15-Aug-2012 11:41 AM

CAAC: Chinese carriers report second consecutive month of profits in Jul-2012

CAAC reported China’s domestic carriers reported a more than 10% year-on-year increase in profits to more than CNY6000 million (USD937.5 million) in Jul-2012, the second consecutive month of profitability after reporting a profit of CNY2150 million (USD335.9 million) in Jun-2012. According to a Yicai report, China’s domestic carrier reported a combined loss of CNY1370 million (USD214.1 million) in May-2012 due to the devaluation of the Chinese yuan as well as weaker passenger and cargo demand. Passenger numbers increased 9.6% to 29.9 million while cargo volume fell 3.4% to 437,500 tonnes in Jul-2012.