IATA: European and North American carriers report improved financials in 2Q2013

IATA released (07-Oct-2013) Aug/Sep-2013 Airlines Financial Monitor, with the following financial updates for three months ended 30-Jun-2013:

• Operating profit: USD5223 million, +1.6% year-on-year;
• • North America: USD2846 million, +10.9%;
  • Asia Pacific: USD590 million, -61.9%;
  • Europe: 1585 million, +86.5%;
  • Latin America: USD172 million, +49.6%;
  • Others: USD30 million, -53.8%;
• Net profit (loss): USD1896 million, compared to a loss of USD529 million in o-c-p;
• • North America: USD1699 million, +119%;
  • Asia Pacific: (USD472 million), compared to a profit of USD192 million in p-c-p;
  • Europe: USD647 million, compared to a loss of USD730 million in p-c-p;
  • Latin America: (USD13 million), compared to a loss of USD791 million in p-c-p;
  • Others: USD35 million, +45.8%. [more - original PR]

IATA: "Q2 2013 financial results show solid performance for the industry overall. The sample of 80 airlines shows improvement on a year ago, both at the operating and net profit level. The most significant improvement occurred in North America, where airlines are seeing the benefits of structural changes and consolidation. European airlines have managed to turn year-ago losses into profits in Q2 2013. Asia Pacific, by contrast, saw financial performance decline on a year ago, reflecting the importance of cargo and persisting regional weakness." Source: Company statement, 07-Oct-2013.