China's civil aviation industry made profits of 10.34 billion yuan (1.24
billion US dollars) in first three quarters this year, the Beijing News quoted
the General Administration of Civil Aviation of China (GACAC) as saying here
Tuesday.
China's airline companies, except airlines for post service, earned profits
of 7.35 billion yuan together, a sharp contrast to the loss of 5 billion yuan in
the same period of time.
Expert attributed the profits to relatively stable freight fares. During the
first three quarters, the freight volume of passengers has reached 90.641
million.
Despite the price increase in many other sectors, the relatively stable
freight fares still attracted many passengers inthe face of various
transportation methods, expert said.
The GACAC official predicted that total profits made by whole civil aviation
industry in 2004 will exceed the goal set early this year.
However, expert said China Aviation Oil Holding Company's starting to raise
the oil price in July has reduced the profits made by some airline companies.
The yearly net profits of China Eastern, China Southern and Shanghai Airlines
will reduce 110 million yuan, 150 million yuan and 37.08 million yuan
respectively in 2004, GACAC statistics show.
