Shandong Airlines operating profit down 54% in 1Q2013

Shandong Airlines revenue up 16% - financial highlights for three months ended 31-Mar-2013:

• Total operating revenue: CNY2780 million (USD442.9 million), +16.4% year-on-year;
• Total operating costs: CNY2744 million (USD441.9 million), +18.8%;
• Operating profit: CNY36.7 million (USD5.8 million), -53.7%;
• Net profit: CNY62.0 million (USD9.9 million), -1.4%;
• Total assets: CNY1852 million;
• Total liabilities: CNY1447 million.

*Based on the average conversion rate at USD1 = CNY6.2769