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;
  • 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.