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Juneyao Airlines announces 22% profit jump
November 25th 2016
Privately owned Juneyao Airlines has reported a third-quarter net profit of 554 million yuan ($83 million), up 22% year-on-year. Read More » Operating revenue grew 24%, to 3 billion yuan but operating expenses increased by 27%, to 2.4 billion yuan.
For the first nine months combined, Juneyao earned 1.3 billion yuan, up 30% over the same months a year ago. Earlier this month the airline signed an agreement with Singapore’s BOC Aviation for five new A321s for delivery in 2017.
“Juneyao has been growing steadily in the past decade and now has a fleet of 56 Airbus aircraft. We are excited to add the A321 to the fleet,” said Juneyao chairman, Wang Junjin.
The Shanghai carrier also is understood to have 10 B787-9 Dreamliners on order with Boeing to fuel its long-haul ambitions from 2020.
