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ACW - Air Cargo Week

12/19/2011

Tough year ahead for European airlines

The Association of European Airlines (AEA) has said that it expects 2012 to be a very difficult year for the Continent's numerous carriers.

AEA secretary general Ulrich Schulte-Strathaus observes: "Most of our members have posted good results for the first nine months of 2011. However, freight figures have been faltering since mid-year and third quarter yields are beginning to weaken. "The fourth quarter will mark the start of a tough ride ahead," he warned.

Schulte-Strathaus noted: "There is one certainty for 2012: it will not be an easy ride for European airlines. The prospect of high external costs and depressed demand is not a good combination."

Reflecting the currently uncertain political climate, the AEA membership is expected to post a 1-2 billion euro (US$1.3-2.6 billion) loss for 2012, he said, adding: "This forecast is heavily dependent on a swift and effective political solution to the sovereign debt crisis."

AEA is currently made up of 35 European scheduled network carriers that carry approximately 6.2 million tonnes of cargo a year.

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