IATA: Asia Pacific airlines report strong profits in 2Q2012, Europe the weakest
IATA released (02-Aug-2012) its Jun/Jul-2012 Airlines Financial Monitor with the following financial updates for the global airline industry for three months ended 30-Jun-2012:
- Operating profit: USD6064 million, +28.4% year-on-year;
- North America*: USD4288 million, +11.0%;
- Asia Pacific: USD756 million, +271%;
- Europe: USD777 million, +11.8%;
- Latin America: USD182 million, compared to a loss of USD84 million in p-c-p;
- Middle East: USD61 million, +38.6%;
- Net profit (loss): USD1567 million, -20.7%;
- North America*: USD1821 million, +3.2%;
- Asia Pacific: USD240 million, +353%;
- Europe: (USD535 million), compared to a profit of USD248 million in p-c-p;
- Latin America: Breakeven, compared to a loss of USD141 million in p-c-p;
- Middle East: USD41 million, -21.2%. [more - original PR]
*Excludes AMR reorganisation items, totaling USD1.4 billion
IATA: "The airline industry typically earns a majority of its profits in Q2 and Q3, with seasonal losses expected in Q1 and Q4. Initial results for Q2 show strong performance by Asia-Pacific airlines, but still weaker results for the industry overall compared to Q2 2011. The sample of 42 airlines indicates that industry net profits are more than 20% down in Q2 compared to a year ago. The weakness is coming primarily from Europe, with airlines in the region reporting a three-fold decline in profits in Q2 compared to a year ago." Source: Company statement, 06-Aug-2012.