Civil aviation profit soars on demand boom
By Winny Wang |
August 17, 2010, Tuesday
|
Print Edition
Print Edition
PROFITS in China's civil aviation industry, which includes airlines and airports, soared 363.5 percent from a year earlier to 6.48 billion yuan (US$952 million) last month, bolstered by booming air demand, according to the regulator.
Airlines contributed 5.52 billion yuan to the industry profit in July and airports earned 520 million yuan, with other related companies earning 440 million yuan, according to the Civil Aviation Administration of China.
In July, domestic carriers flew a record 25.47 million passengers, a jump of 21 percent from a year earlier. The average load factor was 83.6 percent, up 6.8 percentage points from that of a year earlier. The airlines also carried 445,400 tons of cargo, a climb of 23.6 percent. .
"The third quarter is generally a peak season for the aviation industry and we expect airlines will make more money in the period on booming demand and higher ticket prices," said Yao Jun, an analyst at China Merchants Securities Co.
Yao estimated Air China will make a profit of 4 billion yuan in the third quarter, China Southern Airlines 2 billion yuan and China Eastern Airlines 2.8 billion yuan.
Airlines contributed 5.52 billion yuan to the industry profit in July and airports earned 520 million yuan, with other related companies earning 440 million yuan, according to the Civil Aviation Administration of China.
In July, domestic carriers flew a record 25.47 million passengers, a jump of 21 percent from a year earlier. The average load factor was 83.6 percent, up 6.8 percentage points from that of a year earlier. The airlines also carried 445,400 tons of cargo, a climb of 23.6 percent. .
"The third quarter is generally a peak season for the aviation industry and we expect airlines will make more money in the period on booming demand and higher ticket prices," said Yao Jun, an analyst at China Merchants Securities Co.
Yao estimated Air China will make a profit of 4 billion yuan in the third quarter, China Southern Airlines 2 billion yuan and China Eastern Airlines 2.8 billion yuan.
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