China’s airlines profitable in 2Q2010 and Jul-2010; more black ink in third quarter
Chinese airline profits are flowing again in 2010 after a recovery in earnings in 2H2009, despite aggressive capacity and network expansion. The CAAC reported that the nation’s carriers achieved combined profits of USD808.2 million in Jul-2010, with overall profits for the aviation industry (including airports) soaring 363.5% to USD948.8 million. Profits for airports totalled USD76.1 million, while ‘other’ profits added USD64.4 million to the overall figure. For airlines, the appreciation of the yuan was once again at the heart of the gains.
