Juneyao Airlines outperforms counterparts in China with record profit and pax

Juneyao Group reports the following financial/traffic highlights for the 12 months ended 31-Dec-2009 (China-CBN.com, 03-Mar-2010):

• Revenue: USD1,406 million, n/a year-on-year;
  • Juneyao Airlines: USD244.5 million, n/a;
• Net profit: USD43.9 million, n/a;
  • Juneyao Airlines: USD15.8 million, +839%;
• Passenger numbers: 2.4 million, +72.4%.

*Based on the conversion rate at USD1 = CNY6.83

Juneyao Group Chairman, Wang Junjin, stated the carrier is currently operating at a load factor of 83%, with business passengers accounting for 30% to 40% of total passengers. Mr Wang stated he has not ruled out the possibility of adding a strategic investor.

Juneyao Group: "I hope Juneyao can become a unique carrier, providing differentiated services in order to attract more premium traffic this year…several companies at home and abroad have expressed an interest in purchasing a stake. We may sell a stake, but it won't be more than 25%," Wang Junjin, Chairman. Source: China-CBN.com, 03-Mar-2010.