European airlines head for bigger losses

Europe’s airlines were set to record a bigger than expected $1.2bn net loss in 2012, partly because the number of passengers travelling in first or business class is declining, the industry’s trade body the International Air Transport Association said on the 2 October 2012.

Iata warned that Europe’s airlines were still suffering from the effects of the eurozone sovereign debt crisis and it increased their expected net loss in 2012 from $1.1bn to $1.2bn.

IATA: Press Release, No.40, 2012: Improved Performance Cushions Fall in Profits - Margins and Profits Remain Weak http://www.iata.org/pressroom/pr/Pages/2012-10-01-01.aspx

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