Airlines show signs of turnaround worldwide: IATA Airline share prices have risen 15% this year as markets continue to anticipate better financial performance from restructuring efforts as well as an easing in cost pressures from recent decline in jet fuel prices. "Airlines from the Asia Pacific region were the only ones which did not see growth in share prices over the month, hampered by concerns over bird flu and continued cargo weakness," IATA ( International Air Transport Association) said. The first quarter financial results indicate solid performance at the operating level, compared to a year ago. "All regions except Latin America were up at the EBIT ( earnings before interest and taxes) level compared to the year ago period. Net losses for North American and European airlines include the impacts of restructuring costs-in the US major carriers are reporting net profit improvements excluding reorganization items," IATA said. Also, jet fuel prices were stable in May after a significant drop in April. Air freight markets also stabilised in April after two consecutive months of contraction. "Although business confidence remains fragile, current levels continue to support economic growth and export orders signal modest expansion in world trade, both of which should provide air freight demand in the months ahead," IATA said. timesofindia.indiatimes/business/international-business/Airlines-show-signs-of-turnaround-worldwide-IATA/articleshow/20495141.cms
Posted on: Sun, 09 Jun 2013 09:13:38 +0000