IATA: Global airline profits improve in 2Q2012, European airlines report 'substantial deterioration'
IATA released (03-Oct-2012) Aug/Sep-2012 Airline Financial Health Monitor with the following financial updates for the global airline industry for three months ended 30-Jun-2012:
- Operating profit (loss): USD7417 million, +5.6% year-on-year;
- Net profit (loss): USD408 million, -86.2%;
- North America: USD1808 million, +1.4%;
- Asia Pacific: USD328 million, -70.8%;
- Europe: (USD1011 million), compared to a profit of USD147 million in p-c-p;
- Latin America: (USD741 million), compared to a loss of USD79 million in p-c-p;
- Others: USD24 million, compared t a loss of USD23 million in p-c-p. [more – original PR]
IATA: “A larger sample of airline Q2 results confirms the earlier picture of a relatively good financial performance, particularly in North America where both operating and net profits were higher than last year. Asia-Pacific and Latin American airlines also improved operating profits but saw a deterioration below the line. European airlines stood out with a substantial deterioration of their performance, reflecting very weak home markets, due to the Eurozone crisis.” Source: Company statement, 03-Oct-2012.