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4-Mar-2010 11:28 AM

IATA updates industry losses in 4Q2009, European carrier losses widen

IATA reports (03-Mar-2010) the following financial updates for reporting airlines for the three months ended 31-Dec-2009:

  • Operating profit (loss): USD351 million, compared to a loss of USD1,214 million in the previous corresponding period;
    • North America: USD610 million, compared to a loss of USD528 million in the previous corresponding period;
    • Europe: (USD928 million), compared to a loss of USD382 million in the previous corresponding period;
    • Asia Pacific: USD370 million, compared to a loss of USD664 million in the previous corresponding period;
    • Latin America: USD262 million, -17.1%;
    • Other: USD37 million, -15.9%;
  • Net profit (loss): (USD186 million), compared to a loss of USD6,913 million in the previous corresponding period;
    • North America: (USD26 million), compared to a loss of USD4,620 million in the previous corresponding period;
    • Europe: (USD596 million), compared to a loss of USD1,407 million in the previous corresponding period;
    • Asia Pacific: USD208 million, compared to a loss of USD1,109 million in the previous corresponding period;
    • Latin America: USD180 million, +15.9%;
    • Other: USD48 million, -11.1%. [more – Financial Health Monitor]

IATA: “There was further improvement in airline financial performance during the fourth quarter of 2009. As expected, due to seasonal travel weakness, there was a net loss. However, that loss was significantly down on the previous year…record load factors have tightened supply-demand conditions and so both passenger fares and cargo rates have been rising since mid-2009. However, the upturn in yields has been much slower than the upturn in travel and air freight volumes,” IATA statement. Source: IATA, 03-Mar-2010.

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