IATA: EBIT margin for European carriers down to -15% of revenue in 1Q2020

IATA, in its May-2020 Europe regional briefing, reported (04-Jun-2020) the EBIT margin for European carriers decreased to -14.7% of revenue in 1Q2020, compared to -1.8% in 1Q2019. Base passenger yields denominated in USD declined across all key regional markets amid collapsing air travel demand and falling load factors. Yields contracted most significantly on Russia domestic routes, with a 15.7% year-on-year decrease, Within Europe (-13.1%) and Europe-North America markets (-13.3%). [more - original PR]