Domestic airlines' profits fall
By Winny Wang |
March 19, 2011, Saturday
|
Print Edition
Print Edition
NET profits at domestic airlines dropped 56.1 percent last month to 1.21 billion yuan (US$184 million) due to dramatically moderated trade volume that dampened cargo transport.
The civil aviation industry reaped a profit of 1.74 billion yuan in the period, slumping 53 percent on a yearly basis, according to the Civil Aviation Administration of China.
In February, domestic carriers delivered 300,700 tons of cargo, down 11.8 percent, the first fall since June 2009.
February was the first time since March last year when import growth outpaced exports. Exports edged up 2.4 percent from a year earlier to US$96.7 billion in February, the slowest pace since November 2009, while imports rose 19.4 percent to US$104 billion, the General Administration of Customs said.
The civil aviation industry reaped a profit of 1.74 billion yuan in the period, slumping 53 percent on a yearly basis, according to the Civil Aviation Administration of China.
In February, domestic carriers delivered 300,700 tons of cargo, down 11.8 percent, the first fall since June 2009.
February was the first time since March last year when import growth outpaced exports. Exports edged up 2.4 percent from a year earlier to US$96.7 billion in February, the slowest pace since November 2009, while imports rose 19.4 percent to US$104 billion, the General Administration of Customs said.
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