16-Apr-2012 10:33 AM

Shandong Airlines forecasts up to 67% decline in 1Q2012 net profit

Shandong Airlines forecasts (14-Apr-2012) a 55% to 67% year-on-year decline in net profit to between CNY56 million (USD8.8 million) and CNY76 million (USD11.9 million) in 1Q2012 citing the following factors:

  • Economic slowdown: Domestic demand has seen declines from Feb-2012, putting pressure on revenue. The decline is also seen in load factors and yield;
  • Fuel price: 1Q2012 saw the average ex-factory price of domestic jet fuel increase 22%, resulting in a sharp increase in the carrier’s fuel cost. [more – original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More