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IATA: Airlines Financial Monitor – May 2015

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Worldwide airline share prices were up 12% in April on a year ago, despite some recent weakness owing to the strength of the US dollar and small increases in crude oil prices
•Crude oil prices rose slightly in May, buoyed by slowing inventory growth in the US, but are still low (-40%) compared with highs in 2014;
•Initial Q1 financial results show strong gains in the US and a positive turn-around in Asia Pacific;
•Passenger yields in the US are down 3% year-on-year and fares in other regions fell further, reflecting downward pressure from earlier declines in fuel related costs as well as exchange rate distortions;
•Air transport volumes continue to expand robustly, while trend in FTKs flattens on weakening trade activity;
•Growth in seats accelerated in March due to fall in storage activity, but remains below expansion in volumes;
•Air freight load factors dipped sharply in April but passenger loads continue upward trend;
•Despite lower oil prices, airlines have been increasing capacity at a slower rate than growth in demand

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