News
Juneyao reports US$200 million net profit for 2017
April 20th 2018
China’s Juneyao Airlines has posted a 2017 net profit of CNY1.3 billion (US$200 million), up 6.1% year-on-year. Read More » The full-service carrier said the improved earnings were the result of robust passenger demand and the appreciation of the Chinese yuan against the greenback.
Juneyao’s revenues grew 25% in 2017, to CNY12.4 billion, but the airline’s costs increased 27.4%, to CNY9.9 billion, largely due to 49.4% higher fuel costs compared to the previous year.
The Shanghai-based airline carried 16.7 million passengers in 2017, a staggering 25.2% more than in 2016. Capacity for the year increased 22.3%, to 31.5 billion ASKs, against 24.1% revenue growth, to 27.4 billion RPKs. The airline’s average load factor in 2017 was 87%, up 1.3% year-on-year.
Juneyao became the first Star Alliance ‘Connecting Partner’ in 2017. The airline has a low-cost subsidiary, 9 Air, based in Guangzhou.
Juneyao’s current fleet comprises 41 A320ceo and 27 A321ceo. The Wang Junjin-led carrier took delivery of 11 Airbus aircraft in 2017. 9 Air received five B737-800s.
This year, Juneyao is scheduled to take delivery of three A320 Family jets and three B787-9s. In 2019, four more A320 Family aircraft and three additional B787s will join its fleet, followed by twelve A320 Family aircraft and four more B787s in 2020.
The B787-9 will be Juneyao’s maiden wide body. The Dreamliner will be used to build a hub and spoke network, connecting Shanghai with Europe, the U.S. and Australia.
9 Air will induct four B737s in 2018, five in 2019 and six in 2020.
