Friday, June 23 2017

 

 





Press Releases

Improved profitability, but margins still pathetic: IATA

The International Air Transport Association (IATA) revised its industry outlook for 2010 to a net profit of US$15.1 billion (up from the US$8.9 billion forecast in September). Similarly, the association revised upwards its projections for 2011 to a net industry profit of US$9.1 billion (up from the US$5.3 billion forecast in September). Net margins remain weak at 2.7% for 2010 and falling to 1.5% in 2011. “Our profit projections increased for both 2010 and 2011 based on an exceptionally strong third quarter performance. But despite higher profit projections, we still see the recovery pausing next year after a strong post-recession rebound,” said IATA director general Giovanni Bisignani. “And the two-speed nature of the recovery is unchanged with European airlines continuing to under-perform other regions.”
Bisignani also characterized the improvements in terms of profit margins, which continue to disappoint. “Margins remain pathetic. With a 2.7% net margin in 2010 shrinking to 1.5% in 2011, we are nowhere near covering our cost of capital. The industry is fragile and balancing on a knife edge. Any shock could stunt the recovery, as we are seeing with the results of new or increased taxation on airlines and travellers in Europe,” he said. Looking ahead, Bisignani added, “The recovery cycle will pause in 2011. Although the US$9.1 billion profit projection for 2011 is better than we had previously forecast, next year the industry will face tougher conditions than what we are experiencing today.”


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