Financial Round Up
Air China siblings widen parent’s drop
September 2nd 2014
Star Alliance member Shenzhen Airlines has followed parent Air China’s lead and posted a significant profit drop of 94% in first-half 2014 to CNY14 million (USD2.3 million) on a 6.8% increase in revenue, while load factor remained constant at 82.2%. Read More »
Shenzhen Airlines said the profit drop was in line with expectations and pointed to fleet renewal/expansion and the Chinese yuan’s depreciation against the dollar for the lower result.
Macau’s flag carrier, Air Macau, is 67%-owned by Air China. It has posted a net profit of CNY21 million (US$3.4 million) in the first half of the year, down 74% from the same period a year earlier.
Revenue increased 5% to US$214.1 million while load factor improved 1.1 points to 68%.
Air Macau has a fleet of 15 aircraft comprising 7 A321s, 3 A320s and 5 A319s.
