News
Juneyao posts US$180 million 2016 net profit, becomes first Star CPM
April 28th 2017
Shanghai-headquartered Juneyao Airlines has posted a net profit of 1.25 billion yuan (US$180 million) for 2016, a 19% improvement on 2015, as operating revenues for the year through to March 31 grew 22% to 9.9 billion yuan, while operating expenses increased 28% to 7.7 billion yuan. Read More »
Juneyao’s 2016 capacity rose 23% to 25.8 billion ASKs against a significant 31% increase in traffic to 12.4 billion RPKs. The full-service airline carried 13 million revenue passengers in 2016, up 26%; its load factor improved by 0.5% to 85.7%.
Juneyao is a private carrier controlled by chairmen Wang Junjin and Wang Junhao.
It added six aircraft last year and now has a fleet of 56 all-Airbus jets. In 2017, it plans to add nine new aircraft.
Juneyao operates more than 80 domestic and international routes, accounting for approximately 8.5% of the Shanghai market, an improvement on last year’s 7.8% market share.
The Juneyao Group also has a low-cost carrier, 9 Air, operating mainly from Guangzhou. After taking delivery of four aircraft in 2016 and planning to add six this financial year, 9 Air expects to grow its fleet to 18 B737-800 aircraft through to March 31, 2018.
Juneyao will officially join Star Alliance as the airline grouping’s first ‘connecting partner’ in May. The model was designed to allow carriers to associate themselves with Star Alliance without full membership.
