17-Feb-2011 11:42 AM

Chinese airports report 12% decline in Jan-2011 profit

CAAC reported the following additional financial highlights for the nation’s aviation industry in Jan-2011 (Yicai, 16-Feb-2011):

  • Revenue: CNY37,060 million (USD5624 million), +34.5% year-on-year;
  • Costs: CNY33,340 million (USD5060 million), +24.2%;
  • Profit: CNY3400 million (USD516 million), compared with a profit of CNY480 million (USD72.8 million) in p-c-p;
    • Airlines: CNY2820 million (USD428 million), compared with a loss of CNY50 million (USD7.6 million) in p-c-p;
    • Airports: CNY270 million (USD41.0 million), -12.2%.

* Based on the conversion rate USD1 = CNY6.5895