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Record earnings in 2010 for Chinese airlines. Strong 1Q2011, but challenges ahead

26-Apr-2011

In 2010, China’s aviation industry reported record high profitability as the nation’s airlines recovered strongly from heavy losses incurred during 2008/09 amid a plunge in air travel and wrong-way bets on fuel prices. Industry operating revenues (including airports and airlines) increased 37.2% to CNY411.5 billion in 2010, driven by a 39.8% increase in airline revenue to CNY299.9 billion. Industry profits soared to CNY43.7 billion, which was three times greater than the previous corresponding period, driven by airline profits, which at CNY35.1 billion were 5.2 times greater than in the previous corresponding period. [2778 words]

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Subheadings:

  • Big Three all profitable in 1Q2011. Combined net profit of USD3.5 billion for 9.9% profit margin
  • Profits will likely decline in 2011 from 2010 levels
  • Air China's 2010 profit more than doubles
  • China Eastern’s pax, revenues and profits soar in 2010
  • China Southern Airlines reports massive jump in profits in 2010

Graphs and data:

  • China ‘Big Three’ carrier financial results for 12 months ended 31-Dec-2010
  • Air China revenue and operating cost growth: 2006 to 2010
  • Air China operating profit margin vs net profit margin: 2006 to 2010
  • Revenue by geographical segment: 2009 vs 2010
  • China Eastern operating profit margin vs net profit margin: 2006 to 2010
  • China Eastern revenue growth vs operating cost growth: 2006 to 2010
  • Air China, China Eastern and China Southern RASK and CASK: 2010
  • China Southern operating profit margin vs net profit margin: 2006 to 2010
  • China Southern revenue growth vs operating cost growth: 2006 to 2010
  • China Southern Airlines traffic revenue composition: 2010
  • China Southern Airlines operating expenses: 2010
  • Air China profits more than double in 2010
  • China Southern profits surge 40% in 2010
  • China Eastern reports soaring profits in 2010
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