European flights increased by 3.3% in April and were towards the high forecast updated in February. Preliminary data for May show an increase of 4.6% in flights compared to May 2016.
Four out of nine European airlines listed in this bulletin recorded worse operating losses during the first quarter of 2017 than the first quarter of 2016. This is mainly due to increasing fuel prices, adverse currency effect and the Easter shift.
IATA anticipates that European airlines will post profits of up to €6.6 billion for 2017. This is an upward revision compared to the €5 billion in its previous forecast but still down from €7.7 billion profits in 2016.
Oil prices were down to €47 per barrel in May from €51 per barrel in April. For 2017 IATA forecasts an average oil price of €48 per barrel (compared to €40 per barrel in 2016).