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Airlines experience mixed fortunes
http://www.ecns.cn/business/2013/05-01/61482.shtml
May 1st 2013, 12:51
2013-05-01 21:51 chinadaily.com.cn Web Editor: Mo Hong'e
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The four major domestic airlines experienced mixed fortunes in the first quarter.
Air China, the nation's biggest carrier by market value, saw its revenue fall 0.7 percent to 22.7billion yuan ($3.68 billion) in the first quarter but net profits increased 4 percent to 249 millionyuan.
China Southern Airlines experienced a profit tumble of 82.1 percent to 57 million yuan in thefirst quarter, and revenue also went down 0.4 percent to 23.6 billion yuan.
China Eastern Airlines reported a loss of 132 million yuan, in stark contrast with the 266 millionyuan net profit it made during the same period last year.
Hainan Airlines, the fourth-largest airline in China, reported a 184 million yuan profit in the firstthree months of 2013, a year-on-year increase of 4.69 percent.
The aggregated profit of the four airlines tumbled 64 percent to 358 million yuan, and their totalrevenue edged up less than 2 percent to 74.26 billion yuan.
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