Chinese carriers report 78% profit increase in May
Published: June 13, 2011
Chinese aircraft at Beijing. Photo: By Rob Finlayson.
Chinese airlines reported an aggregate net profit of CNY1.88 billion ($ 290 million) in May, up 78.1% over net income of CNY1.05 billion in the year-ago month. The industry attributes the increase to robust domestic market growth stimulated by China’s fast-growing economy.
Total operating revenue climbed 22.4% year-over-year to CNY28.1 billion while operating expenses heightened 19.5% to CNY26.27 billion.
May passenger boardings on domestic routes climbed 12.6% to 22.5 million and international boardings inched up 1.3% to 1.6 million. Average load factor was 81.3%, up 4.3 points. Cargo traffic volume dropped 4.2% to 447,400 tonnes.
As of May 31, Chinese carriers operated a collective fleet of 1,643 aircraft. They introduced 15 aircraft—comprising five Airbus A320s, one Boeing 757 freighter, one A321, seven 737-800s and one Embraer 190—and phased out one MD-90, one A319, one 737-300, one CRJ200 and one Tupolev Tu – 204 .