1-Jun-2012 11:14 AM
IATA: Airlines operating profit halved in 1Q2012
IATA released (31-May-2012) its Apr/May-2012 'Airlines Financial Monitor' with the following global airline financial updates for three months ended 31-Mar-2012:
- Operating profit (loss): USD1260 million, -50.7% year-on-year;
- North America: USD2151 million, +6.9%;
- Asia Pacific: USD718 million, -41.1%;
- Europe: (USD2145 million), compared to a loss of USD1702 million in p-c-p;
- Latin America: USD266 million, -44.2%;
- Middle East: USD270 million, -51.0%;
- Net profit (loss): (USD1530 million), compared to a profit of USD17 million in p-c-p;
- North America*: USD518 million, compared to a loss of USD5 million in p-c-p;
- Asia Pacific: (USD231 million), compared to a profit of USD791 million in p-c-p;
- Europe: (USD1710 million), compared to a loss of USD1680 million in p-c-p;
- Latin America: USD216 million, -38.1%;
- Middle East: USD195 million, -65.3%. [more - original PR]
IATA: "Q1 airline profit results are down significantly on a year ago. The financial results of 55 airlines indicate the industry made a net loss of USD1.5 billion. Q1 is a seasonally weak quarter but nevertheless this is evidence of deterioration." Source: Company statement, 31-May-2012.