17-Jul-2012 11:39 AM

CAAC: Chinese carriers profitable in Jun-2012

CAAC reported Chinese airlines returned to profitability in Jun-2012 with profits exceeding CNY2000 million (USD312.5 million), an increase of more than 10% year-on-year, according to a Yicai report. Chinese carriers reported a CNY1370 million (USD214.1 million) loss in May-2012 attributed to the devaluation of the Chinese yuan and weaker passenger and freighter demand. Details include:

  • Jun-2012:
    • Profit: CNY2000 million (USD312.5 million), +10% year-on-year;
    • Passenger numbers: 25.3 million, +8.8%;
    • Cargo volume: 429,0000 tonnes, -41.5%;
  • Six months ended 30-Jun-2012:
    • Profit: CNY4000 million (USD625 million), -70%;
    • Passenger numbers: 151 million, +8.7%.