News
Juneyao Airlines reports 500% plus interim increase in profit
August 22nd 2024
Shanghai’s Juneyao Airlines recorded a net profit of 489 million yuan (US$68.3 million) in the six months to June 30 compared with first half 2023. Read More » Revenue increased 17%, to 11 billion yuan (US$1.5 billion) year-on-year, the privately controlled airline said. Domestic revenue rose 6.5%, to 8.7 billion yuan (US$1.2 billion), and international revenue near doubled to 2.2 billion yuan (US$300 million). The Star Alliance Connecting Partner airline credited the six-fold leap in net profit to overall travel demand and a recovery on its international network. Passengers carried increased by 18.5%, to 13.7 million air travellers. For the six months, Juneyao flew 10.4% more domestic passengers and international customers carried more than doubled. Overall, passenger load factor climbed 3.8 percentage points, to 84.5%, with international passenger load factor higher by 10.7 percentage points at 77.1%. Juneyao operated to 19 international destinations in first half 2024, up 20% from the same months in pre-pandemic 2019. It added flights from Shanghai to Bali, Penang and Athens and increased frequencies to Tokyo, Osaka, Jeju, Bangkok and Singapore in the six months, Juneyao said.
