airline financial performance in October-November

Unpublished
GENEVA - Worldwide airline share prices fell 6% in November, partly owing to concerns that the Paris attacks will impact demand for air travel, according to IATA.
Financial performance of the airline industry has remained solid, but mostly driven by the US and Europe. Airlines in other regions are showing declines in the third quarter compared to a year ago.
Crude oil prices fell to $40/bbl in November, reflecting intensified concerns over excess supply as well as a softer demand outlook.
Passenger yields in the US continue to fall and although the US$ appreciation has exaggerated declines in global fares, currency-adjusted levels are also down by 5% year-to-date. Weakness in the currency-adjusted yields and fares reflects downward pressure from factors including the decline in fuel costs and stronger growth in capacity relative to demand in some regions.
RPK volumes expanded further in October while FTKs volumes fell back after signs of modest gain in the third quarter. Growth in the number of seats plunged in October, well below expansion in demand, which should help support aircraft utilization rates.
Passenger loads reached a new record high (80.8%, seasonally adjusted) in October. By contrast, freight load factors remain at low levels not seen since mid-2009

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