Airlines Financial Monitor - July 2011

Released 3 August 2011

Key points from our full report on
airline financial performance in June-July:

Financial markets have now marked airlines share prices down 15% this year on economic concerns;
Early results for Q2 airline profits are showing the first year-on-year decline for eight quarters;
Jet fuel prices rebound above $130 a barrel, as supply concerns offset worries about economic outlook;
Air travel volumes trending upwards at 4-5% annual pace, so far, but air freight markets have stagnated;
Capacity has outpaced demand so passenger load factors are down 1% on the 2010 peak, freight by 4%;
Passenger yields have not recovered pre-recession levels, outside US, and gains are now slowing;
Start of Q3 challenged by economic worries, softer utilization rates and squeeze on margins from fuel.

- IATA Economics -

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