Aviation News
- Aviation industry reports profit in first 11 months
Date: 27-Dec-2006 Sources: (Xinhua Online)
China's civil aviation industry saw profits jump to more than nine billion yuan (1.15 billion U.S. dollars) in the first 11 months this year, a rise of 50 percent over the same period last year, despite huge losses in the first half, said a senior official on Tuesday.
High jet fuel prices led to losses of 640 million yuan (82 million dollars) in the aviation industry in the first six months, but the industry recovered to post profits from the third quarter as the government allowed a fuel surcharge on customers by airline companies.
Chinese airline companies earned profits of 4.73 billion yuan (600 million dollars) from January to November, up 2.14 billion yuan (274 million dollars) from a year ago, said Yang Yuanyuan, director of the General Administration of Civil Aviation of China (CAAC) on Tuesday.
Air China recorded the highest profit of all airline companies, with 3.97 billion yuan (509 million dollars) in the first 11 months, said Yang at the year-end work meeting of the industry.
Yang said Chinese airlines would carry 160 million passengers in 2006, up 15.9 percent over last year.
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