • Net profit (loss): USD93 million, -96.8%;
    • North America*: USD1493 million, -15.3%;
    • Asia Pacific: USD328 million, -70.8%;
    • Europe: (USD1011 million), compared to a profit of USD147 million in p-c-p;
    • Latin America: (USD741 million), compared to a loss of USD79 million in p-c-p;
    • Others: USD24 million, compared to a loss of USD23 million in p-c-p. [more - original PR]

*Excludes AMR reorganisation items, totalling USD1.4billion

IATA: “Share price losses in August reflected investor perceptions of the difficulties ahead for airlines, rather than reported performance in Q2. In fact airlines did rather well. Although net profits were down on last year, at little better than break-even, operating profits were close to last year’s Q2 outturn. Performance was down in Europe but up in both North America and Asia-Pacific at an EBIT level. However, fuel prices have since rebounded from Q2 lows.” Source: Company statement, 03-Sep-2012.