European Financial Crisis Set To Drag Down Airline Profits | Aviation International News

European Financial Crisis Set To Drag Down Airline Profits

IATA's 2012 profits forecast sees airline margins dipping

Next year appears likely to present harsh trading conditions for Greece's Aegean Airlines among many other European carriers.

By Charles Alcock • Managing Editor

December 12, 2011

Airlines appear headed for another bumpy ride in 2012, according to the International Air Transport Association (IATA), which last week slashed $1.4 billion from its forecast profits for member carriers. At an estimated $3.5 billion, airline profits next year would account for a net margin of just 0.6 percent—compared with an anticipated 2011 net margin of 1.2 percent on total profits of $6.9 billion.

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