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October 20, 2009

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Aviation industry takes off to a profit

A RECOVERY in demand and a fall in jet fuel prices helped China's aviation industry to a profit of 9.21 billion yuan (US$1.35 billion) in the first three quarters of this year.

Domestic carriers flew 170 million passengers from January to September, an annualized rise of 20 percent, according to the Civil Aviation Administration of China. For the same period of last year, the airlines carried 1.7 percent more passengers.

The industry, including airlines and airports, generated 9.21 billion yuan in profit in the nine-month period, a rise of 9.68 billion yuan from a year earlier, thanks to the economic recovery and lower fuel prices. Airlines earned 6.13 billion yuan in profit, a surge of 11.68 billion yuan, during the period.

Last month, revenue for the industry totaled 27.2 billion yuan while profit stood at 870 million yuan, with the airlines contributing 18.7 billion yuan in revenue and 160 million yuan in profit.

In the same month, domestic carriers flew 19.3 million passengers, a rise of 17.3 percent from a year ago, and 456,548 tons of cargo, a jump of 24.7 percent, according to the CAAC.


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