Chinese carriers earned a collective net profit of CNY26 billion ($4.12 billion) in 2011, down 26% compared to CNY35.1 billion from 2010, according to an industry insider.
Industry experts cited a “slowdown of domestic market growth” as the reason for the decline. Based on statistics released by the CAAC, passenger boardings climbed 8.2% to 290 million while cargo traffic volume dipped 2% to 5.52 million tonnes.
Passenger and cargo traffic grew faster in economically underdeveloped West China than in the more prosperous East China last year. According to the regulator, West China passenger boardings and cargo traffic for 2011 increased by 14.9% and 9.5%, respectively, higher than the average industry level.
Chinese carriers have tightened capacity, reducing aircraft deliveries by 60 in 2011, because of the “overall slowdown of domestic market growth.”
Looking forward, CAAC said domestic airlines are expected to introduce up to 150 aircraft. The regulator plans to encourage Chinese carriers to bring in more widebody aircraft to alleviate airspace shortage.
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