European airlines’ losses put at $1.1bn

Global airlines were flying into increasing turbulence in 2012 with losses at European carriers set to be nearly twice as big as expected and China’s economic slowdown adding to the headwinds.

The International Air Transport Association forecast on the 12 June 2012 that European airlines would report a combined net loss of $1.1bn in 2012, up from its previous estimate of a $600m loss, as the eurozone crisis took a deepening toll on carriers.

BBC News, 11.6.12: Iata almost doubles loss forecast for European airlines http://www.bbc.co.uk/news/business-18391523

IATA: Press Release, No.23, 2012: Big Downside Risks on Weak Profitability-European Losses Deepen http://www.iata.org/pressroom/pr/Pages/2012-06-11-02.aspx

Deutsche Welle, 11.6.12: European airlines headed for huge annual losses http://www.dw.de/dw/article/0,,16013655,00.html

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