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MONTREAL, CANADA - IATA, via its Airlines Financial Monitor for Jul/Aug-2020, reported (18-Sep-2020) a sample of airline financial results for 2Q2020, representing 71% of global RPKs, showed an industry net loss of USD31.6 billion, with an EBIT margin of -97%. 

IATA noted this quarterly net post-tax loss surpassed the annual industry-wide loss in the 2008 financial crisis. IATA reported North American carriers suffered the largest losses, although some Asia Pacific airlines turned to profitability after posting large losses in 1Q2020, by reorganizing their cargo business and benefiting from high cargo yields.

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