CAAC: Aviation industry profit to fall 19% in 2012, pax up 9%

CAAC estimates China's aviation industry profit will decline by 18.5% year-on-year to CNY29.5 billion (USD4.6 billion) in 2012 including a 24.8% decline in airline profit to CNY20.9 billion (USD3.3 billion), as reported by Beijing Business Today and Carnoc.com. CAAC estimates China's aviation profit will account for roughly 60% of the world's civil aviation profit. CAAC also forecasts Chinese carrier will transport 320 million passengers, up 9.2% year-on-year, in 2012. China currently has 46 airline companies, including 10 cargo airlines, operating a fleet of 3238 aircraft as of 30-Nov-2012 including 1922 civil aviation aircraft. In 2013, CAAC forecasts the sector will transport 350 million passengers, an increase of 9.4%, and 5.7 million tons of cargo, up 4.3%.