Airlines dropped US$1bn a month Jan-June

BTN News
Thursday, 03 September 2009
International airlines lost around US$1 billion a month for the first six months of the year, according to the International Air Transport Association (IATA), roughly double the Association’s predicted figure for the 2009 year, which it made last December.

Airlines even made losses between April and June, when they usually make 50 per cent of their annual profits, IATA said.


However, freight and passenger volumes both rose more than three per cent in July from June, although they remain well below levels seen at the same time last year.


European and Asian airlines did worst, with 16 Asia-Pacific carriers losing US$1.3bn compared with losses of US$958m a year earlier.


Airlines in North America lost less money - $134m against losses of $419m in the second quarter of last year and Latin American and Middle East airlines improved their profits.

Airlines dropped US$1bn a month Jan-June

BTN News
Thursday, 03 September 2009
International airlines lost around US$1 billion a month for the first six months of the year, according to the International Air Transport Association (IATA), roughly double the Association’s predicted figure for the 2009 year, which it made last December.

Airlines even made losses between April and June, when they usually make 50 per cent of their annual profits, IATA said.


However, freight and passenger volumes both rose more than three per cent in July from June, although they remain well below levels seen at the same time last year.


European and Asian airlines did worst, with 16 Asia-Pacific carriers losing US$1.3bn compared with losses of US$958m a year earlier.


Airlines in North America lost less money - $134m against losses of $419m in the second quarter of last year and Latin American and Middle East airlines improved their profits.