Chinese carriers reported a collective net loss of CNY540 million ($85.3 million) in February, reversed from a net income of CNY1.34 billion in the year-ago period.
Industry analysts cited rising fuel expenses and the slowdown of domestic market demand for the results. Operating revenue rose 9.2% to CNY26.67 billion in February against an 18.7% increase in operating expenses to CNY27.15 billion.
Passenger boardings climbed 8.6% to 23.49 million. Load factor was 79.9%, down 1.2 points compared to the year-ago period. Passenger boardings increased 9.2% on domestic routes but decreased 1.7% on Hong Kong and Macau regional routes. International boardings rose 1.4%.
Cargo transport volume jumped 25.6% to 377.717 tonnes, which was the first increase in the past seven months. Cargo load factor was 69.2%, up 1.3 points over the year-ago period. Cargo traffic increased 38.3% and 10.3% on regional and international routes, respectively.
Analysts predict Chinese carriers may face a “tougher time” with high fuel prices and slower growth of market demand due to the slowdown of China’s economic growth and the European debt crisis.
Article Source : ATW Daily News
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