Chinese airlines report bigger profits in third quarter

Despite soaring oil prices, Chinese airlines reported a 15 per cent growth in the third quarter of the year.

Beijing, Oct 28: Despite soaring oil prices, Chinese
airlines reported a 15 per cent growth in the third quarter of
the year.

The Chinese civil aviation sector reported a profit of
538 million US dollars during July-September period, up 15 per
cent year-on-year, the general administration of Civil
Aviation of China (CAAC) said.

The airlines posted revenues of 46.58 billion yuan (local
currency) from their main business between July and September,
up 20.6 per cent over the same period of 2005.

Their costs surged 21.7 per cent in the same period to
42.1 billion yuan, mainly due to high oil prices.

Total revenue for the civil aviation industry in the
third quarter stood at 65.4 billion yuan, up 22.2 per cent
year on year.

The civil aviation industry handled 44.93 million
passengers and 916,000 tonnes of goods in the third quarter,
up 14.7 per cent and 12.2 per cent respectively.

The Chinese civil aviation industry reported no accidents
in the period.

Bureau Report

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