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China Aviation Oil reports 21% rise in net profit in 2010

1-Mar-2011 11:00 AM

China Aviation Oil (Singapore) Corp reported a 21% jump in net profit to USD54.7 million on the back of a 50% surge in revenue to USD5450 million in 2010 (China Knowledge, 28-Feb-2010). China Aviation Oil CEO Meng Fanqiu stated the company’s results came on the back of a 16% increase in total air passenger traffic in China while Chairman Sun Li stated the company is likely to continue to benefit from the expected double-digit growth in China’s aviation industry.