Airlines Back In Profit In Q3 But 2009 Losses Loom

Airlines outside Europe crawled back into profit in the third quarter, but the industry remains on track for a net loss of USD$11 billion this year, the International Air Transport Association (IATA) said on Tuesday.

A sample of 75 major airlines reported a combined net profit of USD$0.7 billion in the third quarter compared with a USD$3.4 billion loss in the third quarter of 2008, IATA said in its Airlines Financial Monitor for October-November.

IATA said its previously forecast net loss of USD$11 billion in 2009 "still looks likely". It has also forecast that the sector will lose USD$4 billion on a net basis in 2010.

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