Chinese carriers report nearly $184 million February profit
Published: March 16, 2011
Chinese airlines’ aircraft operating at Beijing. Photo: By Rob Finlayson.
Chinese carriers earned net income of CNY1.21 billion ($ 183.8 million) in February, down 56.1% from CNY2.76 billion in the year-ago month. The decline was attributed to slowing economic growth in the country. Total operating revenue climbed 11.8% to CNY24.25 billion while operating expenses jumped 15.5% to CNY22.83 billion. Chinese carriers transported 21.6 million passengers in February, up 6.8% year-over-year. Average load factor was 81.1%, up 1.8 points from the year-ago period. Passenger boardings on domestic routes increased 6.6% to 19.9 million and international boardings rose 10.2% to 1.64 million. Cargo traffic volume plunged 11.8% to 300,700 tonnes, the first decrease since June 2009, owing, in part, to a sharp drop in demand for exports. As of Feb. 28, Chinese carriers operated a total of 1,615 aircraft. They introduced 13 aircraft into the fleet during the month, comprising one Airbus A330-300, one A330-200, six A320s, one Boeing 757 freighter and four 737-800s. They phased out one 757-200, one MD-90 and two MD-11Fs.
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