Airlines gain from falling fuel prices | Shanghai Daily

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Airlines gain from falling fuel prices

RECOVERING demand and declining jet fuel prices generated 9.21 billion yuan (US$1.34 million) in profit for China's aviation industry in the first three quarters of this year.

Domestic carriers flew 170 million passengers in the year through September, rising 20 percent on a yearly basis, compared with a 1.7 percent increase in the same period of 2008, according to the Civil Aviation Administration of China.

The industry, including airlines and airports, made 9.21 billion yuan in profit in the period, a gain of 9.68 billion yuan from a year earlier thanks to the economic recovery and falling fuel prices. Airlines made a total of 6.13 billion yuan, a rise of 11.68 billion yuan.

In September, the industry made 27.2 billion yuan in sales revenue and 870 million yuan in profit, among which airlines made 18.7 billion yuan in revenue and 160 million yuan in profit.

During the month, domestic airlines flew 19.3 million passengers, rising 17.3 percent from a year earlier, and 456,548 tons of cargo, a gain of 24.7 percent, the administration said.



 

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