24-Dec-2010 11:04 AM

CAAC expects to report industry profit above USD4.5bn in 2010

CAAC is reportedly expected to report a full-year profit of more than CNY30 billion (USD4.5 billion) for the nation’s aviation industry in 2010, 2.5 times more than the profit of CNY12.2 billion (USD1.8 billion) in 2009 (Chengdu Business Times, 23-Dec-2010). CAAC reported a profit of CNY13.3 billion (USD2.0 billion) in 1H2010, CNY4920 million (USD740.8 million) in Oct-2010 and CNY1550 million (USD233.4 million) in Nov-2010. China’s "big three" airlines, Air China, China Eastern Airlines and China Southern Airlines reported a combined profit of more than CNY11.0 billion (USD1.7 billion) in 3Q2010.