IATA: 2Q2021 financial results show considerable reduction in losses; further improvement expected

    IATA reported (05-Oct-2021) the following highlights from its Aug/Sep-2021 Airlines Financial Monitor:

    • Airline 2Q2021 financial results confirms aggregated net losses were reduced considerably compared with 1Q2021. Airlines in all regions showed improvement. North American airlines’ net income at the aggregated level became positive amidst a strong rebound in US domestic travel;
      • EBIT margins remained negative in all regions. European airlines were the worst performers among all regions since intra-regional travel was muted ahead of the summer quarter;
    • Financial performance of airline industry is expected to improve further with the loosening of travel restrictions in 2022. Performance will be varied across regions. North America will continue to be the best performer;
    • Brent crude oil and jet fuel prices picked up in Sep-2021 amidst rising optimism about fuel demand recovery. Year-to-date, average jet fuel price is around USD73 per barrel, up 57% compared with 2020 but 8% below the average 2019 price. [more – original PR]
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