North American carriers report the only profit growth in 4Q2011: IATA
IATA released (01-Mar-2012) its Jan/Feb-2012 financial health monitor, which provided the following global airline financial highlights for three months ended 31-Dec-2011:
- Operating profit: USD4153 million, -35.7% year-on-year;
- Net profit: USD1402 million, -58.6%;
IATA: “Overall downward pressure on profits continues. Compared to Q4 2010 net profits have contracted by 60% for the industry overall. This continues the weakness started in Q4 2010, with slowing demand and high fuel prices keeping profits down. By contrast, North American airline performance has improved more than three-fold from Q4 2010; a result of tight capacity controls.” Source: Company statement, 01-Mar-2012.