17-Oct-2012 12:21 PM

CAAC: Chinese carriers Sep-2012 profit down 29%

CAAC reported Chinese airlines profitability fell 29% year-on-year to CNY2300 million (USD359.4 million) in Sep-2012, which is also a significant decline from the CNY5830 million (USD910.9 million) profit reported by Chinese carriers in Aug-2012. As reported by Yicai, Sep-2012 revenue rose 8% to CNY34,900 million (USD5453 million). Chinese carriers also reported a CNY550 million (USD85.9 million) reduction in foreign exchange gains in Sep-2012. According to CAAC, passenger numbers increased 9.5% to 27.4 million while cargo volume increased 4.2% to 528,000 tonnes.