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4-Nov-2009 11:03 AM

IATA: generally profitable 3Q2009 peak season

IATA reports (03-Nov-2009) the following airline* financial updates for the three months ended 30-Sep-2009:

  • Operating profit (loss): USD1,860 million, +741.6% year-on-year;
    • North America: USD619 million, compared to a loss of USD262 million in the previous corresponding period;
    • Europe: USD638 million, +4.9%;
    • Asia Pacific: USD508 million, compared to a loss of USD317 million in the previous corresponding period;
    • Latin America: USD92 million, -46.2%;
    • Other: USD2 million, -90.5%;
  • Net profit (loss): USD392 million, compared to a loss of USD1,527 million in the previous corresponding period;
    • North America: (USD405 million), compared to a loss of USD1,139 million in the previous corresponding period;
    • Europe: USD756 million, +47.1%;
    • Asia Pacific: (USD23 million), compared to a loss of USD995 million in the previous corresponding period;
    • Latin America: USD52 million, -37.3%;
    • Other: USD11 million, +10.0%. [more]

*UPS net profit is estimated, China Eastern Airlines and Jet Airways operating profit not included. Kenya Airways half year results not included.

IATA: "Results for 3Q are only out for a handful of airlines, outside the US, but early indications show an improvement in financial performance. The 24 airlines reporting 3Q results turned a USD1.5 billion loss in the same quarter last year, into a USD0.4 billion profit. However, 3Q, like 2Q, benefits from seasonally strong traffic. Given that the industry lost more than USD6 billion in 1H, and 4Q is usually loss making, these numbers are consistent with IATA's forecast for 2009 losses of USD11 billion," Company statement. Source: IATA, 03-Nov-2009.

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