Business Round-Up
Mixed results for China's 'Big Three' carriers
May 1st 2013
China Eastern Airlines reported losses of 132 million yuan (US$21.2 million) for the three months to March 31, compared with a 266 million yuan profit for the same months last year. Read More »
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In Guangdong, the growing popularity of China’s new high speed rail services were largely blamed for China Southern Airlines’ (CSA) 82% fall in profit, to 87 million yuan, for the March quarter.
Air China turned in better results, with a 4.2% rise in profit, to 249 million yuan for the first three months of the 2013 year.
The Civil Aviation Administration of China said the Mainland’s airlines collectively made 400 million yuan in currency gains for the quarter and more than one billion yuan in investment gains. Passengers increased 15% year-on-year for March, to 28.78 million.
